Automation & extraction of Invoices
Invoice Reconciliation is a revolutionary AI-based software solution that automates the entire invoice reconciliation process and removes errors due to manual reconciliations. It reduces the chances of overpayments on duplicate invoices or overcharging by validating invoices with vendor agreements that define expense limits.
Pro-forma, interim, past due and final invoices
Recurring and miscellaneous invoices
Special legend invoices, e.g., from law firms, tax invoices
Assessments of vendors regarding KYC and potential sanctions
Commercial & Retail Banking
Non Banking Financial Institution
Asset & Private wealth managers
AI-based Invoice Reconciliation Software Clears all Hurdles
Invoice Reconciliation by Scry Analytics delivers tremendous gains in productivity and cost reduction,while guaranteeing unprecedented levels of accuracy at scale. It is powered by extensive invoice automation that is implemented at each stage of process.More Detail
- Offers 85% reduction in time & cost over manual reconciliation processes
- Digitizes > 200 pages/hour & stores all input data that can be used later
- Handles all types of pro-forma, interim, past due and final invoices
- Ingests documents in diverse formats, e.g., PDF, image, Excel, CSV, etc
- Extracts key attributes from any document scanned by OCR software
- Automatically reconciles invoices and highlights any accounting errors
- Ensures tax compliance by verifying invoices for KYC, FATCA, etc.
- Proprietary domain ontology for invoices, purchase orders and others
- Machines learns on “its own” and via a “human loop”
- Provides vendor-specific dashboard with all invoices & their status
Collatio has been built using
the following technologies
Key Differentiators &
User Interface and APIs
Pre-built graphical user interface (GUI) & APIs for quick deployment & integration with clients’ existing workflow
Pre-built ontologies & business rules that are dynamically updated to improve the product accuracy over time.
30+ probabilistic spatial and temporal graph algorithms to determine links and connected entities.