ad
ad

Automate Invoice Data Extraction Using Azure AI

Science & Technology

Introduction

In the modern landscape of Accounts Payable (AP) automation, leveraging advanced technologies such as Azure AI Document Intelligence can significantly streamline the invoice processing workflow. This article delves into a streamlined approach to automating the data extraction from invoices using Optical Character Recognition (OCR) as part of an AP invoice automation process flow.

Understanding AP Automation

AP automation encompasses three principal steps:

  1. Invoice Receipt: This step involves obtaining invoices from vendors utilizing various means such as email, request portals, etc. Importantly, the goal is to successfully gather the invoice from the vendor.

  2. Invoice Processing: Once received, invoices undergo thorough processing. This can involve various tasks like purchase order matching, template recognition, data extraction through OCR, and implementing workflow mechanisms for review and approval.

  3. Transaction Recording: Finally, approved invoices are processed into the accounting software or ERP systems for payment.

Today's focus narrows in on the initial step—invoice receipt through email and leveraging Azure AI to extract vital data from the invoices.

Setting Up the Process

1. Receipt of invoices in Outlook

Using Outlook, invoices are received in a shared inbox, allowing multiple types of correspondence to be handled in one centralized system. A specific email rule can be created to filter emails with a designated alias, routing invoices to a particular folder for ease of access.

2. Document Intelligence Studio in Azure

Using Azure AI's Document Intelligence Studio, you can utilize a pre-built invoice model to analyze and extract data from incoming invoices. This is achieved by uploading the invoice file, which Azure AI will analyze for various data points including headers, line items, totals, and taxes. One of the key advantages of this AI-driven template is its ability to work with diverse invoice formats, utilizing AI-driven analysis rather than a fixed zonal layout, ensuring flexibility and ease in handling varied invoice structures.

3. Storing Data in SharePoint

Next, the extracted data needs to be stored systematically. A SharePoint document library is utilized to store both the invoices and their associated metadata. This central repository allows easy access to all invoices for the accounts payable team, ensuring that nothing is lost in transit through email correspondence.

Integrating with Power Automate

The final building block is creating a Power Automate workflow to tie all the processes together. The workflow includes several key steps:

  • Trigger on New Email Arrival: The workflow begins when a new email arrives in the specified folder.
  • Get Attachment: The attached invoice file is retrieved for processing.
  • Submit to Azure AI for Analysis: The invoice is submitted to Azure AI’s OCR for data extraction.
  • Create Document in SharePoint: Upon completing the analysis, the invoice is saved to the SharePoint library, including metadata such as the vendor’s name, invoice amount, date, and other necessary fields.

This workflow ensures a seamless connection between receiving the invoice, extracting data, and storing it in a structured way.

Testing the Workflow

To illustrate the above process, an example invoice can be sent to the email address. The automated workflow will engage, extracting necessary data and saving it within the SharePoint library. Success can be confirmed through the workflow’s progression and the successful appearance of the invoice data in SharePoint.

This approach towards AP automation showcases the immense potential of leveraging Azure AI for enhancing efficiency, accuracy, and visibility in handling invoices.

Conclusion

By harnessing Azure AI Document Intelligence and integrating it with tools like Outlook, SharePoint, and Power Automate, businesses can streamline their accounts payable processes, drive efficiency, and reduce manual efforts. If you need assistance implementing similar solutions, consider reaching out to professional services.

For further queries or support, do not hesitate to contact us at info@dynamicpoint.com or visit our website.

Keywords

  • AP Automation
  • OCR
  • Azure AI
  • Data Extraction
  • Invoice Processing
  • Document Intelligence
  • SharePoint
  • Power Automate
  • Invoice Receipt

FAQ

  1. What is AP Automation?

    • AP Automation is the process of automating the accounts payable workflow, which includes receiving, processing, and paying invoices.

  2. How does Azure AI help in invoice data extraction?

    • Azure AI employs document intelligence methods to analyze invoices and extract relevant data, minimizing the need for manual entry and reducing errors.

  3. Can I use Azure AI with different invoice formats?

    • Yes, Azure AI's pre-built models are designed to work with various invoice formats, not being dependent on a specific layout or template.

  4. What is the role of Power Automate in this workflow?

    • Power Automate serves as the engine orchestrating the entire process from receiving the email to extracting data and saving it in SharePoint, automating repetitive tasks.

  5. Where do I store the processed invoices and their metadata?

    • Processed invoices and extracted metadata are stored in a SharePoint document library, ensuring easy access and visibility for the accounts payable team.