In a recent survey, two-thirds of participating companies said they still process incoming invoices manually. Among other things, this means that employees type out accounting-relevant data by hand. This wastes a lot of time, and there is a high risk of number errors creeping in.
With fintract, companies can circumvent this and largely automate their accounts payable. Because fintract is an OCR solution that captures all relevant data from invoices and other documents in seconds.
The market today offers numerous OCR products. Among them, fintract stands out with its algorithm, which comprises around 100,000 different rules and is supported by artificial intelligence. This ensures a recognition rate of more than 90 percent. In this way, fintract can extract up to 50 different pieces of information from invoice documents. In addition, the API is extremely adaptive. As a rule, a few sample documents are sufficient for training.
Thus, fintract can automate processes not only in accounting, but also in other areas such as the HR department or in the context of contract management. fintract ensures that information is reliably read out and promptly available where it is needed. This in turn results in faster processes – for example, when paying invoices, which means that cash discounts can be better utilized.
Do you have other documents that you would like to capture by machine? Together with you, we develop your individual solution – a powerful artificial intelligence (AI) for your documents.
You can find more information about fintract here. We look forward to hearing from you.
