Invoice Line Items

One of the primary challenges in invoice digitisation is line items processing. This can result in errors and delays. Inaccurate or incomplete line item data can result in payment errors, which can cost companies an average of £61 per invoice to correct.

Extraction

Multiple fields: item, description, unit net, vat, vat%, gross, quantity, discount, discount %.

Paperless Hub AP provides Merge & Split functionality for line items to optimize bookkeeping. The AI engine ensures active learning from validated item.

Matching

Machine learning ensures correct Ledgers, Departments, Projects, Cost Centres allocation based on validated records.

Line Items values are reconciliated and exceptions are highlighted for review.

Validation

Equipped with colour coded accuracy for ease of use.

Auto-approve on set accuracy levels, specific Suppliers, below thresholds, on certain currencies, or other custom rules.

Export

Prepare line item templates for excel export, by customising the selection, order, name or format of outputted date, in line with your accountancy software provider.

Integrate with common accountancy software providers trough our build-in connectivity.

Machine Learning

The use of machine learning algorithms significantly enhances the accuracy of invoice digitisation. Paperless Hub AP includes machine learning models trained on validated data to predict which details are likely to be applicable when dealing with line items. This feature improves the matching accuracy and reduces the need for manual intervention. The machine learning algorithms can also identify patterns in the data that may not be apparent to the human eye. For example, it can identify vendors who consistently make errors on their invoices.

Deep Learning

Another crucial aspect of line items processing is active learning. Paperless Hub AP active learning enable users to provide enhancements through validation. This feedback is used to improve the algorithms continually, ensuring the solution becomes more accurate over time and throughout changes.

To overcome this challenge, Paperless Hub AP uses AI to extract and process line item details. Paperless Hub matches these items to the client-specific configurations, cleans and enhances the data. If there are any discrepancies, the system highlights them for review.

Paperless Hub AP with line items can help businesses streamline invoice processing, reduce errors, and improve efficiency.