Allganize announced a new “Alli for Invoice” on February 2, 2023. A cloud service in which AI automatically extracts the necessary information from all invoices on your behalf. Here is a brief introduction to why Allganize started offering a new service while there are already multiple invoice digitization services, and what can be achieved.
Allganize Japan Inc., which provides a natural language understanding AI solution for companies based on state-of-the-art deep learning technology, announced that it will start providing 'Alli for Invoice', a cloud service that automatically extracts necessary information from hundreds or tens of millions of unstructured bills through AI.
Extracting the necessary information from various types of documents and turning it into data is emerging as one of the important tasks to increase the efficiency of billing operation.
Issues that persist in invoice processing
Processing huge numbers
Even small- and medium-sized companies receive several hundred to several thousand invoices per month, and large companies receive more than 10,000 invoices each month. There are ways to outsource the data entry work, but due to cost and time considerations, most companies handle it in-house.
Difficult to digitize a wide variety of formats
Invoice formats vary by issuer. Among the companies working on the digitization and automation of invoice operations, this variety of formats has become a bottleneck, and it has become an issue for improving operational efficiency because the conversion to data has not progressed as expected.
Work load of data entry does not decrease and human error occurs
Data entry work for a large number of diverse invoices is a simple task, but it is also burdensome and error-prone. The trouble of reconfirming when there is inconsistency and the man-hours of double checking are also burdensome, so there was a demand for efficiency and automation of work using technology.
Three approaches unique to Allganize
- Use our unique natural language understanding AI to handle all invoices
At Allganize, we have achieved efficiency in invoice processing operations with our unique approach.
The first is the use of our unique natural language understanding AI that understands context .
We have been providing solutions for companies that utilize our own AI for a long time. For example, AI chatbot Alli provides a mechanism to answer free questions with high accuracy and a function to present answers from document files that are not registered in FAQs.
Alli for Invoice similarly extracts the information you need from invoices, regardless of format, thanks to our unique Natural Language Understanding AI that understands the context and extracts information.
2. Easy for anyone to use without complicated pre-settings
Unlike conventional digitization services such as AI-OCR, Alli for Invoice does not require presetting of extraction points, and can be used immediately simply by specifying the items you want to read.
In addition to general items such as amount and company name, it is also possible to extract detailed items such as product name and unit price, as well as any items specified by the customer.
3. User builds optimal AI with one click
If AI fails to extract information properly, it needs to be retrained.
Conventional services for reading atypical documents require the service provider to wait for a response, or additional development may be required.
With Alli for Invoice, you can relearn AI with the results corrected by the user with one click, and you can easily build an AI that is suitable for your company
Automatically converted to the specified format/expression and output
The output format of the extraction results can be specified by the user, and automatic text conversion is also performed.
It can be output in a format that is easy to use in subsequent work, so you can use it in combination with your current accounting software and data analysis tools.
Summary: What Alli for Invoice Can Do
Significant improvement in efficiency of invoice processing operations
Regardless of the format, AI automatically extracts the information the customer needs without complicated settings. In addition, since it is output in a format that is easy to link with accounting software, etc., it reduces the number of man-hours for data conversion in invoice processing work, reduces human error, and realizes significant improvement in work efficiency.
Build the optimal AI for your company and promote business automation
Normally, in order to create an AI model tailored to the business of an individual company, it is necessary to pay a large amount of development costs and request it from a vendor.
With Alli for Invoice, users can retrain AI with the push of a button while using it themselves. Since you can build an AI that suits your company, you can further improve the accuracy of information extraction from invoices and strongly support the promotion of business automation.
If you have any questions or inquiries regarding Alli for invoice or learn more about our complete suit solutions we offer, please contact our team of experts