eVerbinding case study
eVerbinding case study
Processing 1.8+ million invoices per year through an Intelligent Document Recognition solution for a leading e-invoicing platform
eVerbinding (eConnect) is a Dutch FinTech company for which Vanenburg built an e-invoicing platform for enterprises to send and receive invoices to their business partners. Vanenburg further built a machine learning-enabled Intelligent Document Recognition solution allowing for the automatic processing of invoices leveraging Google Cloud. Resulting in a higher quality and cheaper solution, with an ROI in less than 1 year.
Challenges
- Over 1.8 million invoices are received from hundreds of buyers and sellers as PDFs or scanned copies on yearly basis.
- These invoices need manual action to get it into the accounting software for processing.
- Existing conversion partner is holding them back as it is costly and contains lots of errors.
Vanenburg managed to develop an AI-driven document conversion solution with a ROI of < 12 months and 4 x faster processing of invoices and are available in accounting back-end system in minutes.
