Our client, APtimise, from RBS Ventures (as part of the NatWest group), is a leading end-to-end accounts payable solution. APtimise planned to cut invoice processing time by up to 50% for their customers. Designed for SMEs, our client renders 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 extraction format - a time-consuming and costly procedure.
'Evolution AI is…breakthrough technology...that’s made manual data entry obsolete.’— Kartika Tulusan, Head of Product Management, 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.