How Intelligent Document Processing Helps You Automate
- Simplified data privacy and compliance
- Highly-scalable document processing
- Improved time and money savings
- Increased efficiency and satisfied employees
- A better foundation for digital transformation
Semantik Invoice
Semantik Invoice Finance and accounting departments carry the time-consuming burden of processing large amounts of both physical and electronic invoices. Semantik Invoice was designed for organizations to take advantage of the power of the cloud with modern, AI, data-driven invoice data capture technology. Semantik Invoice expedites the process of acquiring content and extracting the data, which allows for faster validation, compliance and insight into purchases. Semantik Invoice is an out-of-the-box solution that can be deployed within minutes due to no-code, multi-tenant cloud architecture so you can start taking advantage of its value and return on investment immediately.
Benefits
- Up and running in minutes
- Easy to learn, easy to use
- Pretrained AI models recognize your invoices with minimal setup
- Highly accurate data extraction that gets better the more it is used
- No code, out-of-the-box connections to over 1,000 accounting and business systems with optional Semantik Workflow connectors
Lower Your Invoice Costs
With the average cost and time to process an invoice at about $10.08 and 8.3 days, Semantik Invoice can drastically reduce invoice processing times and achieve accuracy of 97% through its semantic data-driven AI extraction model, enabling organizations to process invoices in minutes, not days. Shift your accounting team’s focus from manually keying in invoices, to early payment discounts, dynamic discounting or other vendor payment incentives.
By employing a semantic data-driven extraction approach, ensuring both data and meaning are captured, your organization will be more productive and will be able to gain valuable insight into your vendors and customers.
Technology Overview
Semantik provides real-time processing using pre-trained machine learning extraction models with automated retraining. Specifically, no templates are used and the system learns to read any type of invoice formatting. Semantik is built on AWS serverless technology, making the product extremely scalable and flexible as your company grows or experiences peaks or fluctuating processing demands. Semantik Invoice is integration-friendly with native integration to over 1,000 third-party systems via our optional Semantik Workflow module and has custom integration capabilities through webhooks.
Ephesoft Transact
Ephesoft Transact is a smart content acquisition and data classification solution that extracts meaningful data from documents from any format in the cloud or on-premises. That data feeds into your back-office applications to accelerate the pace of business transactions and processes. Our data acquisition solutions can automatically identify the information you need without manual data entry, sorting or scanning separator sheets with barcodes. Through supervised machine learning algorithms, Ephesoft enables businesses to better classify documents by content analysis, bar code or layout. The system recognizes and captures data using OCR and ICR engines, fixed formats, free form extraction and fuzzy database logic. The Ephesoft platform is ideal for organizations with a heavy document load that drives your sales orders, claims processes, mortgages, mailrooms, invoices or any other critical business process.
Ephesoft Transact Technology
- Zero footprint, browser-based application that runs on servers behind your firewall, Amazon Web Services or Microsoft Azure.
- Supervised machine learning technology that can be improved over time, increasing value.
- Java-based open architecture using industry standard tools to ensure customers are not locked into a proprietary stack.
- Web Services APIs and mobile capture tools.
- Hybrid cloud add-on solution is available for 10X accelerated performance.
Let's Talk
Let’s talk about where you are and what you want to achieve. We’ll help you find a solution that’s right for your organization.
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