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Case study
|
Natwest

Evolution AI data extraction from invoices for RBS Aptimise

About the project

Client:

Natwest

Year:

2019-

Services:

Evolution Catalyze

Results

Our accuracy was 98.6% before manual review

Our system could handle up to 200,000 documents per day

Our SLA was 3 seconds per invoice., compared to 24 hours for the existing supplier

Making data extraction from invoices fast and accurate

Our client, APtimise, from RBS Ventures is a leading end-to-end accounts payable solution, offering to cut invoice processing time by up to 50% for their customers. Designed for SMEs, our client makes the accounts payable process more accurate, faster and secure.

Businesses are spending vital resources on the manual processing of invoices, and would prefer to automate this operation. Unfortunately invoices don’t have a standardised format, making it difficult to automate their processing using traditional optical character recognition (OCR) technology. OCR requires a new template to be built for each invoice format - a time-consuming and costly procedure.

Evolution AI is…breakthrough technology, I’ve tried and tested, that’s made manual data-entry obsolete.’— Kartika Tulusan, Head of Product Mangement, APtimise RBS Ventures.

Evolution AI provides a swift, accurate, template-less solution to processing invoices. Our platform ‘sees’ the structural layout and semantics the way a human does, intuitively comprehending the relationship between field names and field values (like ‘Total GBP’ and ‘96.00’).

Our client was able to move from their existing supplier, who used a combination of OCR and manual exception handling, to an almost 100% automated solution. Lead times were reduced from 24 hours to just a few seconds.

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