Our extraction system uses a unique AI software that helps bookkeepers and accountants to make their tasks easier and faster.
Before we can even leverage AI software, we must first learn about OCR (Optical Character Recognition) as well as the various PDFs and photographs. This “exposes” the text within the document. The document will then pass through a “Form recognition platform” that looks at the position of the Various fields such as Vendor Names and Addresses as well as taxes, line items and all the other fields within the document. Here are some key things to help with this process. Tips on Scanning and Scanned vs Electronic documents.
Once a match is found (or several) then there will be a further match upon specific text found in the PDF or Picture, such as Vendor Name. If there is a match, then the AI software uses that template and pulls the data out according to the template in our system. The extracted data is then stored in a database.