Line recognition is the process of detecting specific information within a line of text on an invoice, such as amounts, dates or supplier details. Software used applies advanced algorithms to analyse the structure of the invoice and extract relevant data. This helps to process invoices more efficiently and reduce manual errors.
What is the result of line recognition?
Line recognition in invoice processing software offers administrations several advantages. The main benefit is that rule recognition improves the efficiency of administrative processes by reducing manual data entry. This results in faster processing of invoices and increased productivity within the administration. Moreover, it increases the accuracy and speed of invoice processing by automatically identifying key information such as invoice numbers, amounts and dates. This reduces the risk of errors and minimises human error.
Breakdown of journal entry lines in TriFact365
TriFact365 offers automatic line recognition as standard for all administrations. The software presents journal entry proposals, broken down into multiple entry lines, based on OCR and machine learning. Here, data validation always takes place. The validation of the amount is particularly important in this. As long as there are no discrepancies in the different recognised amounts, a breakdown will take place. TriFact365 then supplements the recognised data with data available from historical entries. In this way, we ensure that there is a complete posting proposal. To know more about line recognition, click here.