Non PO based invoices often fall into the category of contractual, regular spend monthly invoices. Their value may fluctuate slightly, such as with utility and phone bills, but they arrive consistently and follow a similar spend profile. As they don’t have POs or receipts, we can’t be sure the invoice was intended or the service… Read More »How do you automate non PO spend: Pattern analysis beats AI for consistency
During my recent seminars at financeSHOWCASE, I’ve been asking the audience a simple yes-or-no question: “Would you trust AI to adjust a payment run if it found better terms or early settlement discounts on an invoice?” I’ve been tracking the responses in a Google Sheet, and the results have been interesting. My aim in asking… Read More »How Much Autonomy Should AI Have in Finance: Balancing Invoice Terms, Document AI and Cashflow
With all the hype around generative AI, it can sometimes be difficult to separate genuine value from noise. On LinkedIn I often see frustration expressed in comments like “GenAI can’t do maths”, “GenAI doesn’t understand this anatomy image”, or “GenAI is just a prediction engine”. These criticisms are not without merit, but they also miss… Read More »Process AI meets Document AI : New Abbyy Marketplace Asset
I’ve recently been working to improve my understanding of how Intelligent Document Processing (IDP) leverages different types of AI to extract data from documents. We’ve been using ABBYY FlexiCapture for many years and are now transitioning our solutions to ABBYY Vantage. With all the recent discussion around AI in IDP tools, I thought it best… Read More »AI in Intelligent Document Processing: How Transformers and Deep Learning Power ABBYY’s IDP Tools
At Spectrum, we’ve carved out particular niches in delivering complex accounts payable solutions. We’ve achieved significant success in vertical markets such as distribution, including the food and clothing sectors. One of the key complexities in these industries is managing Units of Measure (UOM). Orders are often raised with quantities and prices that differ from what… Read More »Simplifying Accounts Payable: Tackling Unit of Measure Challenges in Distribution
Recently, I’ve been bench testing our IDP tool of choice, ABBYY FlexiCapture/Vantage, against other competitor products. At Spectrum, we’re developing a cloud-native Accounts Payable Automation tool, and as the Product Owner, I wanted to ensure that we are using the optimal tool for extracting data from incoming invoices. Traditionally, we’ve used FlexiCapture, but with a… Read More »Optimising Invoice Data Extraction: Benchmarking ABBYY Vantage for Enhanced Touchless Processing