Optimize Invoice Management with OpenKM's Advanced Optical Character Recognition (OCR) and Artificial Intelligence

Optimize Invoice Management with OpenKM's Advanced Optical Character Recognition (OCR) and Artificial Intelligence

Written by Ana Canteli on 20 September 2024

Document management in companies has significantly evolved with the adoption of technologies like artificial intelligence (AI) and optical character recognition (OCR). These tools allow for optimizing processes such as document management and invoicing, improving efficiency, and reducing errors. In this article, we explore how a group of companies used OpenKM's document management software, with its advanced OCR and AI module, to automate the capture and processing of invoices, enhancing system performance.

What is Advances OCR?

Optical character recognition (OCR) is a technology that automatically identifies characters in image documents. It is widely used in digitizing physical documents, such as in invoice processing or converting scanned documents into digital formats. OCR converts scanned images of text into editable and searchable information, which is crucial for managing electronic documents.

OpenKM has developed an advanced OCR module that, combined with AI, improves the precision and efficiency of data extraction. A group of companies has integrated OpenKM’s automatic invoice management module with a zonal OCR engine, which connects to the OpenKM API through web services. This allows various companies to manage their invoices efficiently and automatically.

Success Story: Group of Companies Automating the Invoicing Process

This group of companies, with multiple branches, faced significant challenges in managing invoices. Handling large volumes of daily invoices created a substantial administrative burden and a high potential for errors in manual data entry. Moreover, the time spent on these tasks delayed cash flows and affected operational efficiency.

To solve these problems, the group adopted OpenKM’s document management software with its advanced OCR and AI module. Invoices are scanned and automatically classified by their content, eliminating manual processes and significantly reducing errors. Zonal OCR recognizes specific fields on the invoices, such as the number, date, or total amount, facilitating batch processing.

The use of artificial intelligence along with OCR allows documents to be automatically classified and tagged, improving accuracy and reducing processing time. Thanks to this technology, the group has optimized the invoice lifecycle, from receipt to final archiving, significantly enhancing document management.

Features of OpenKM's Advances OCR

OpenKM’s advanced OCR module offers several features that make it an ideal tool for automating document processes:

• Accurate OCR for high-precision data extraction.
• Batch processing, enabling the efficient handling of large document volumes.
• Image preprocessing to improve document readability before analysis.
• Direct connection to scanners for smooth workflow integration.
• Support for various image formats like PNG, JPG, GIF, BMP, and PDF.
• Multiple data export formats, including XML, PDF, and CSV.

Moreover, AI analyzes the data extracted from OCR documents to perform tasks such as report creation, automatic document classification, and detecting patterns useful for decision-making. This approach saves time and improves operational efficiency by reducing human errors.

Advantages of Integrating OCR and AI into Document Management 

The combination of OCR and AI in OpenKM’s document management system provides clear benefits for any company:

1. Automation of repetitive tasks: It eliminates the need for manual data entry, reducing the effort and time spent on document management.
2. Reduction of human errors: Automated data capture and processing lower the margin of error in critical tasks like invoicing.
3. Productivity improvement: Employees can focus on more strategic tasks while the system handles routine tasks.
4. Seamless integration with existing systems: OpenKM's OCR module integrates smoothly with other applications and systems, facilitating its implementation and use.
5. Efficient file management: The system enables the digitization of documents and cloud storage, improving access and security of digital assets.

Conclusion

The implementation of optical character recognition (OCR) and artificial intelligence in OpenKM’s document management software offers an advanced solution for companies looking to optimize the management of invoices and other key documents. A group of companies has successfully automated their invoicing process, improving efficiency, reducing human errors, and saving time on repetitive tasks.

If you are looking for a way to improve document management, increase operational efficiency, and adopt a cloud solution, OpenKM is the ideal tool to transform your document processes. Request a demo and discover how this solution can benefit your organization.