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Digital Transformation
We did optical character recognition (OCR) to extract information from scanned invoices using Artificial Intelligence (AI)
Ansab Shaikh
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Multi-city two-wheeler servicing company with 100+ field staff
The client was facing a major challenge in tracking the day-to-day expenses like office supplies, employee reimbursements etc. , as all the records were maintained on paper.
The records of all expense transactions was being kept on paper. The process of maintaining bills/invoices physically and doing physical verification of each bill by the accounts team is a difficult and time-consuming task. In addition, maintaining the documents of all vendors for taxation was a complicated and tedious process. Key isssues:
Searching old and new vendors complete profile details was difficult.
Book-keeping, as well as reconciliation, were complicated due to physical bills.
Keeping records with a physical copy of expense invoice document was tedious and time consuming to manage.
Challenging to store and record the payment type for the different expenses.
Maintaining prepaid amounts to vendors, and advance amount adjustment calculation was difficult.
Verifying the “Travel Reimbursement” voucher amount was difficult
Generating expense reports to analyse amount spent under various heads took a lot of time
GST invoice expense calculation for monthly filling purposes was done manually, and was time consuming. So was TDS amount and Net amount calculation for a particular vendor.
Before starting work on the problem, we sat together with the client and brainstormed on possible solutions. The solution architect designed the product ensuring scalability and efficiency. Then we created a wireframe model to outline the solution and started development with the right approach for the automotive system. This saved time and human effort for our client. Solution module:
System shows a particular vendor’s complete profile details page.
Users can add new voucher information to upcoming new vendor’s expenses
Uploading or printing the expense invoice is easy.
Client can now digitally maintain their employee expenses like travel reimbursement of the sales team, office expenses made by the office team and other miscellaneous expenses of the company.
System allows for auto-calculation of various tax related heads like GST and TDS.
Different reporting modules give insight into all the expenses, like total vendor payment, pending payments, total travel expenses, etc.
The system maintains, updates and provides different types of voucher expense details on the unpaid voucher form page.
With the right approach and agile process, team developed and delivered the complex account payable (expense management) system to the client within the designated time frame. The solution provided is proving extremely useful for the client to scale the business by cutting down manual effort as well as increasing transparency for employees.
DigitalFlake is a digital transformation company founded by engineers to help businesses benefit from emerging technologies. The company has worked with startups and established firms across various verticals, helping them build enterprise-scale apps to drive operational efficiency and meet business objectives
We did optical character recognition (OCR) to extract information from scanned invoices using Artificial Intelligence (AI)
We did optical character recognition (OCR) to extract information from scanned invoices using Artificial Intelligence (AI)
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