Intellect Design Arena launches Magic Invoice

Friday 22 July 2022 12:12 CET | News

Intellect Design Arena, an India-based fintech, has launched Magic Invoice, a NOMagic Invoice TOUCH invoice processing solution.

The solution is powered by artificial intelligence, natural language processing, and machine learning. Magic Invoice is contextual and continuously learns, adapts, and integrates well with existing technology ecosystems to automate end-to-end or Email2ERP invoice processing.

The NO TOUCH process starts with Invoices being ingested directly from emails and accurate data capture powers the invoice processing. The verification and approval process ensures that the invoice data matches with business data points and automatically routes to the right people at different Account Payable (AP) stages, scaling up the system with extreme accuracy and speed.

Magic Invoice’s proprietary CDR Graph Technology enables businesses to reach across the globe in different layouts and languages without delay. Design Thinking principles are used to understand the patterns of an invoice. Being Cognitive in nature, helps the solution perform tasks that humans can do. CDR Graph Technology’s five algorithms help read through these variations and complexities with utmost ease.

Magic Invoice’s UI can ingest documents from various sources, to classify, contextually capture meaningful data, and integrate the output back into the downstream system through APIs.

The solution is pre-trained with a huge number of invoice documents and can accurately extract key line-item data. This decreases the billing cycle time by decreasing your invoice processing efforts by 80% as Magic Invoice can be deployed in less implementation time.

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Keywords: product launch, e-invoicing, fintech, artificial intelligence, machine learning
Categories: Banking & Fintech
Companies: Intellect Design Arena
Countries: India
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Banking & Fintech

Intellect Design Arena

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