Sentrio

invoice data as a service

 

Easy, 100% accurate, access for your clients

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touchless invoice digitization

Sentrio Digitizer is a key component of the Invoice Data as a Service solution which uses a highly advanced Invoice Digitization technology to provide you with a ‘black-box’ to which you can submit invoices, and in return, receive a clean, accurate, XML dataset.

You can use this dataset to deliver next-generation process automation or business intelligence solutions to your clients without having to develop technology to interpret invoices in native PDF formats or invoices scanned as PDFs.

It also means that you don’t have to provide facilities for clients to enable them to create, update and maintain client PDF ‘maps’ that are commonly used by other solutions when extracting data from PDF documents.

 
Convert invoices to data automatically with 100% accuracy

Sentrio Digitizer (Invoice Data as a Service)

  • Scales to handle any volume of invoices.

  • Automates the data extraction process so that user intervention is not required.

  • Handles complex invoice layouts where transaction lines may be spread across a variable number of lines.

  • Caters for multiple layouts from a single invoice source.

  • Processes multiple invoices in a single PDF document or multiple PDFs attached to an email.

  • Separates invoices from any backup documents that may have been included with invoices.


Eliminate backfilling

Having access to complete and accurate data eliminates backfilling, one of the most common ways in which most solutions ‘guess’ what the correct data should be. This can lead to serious errors especially if there has been product substitution by a supplier which will not be detected using this methodology.

For some clients, this may be acceptable as long as the price remains the same, but for others, it can have very serious consequences if it impacts on quality or manufacturing.

A simple example will serve to illustrate the issue.

Purchase Order Data

Sample Purchase Order

Invoice Data

Sample matching invoice

As the value of the invoice and the purchase order match and the overall quantities are correct, most systems that rely on OCR to read a picture of the invoice will backfill (‘guess’) that everything matches correctly if the overall value of the invoice matches the overall value of the purchase order.

However, Sentrio Digitizer extracts data with 100% accuracy from properly formatted PDFs which means the following:

  • Discrepancies between order and invoice can be identified - this is particularly important if a product substitution could have serious affects for manufacturing or human health.

  • Prices can be automatically compared between the invoice and purchase order at a line level.

  • If everything matches no human intervention is required to approve invoices.

  • It is possible to gain a deeper understanding of discounting and bulk purchasing possibilities.

  • Data is provided at the lowest level of granularity because in this case there are multiple invoice lines per purchase order line.

  • Verification of compliance with taxation rules is possible.

  • Freight and courier charges can be identified separately.

 

100% Accuracy

Sentrio Digitizer takes a very different approach to data extraction to other systems in the marketplace.

Instead of trying to convert an image to text, Sentrio Digitizer reads the coding that sits underneath every properly formatted PDF. This gives us direct access to the original content and not just a picture of the content.

 
 
 

Benefits of direct access

  • 100% accuracy in data extraction

  • Complex invoice layouts handled

  • No user intervention required

  • Ensures compliance with legal and corporate standards

  • Standard XML output containing all relevant data

 
Data extraction from PDF
 
 
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Submitting invoices

There are three automated options available to submit invoices for digitization. This provides a lot of flexibility when considering how to integrate it into your solution.

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API (Application Programming Interface)

Invoices can be submitted programmatically using the Sentrio Digitizer API. PDFs are submitted via the API and XML data is returned.

SFTP (Secure File Transfer Protocol)

A secure means of submitting invoices is to deposit them in a secure FTP site from where Sentrio Digitizer will process them and return an XML file to the SFTP site.

Email

It is possible to simply email invoices to Sentrio Digitizer for processing. The extracted data will be returned as an XML file by email.

 

superior data extraction

 
Accuracy
 

Accuracy

100%

Accuracy in data extraction

Automation
 

Automation

95%

Invoices can be processed automatically

Guesswork and backfilling
 

Guesswork

0%

Guesswork or taking data from other sources

 
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Typical applications

Sentrio Digitizer can be used across a variety of industries and functions, from financial services (banks, credit insurers, invoice finance firms), to software companies (ERP developers, ISVs - Independent Software Vendors, RPA - Robotic Process Automation providers), to legally required services (auditors, examiners, receivers and liquidators), and functions such as procurement teams and business intelligence analysts.

 
Banks

Banks
Monitor customer activity when funds advanced

 
Credit Insurers

Credit Insurers
Align provisions with actual exposure

 
Invoice Finance Firms

Invoice Finance Firms
Advance funds against approved invoices

 
ERP Developers

ERP Developers
Achieve access to more accurate invoice data

 
ISVs - Independent Software Vendors

ISVs
Offer new services to existing clients

 
RPA - Robotic Process Automation

RPA Providers
Access more accurate data for automation

 
Business Intelligence Analysis

BI Analysis
Business Intelligence Analysis

Procurement Teams

Procurement Teams
Access to data through a ‘procurement lens’

Auditors

Price Auditors
One-off or ‘real-time’ data access

Receivers and Liquidators

Examiners / Receivers
Access data that may be locked inside invoices

 
 

Digitization Consultancy

With an industry track record that collectively spans over 80 years, the executive consultants within Sentrio have extensive experience and can provide insights and advice on the best ways to implement Robotic Process Automation to streamline the auto-matching process of purchase orders, GRNs (Goods Received Notes - where used) and invoices to provide the maximum benefit to your clients, and enhance your service to them.

Use the enquiry form below to tell us more about your business and what you would like to achieve through invoice digitization, and one of our experienced consultants will contact you for a ‘no obligation’ discussion about the opportunities and challenges.

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 Enquiry

By submitting this form, you are consenting to be contacted by Sentrio Technologies Ltd in relation to your query.