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Key Information Extraction from Scanned Invoices

Summary

Key Information like date, value, customer name etc. for invoices were manually processed by the client daily resulting in errors and delays in processing.

Approach

We provided a solution by

  • Applying different techniques to detect and extract text from the scanned documents
  • Training our AI models for information extraction activity on larger datasets
  • Transfer learning techniques applied to optimize for custom requirement.

Key Benefits

  • Overall accuracy of over 80% and around 90% for some key fields
  • Ability to quickly customize for new fields and invoice templates

Results

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~80%+ Accuracy – Client was able to semi-automate most of the manual invoice processing.

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500K Impact – Resources were redeployed for higher end work resulting in more revenues

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