IDP was preferred over just OCR
Vandersanden receives thousands of invoices per year (scanned and readable PDF’s) in their centralised mailbox. These invoices needed to be manually processed so that their finance application remained up to date. The manual extraction ànd validation of the correct information from these invoices was a tedious and time-consuming task. To help them get rid of this burden, Vandersanden decided to experiment with traditional template-based Optical Character Recognition (OCR) solutions. After careful consideration, Vandersanden wasn’t satisfied with this lower level of automation. Therefore Vandersanden decided to enter the world of Intelligent Document Processing with Metamaze.
Adding IDP increased STP% with 60%
In order to reach a higher level of automation, Metamaze was implemented in combination with an RPA solution by our partner Robonext. This IDP solution resulted in automated extraction of invoice data from aforementioned PDF’s for a wide variety of suppliers. This means that Vandersanden didn’t need to re-create a new template when a supplier changed their invoice structure. So Metamaze can automatically extract the necessary data from the invoices, which is then entered into the finance application by a robot. Metamaze was implemented, from start to go-live, in just four weeks.
Main benefits of IDP
Two main benefits resulted from Vandersanden’s choice to go for Intelligent Document Processing with Metamaze. First: Automatically processing invoices with Metamaze resulted in significant time savings for the Vandersanden finance team. Secondly: traditional template-based software failed to reach the desired automation results that Vandersanden set forth. The self-learning software of Metamaze on the other hand, was able to increase the STP% (straight-through processing rate) with 60% in just two weeks.
- From start to go-live in <4 weeks
- Increase in STP-rate of 60% in just 2 weeks
- Significant time saving and reduction of manual labour