Automating Invoice Processing via OCR, RPA, and Machine Learning (Use Case)

Alright it’s #transformationtuesdays so here’s another use case for you, this time regarding Automation.

Invoice processing is a fairly common task done by small, medium, and large business alike.

It is also one of the tasks that takes a lot of effort to do, despite being very repetitive and rules-based.

In this use case video, you’ll see how the following technologies have been used altogether to automate the tasks involved in invoice processing:

1. OCR (Optical Character Recognition) to convert the scanned documents or images into machine-readable format
2. A Machine Learning algorithm to learn how to recognize patterns and keep improving the automation
3. Note that exceptions that the automation cannot understand will go to humans for processing, which will then also be fed into the Machine Learning algorithm to teach it how to recognize those patterns moving forward
4. Finally, RPA (Robotic Process Automation) to complete the remainder of the rules-based process such as transfer the information into various systems

This particular use case is by a company called Work Fusion who is one of the best in what they do, and they have created an all-in-one software that already does all this.

Note that I have no affiliation with WorkFusion, and it’s also worth noting that there are other providers of these individual or combined technologies. You can use them separately depending on your needs.

Watch the video below to understand this further.

I hope you found value in this.

Now if you want to learn how to make a process ripe for automation, how to find automation opportunities, and how to segregate then from non-automatable tasks, this is something I can help you with.

Download a copy of my book for FREE (for a limited time only) – The Business Optimization Blueprint.

I touch on this on Chapter 1, and dive into detail on Automation on Chapter 7.

If you have any questions, feel free to reach out, or reply with a comment.