Oil and Gas · Computer Vision · NLP

How AI Increased Invoice Processing Efficiency for an Equipment Distributor

A web service that extracts data from different types of invoices, automating data entry for a multinational equipment distributor and saving 850 man-hours per month.

25x faster invoice processing
Illustration of a purchase order with vendor, date, line items, VAT and total fields
Client
Equipment Distributor
Industry
Oil and Gas
Technology
Computer Vision, NLP
Also applicable in
Retail, Logistics and Transportation, Insurance, Finance
01

The challenge

The customer, a large multinational equipment distributor, wanted to streamline invoice processing through digitisation by extracting account information from invoices into its custom-made ERP system.

The work was done manually and took several minutes per invoice. As the number of daily invoices grew, a human-centric process was no longer feasible, and the push to process faster led to more and more human errors.

02

Our solution

We delivered a web service that lets users upload an invoice and receive the extracted information in a predefined structure.

The service runs on a pipeline that combines document image processing, optical character recognition and classification of the invoice type.

  • Processing and enhancement of document scans
  • Information extraction based on optical character recognition (OCR) with post-processing
  • Identification of information blocks
  • Invoice type classification
  • Packaging and export of the extracted information
03

The outcome

25x faster invoice processing

The service allowed the customer to process invoices without any human intervention. Invoice processing became 25 times faster and the customer saved 850 man-hours per month.

The error rate fell by half, since most errors had been human errors.

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