Taulia has partnered with Google Cloud to launch an AI-based billing solution. In the showcases you will learn how Taulia has addressed the pain industry that deals with the processing of bills. Supplier invoices are typically created in a variety of formats, including unstructured data that is difficult to process with current technology.
This outdated workflow leads to significant manual intervention, a high administrative burden and ultimately to a delay in payments. According to a Gartner study, more than 80% of all data generated by companies worldwide is in unstructured formats.
With cognitive billing, companies can successfully process invoices in any file format from their suppliers.
The solution uses AI cloud's Document Cloud Optical Character Recognition (OCR) functions to read and interpret unstructured supplier invoice data on Taulia's global invoice platform.
Exceptions can easily be handled collaboratively – in the cloud – and can be corrected by both parties. This enables an automated end-to-end billing process for buyers and suppliers.
By fully automating the process through the use of AI, cognitive invoicing reduces the cost of processing a bill from US dollars to cents. The ability of companies to process and approve invoices faster also means that their suppliers have the ability to access early payments and improve their liquidity.
Brady Cale, CEO of Taulia, explains, "With KI, we've finally cracked the persistent billing issues many businesses face. We are now in a position to fully realize our vision of allowing buyers and suppliers to freely share information.
"The faster an invoice can be processed, the sooner it can be included in the company's working capital strategy. This creates more opportunities for companies to free up money. It's a complete game changer for finance teams. "
Pallab Deb, head of Google's ML technology partner, said, "Organizations are looking for simple, scalable solutions to gain deep insights from their unstructured content and documents.
"We are delighted to be able to offer Document Understanding AI in collaboration with partners like Taulia, so that our clients can gain valuable insight from their documents."