Suppliers will be able to email PDF invoices directly from their ERP system. Basware handles the data extraction, content validation and augmentation process automatically by utilising deterministic algorithms, machine learning and optical character recognition, according to the press release.
An analysis of the transactions flowing through the Basware system shows that 70% of PDF invoices are machine-readable, which means they can be processed automatically by extracting the invoice information directly from the PDF file without the need for optical character recognition (OCR) technology.
With machine-readable PDFs, the information from the supplier’s ERP system is transmitted directly into the buyers’ purchase-to-pay solution. In cases where the PDF is not machine-readable, the invoices are automatically routed to OCR process to guarantee 100% invoice delivery.
The first version of Smart PDF will be available in 2018, with feature upgrades to be released in 2018.
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