Evolution AI will cut the time you spend processing invoices by 85%
Accounts payable staff spend up to half of their time manually extracting data from invoices. Traditional optical character recognition (OCR) solutions can’t automate invoice extraction because invoices lack a standardised format. For example, a sample of 15,000 invoices from one of our clients had 4,300 different formats.
Major UK banks use our solution to automatically extract data with 98.6% accuracy, a figure that is always rising because our AI keeps learning — even after deployment.
Our platform can handle any invoice format because it doesn’t rely on rules or templates. Instead, the platform ‘sees’ visual structure of documents. As illustrated here, it grasps the relationship between ‘Total GBP’ and ‘96.00’.
Here is how our platform automates invoice processing:
You can access our platform anywhere: online, via your inbox or using our REST API.
No need to do anything. The fields you've chosen are extracted and returned within 3 seconds.
You can opt to have a human operator validate your results. It only takes 30 seconds (or we can do it for you).
The extracted results can be seamlessly integrated into the following accounting software packages:
We extract the following fields as standard:
If you would like to see a demonstration of the platform, click below:
For example, a shared inbox receives an email with an invoice attached. Our AI tells an RPA robot who the email should go to and extracts the invoice data. The robot forwards the email and integrates the data into accounting or ERP software.
Our platform is ready to read anything, don’t limit it to invoices. Financial statements, policy documents, credit notes, contracts, POs and bills of lading are all suitable document types.
Evolution AI gives you the ability to automatically process any document type 24 hours a day, with unwavering accuracy. It’s only a matter of time before all businesses evolve their document processing.
Book a demo to discuss how we can make this a reality for your company.
Evolution AI conducts research with the Machine Learning Department at UCL and the Computer Science Department of the University of Southampton. We are funded by the creator of Amazon Alexa and one of the largest grants for an AI project ever awarded by the UK Government.
Our key partners and clients include RBS, RELX Group, Blue Prism, The Economist, Sky, Dun & Bradstreet, UiPath, the Office for National Statistics, Accenture, Natwest, Automation Anywhere, and Hitachi Consulting.