Sales receipt automation with OCR & data extraction
Sales dockets carry the valuable information needed for trade between companies, some of which must be stored somewhere to manage the business effectively since disposable papers are insufficient. Traditionally, it’s a manual process – both extraction and entry into the database.
Implementing sales receipts processing automation with OCR and data extraction optimizes the entire process.
Current sales data can be exported on the go, to your systems where you have a clear overview of day-to-day progress, or changes in the inventory.
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Optical character recognition converts images, such as photos or scans, into machine-encoded text. The model handles low-quality so worry not about multilingual symbols, poor image quality, and stains.
The core feature of our technology is the powerful data extraction component. With AI and ML at its core, entity extraction understands the context of data fields. You can also customize the fields you’d like to extract.
Based on the contents and layout of the doc, the platform automatically labels the incoming files and sorts them. The first segmentation requires no manual work.
Connect Alphamoon with your stack through API or via Zapier. Add a database like Google Drive or OneDrive to source new documents straight to the document automation tool.
Have questions about the product? Read the most common ones, or head to the full FAQ below.
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What processes can I improve thanks to sales receipt OCR automation?
Sales receipts automation is the most widely accepted aspect of data automation, and for a reason – every business must comply with current economic processes.These include bookkeeping, inventory management, expense tracking and management, auditing, and fraud detection. Such a vital process requires a keen eye and devotion to ensure business success; thus, implementing sales docket OCR automation benefits every business, from retailers to hospitality services, manufacturers, warehouse workers to e-Commerce businesses and financial institutions.
What formats can I process in Alphamoon?
The platform supports common file types, including PDF, DOCX, XLSX, PNG, JPG, TIFF, and emails. After data extraction, data appears in a file, ready to be downloaded as CSV or XLSX or safely imported into the internal processing system of your choice through API or Zapier.
What kind of data can be read from sales receipts?
Sales dockets contain a wealth of information that provides insight into various aspects of the business. The data varies from country to country, though most sales receipts have a set of universal essential data – such as the date and time of the sale, the unique transaction ID, and the payment method used. Some also include product information such as product name, SKU (Stock Keeping Unit), description, quantity sold, and unit price. All sales receipts have information on the amount of taxes (VAT or GST), discounts, promotions that were applied, and payment details.
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