Receipt Processing
Automate your receipt workflows.
Document Processing Automation
Receipt Processing Automation.
Manually processing receipts often leads to errors, inconsistencies, and misplaced documents, posing significant challenges to businesses. Whether you're a retailer, a point-of-sale system owner, or an HR manager, our cutting-edge document processing platform is designed to empower you.
With DocHorizon, you'll witness reduced errors, enhanced accuracy, and greater control over your entire operation. Ultimately, you'll efficiently handle larger receipt volumes without the need for expansion.
Features of Automated Receipt Processing.
Intuitive User Interface
Effortlessly automate your document workflows with our low-code platform. Tailor and streamline your claims processes to perfectly fit your business needs without requiring extensive coding knowledge. Our intuitive drag-and-drop functionality makes customisation a breeze.
Precision Data Extraction
Our cutting-edge intelligent document processing solution incorporates advanced optical character recognition (OCR) software, meticulously extracting structured data with over 99% precision from any section of your receipts, ensuring efficient and accurate data validation.
Integrated Fraud Detection
Our platform is equipped with advanced technologies such as duplicate detection and EXIF analysis, enabling early identification of fraudulent documents and preventing attempts to bypass the system. This helps maintain the security and integrity of your document processing workflow.
Seamless API Integration
Connect our document processing technology to your own applications via API for a streamlined workflow. We offer seamless integration features with cloud-based drives, email providers, or accounting, CRM, and ERP software for efficient and effective implementation.
Data Security & Compliance
Our solution includes robust security and compliance measures to prevent data breaches and unauthorised access. For example, our data masking feature ensures compliance with regulations like the Data Protection Act by obscuring sensitive data before transmission to databases.
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Contact usBenefits of Automated Receipt Processing.
Improved Accuracy
Automated receipt processing tools accurately extract data, streamlining expense estimation and employee spending tracking.
Better Financial Management
Receipt processing automation accurately records employee expenses, reducing errors and the risk of financial mismanagement.
Increased Productivity
Employees can scan receipts to automatically create expense reports using the captured information, saving time on filing claims.
Enhanced Security
Digitising receipts minimises the risk of losing or damaging paper receipts, while securely storing them to ensure data privacy.
Limitless Scalability
Automation streamlines processing large volumes of receipts, enabling business growth without hiring additional personnel.
Efficiency Savings
Automating receipt processing reduces the time and effort involved in tracking expenses and maintaining financial records.
How It Works.
Scanning or Uploading
You can scan paper receipts with our SDK and upload the digital images via API, or upload any number of receipts through our web application, FTP, or email.
Data Extraction
Choose from our standard financial model for out-of-the-box receipt data capture, or customise your extraction fields within the platform to create a tailored workflow.
Data Conversion
Our API can verify and extract data in JSON format, which can be converted to CSV and XLSX. You can also set up human-in-the-loop mode for additional verification.
Integration or Delivery
Choose your output destination. Our API can forward receipt data to various cloud-based drives, email providers, or accounting, CRM, and ERP software.
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Frequently Asked Questions.
What is automated receipt processing?
Dealing with unstructured data such as scanned hard copies, PDFs, and email receipts can be a tedious and time-consuming task for businesses. Manual management of these documents can lead to reduced productivity and potential loss of important information.
Leveraging receipt processing software can automate the data entry process, helping businesses extract and transform receipt data into structured datasets and documents, ultimately streamlining business processes and allowing teams to focus on mission-critical tasks.
What are the benefits of automated receipt processing?
Automation is a valuable tool that can bring numerous benefits for businesses. By streamlining receipt processing, companies can save time, improve accuracy, increase productivity, and ultimately succeed.
These systems can provide businesses with real-time data on expenses, improving financial control and cash flow management. They also improve record-keeping, ensuring businesses stay compliant with regulatory requirements. They also protect against potential data privacy and security breaches.
What processes can I enhance through receipt automation with DocHorizon?
The DocHorizon platform offers more than just data extraction. In a single workflow, you can scan, convert, classify, anonymize, verify, and forward extracted data. Here are a few examples of receipt processing automation use cases:
- Budgeting: Identify areas where there’s overspending and make necessary adjustments to the budget.
- Cash Flow Management: Ensure your business has enough cash to cover costs and avoid unnecessary late fees or interest charges.
- Expense Management: Enable automated expense booking and reimbursements for internal use or as an add-on to your software.
- Forecasting: Predict future expense volumes and identify any bottlenecks before they occur.
- Receipt Clearing: Gain customer insights or provide real-time benefits like cashback and loyalty points with ready-to-use data.
- Receipt Fraud Detection: Spot receipt fraud or detect duplicate receipts with AI algorithms to prevent unnecessary risks.
What fields from a receipt can be captured by DocHorizon?
We support 30+ receipt fields out of the box and can accommodate others on request. DocHorizon is fully customisable for any use case.
Examples of general information:
- Merchant’s name
- Contact details
- Document type
- Country
- Language
- Currency
Examples of receipt line items OCR fields:
- Description
- Product number
- Price
- Quantity
- Discount
- Subtotal amount
- Examples of numerical fields
- Receipt number
- Purchase date & time
- Amount of change
- Card number
- VAT %
- Total amount