In this demo, you’ll see how WorkFusion’s SPA (Smart Process Automation) transforms this common task using a seamless combination of RPA, machine learning, and human expertise.
Many invoices contain standard data points such as order number, product information, address and amount too, but invoice formats vary widely and many contain both essential and extraneous information. This variable and unstructured data need to be assessed on every one of these individual invoices which requires a lot of time and result in a varying accuracy rate. Plus any exceptions consume even more time as they each are handled on a case-by-case basis.
WorkFusion SPA transforms this data extraction, WF not only automates the task but continually improves the results. Let’s take a look at steps of invoice processing automation:
– First, WorkFusion’s OCR digitizes the necessary data from each invoice.
– The continuously improving algorithm of a machine learning engine looks for patterns and other ways to group invoice data together for faster and more accurate processing.
– When an exception arises WorkFusion routes a specific query to an employee for resolution, which is then sent back to the algorithm for retraining.
This collaboration between the programmed algorithm and human expertise teaches the system how to handle that same exception when it appears in the future. That’s a machine learning at work.
– Finally, WorkFusion automatically sends the correct and complete data to the invoice payment system by combining all these capabilities.
- 80% Manual work eliminated
- 95% Accuracy rate of invoices processed
- 4x more invoices