Traditional invoice processing can be a very cumbersome and time-consuming. Between all the manual data entry, approval workflows, and auditing, there are many pain points across the end-to-end process. With Power Automate prebuilt AI model in AI Builder: Invoice processing, we can do that in the easy way.
Invoice processing lets you read and save key information from invoices in English. It automatically extracts information such as customer, vendor, invoice ID, invoice due date, total, invoice amount due, tax amount, ship to, bill to, and more. With the new AI Builder invoice processing prebuilt model, you can minimize pain points usually found in traditional invoice processes and speed up your invoice processing time, delivering real value back to your business. Here are a few examples of what you can automate:
For every invoice added to a SharePoint folder, automatically extracts its data, and save it into an Excel file.
For every invoice attached to an incoming email, automatically extract its data, start an approval process if the amount it higher than $2,000 and if approved save the extracted data into SAP.
For every invoice attached to an incoming email, automatically extract its data, store the data into a legacy accounting application using RPA with Power Automate Desktop. Then, send a notification email or a Microsoft Teams message to the relevant parties.
With connectivity to 400+ applications plus the robotic processing automation (RPA) capabilities offered by Power Automate Desktop, it is now easier than ever to automate your invoice process based on to your business needs.
This prebuilt model combines powerful Optical Character Recognition (OCR) capabilities with invoice specific deep learning models to extract key information from invoices in English. No training or prior configuration is required to use this prebuilt model. But should you require customization to extract data not provided by the prebuilt model, you can build your very own custom form processing model.
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