Invoice Comparison Extraction for Coupa
Next generation AI Invoice capture technology
Invoice Comparison Extraction (ICE) is a proprietary AI based invoice capture solution for Coupa customers. By comparison, most invoice capture companies use one of two methods to capture invoice details:
- Straight manual data entry (frequently offshore in India) where the accuracy of the capture is fully dependent on a human being’s ability to accurately key invoice information from an invoice image.
- Optical Character Recognition (OCR) where a computer-based program makes a single pass to extract invoice data accurately and relies on a human being to validate any fields the OCR program cannot extract.
While using OCR for Coupa is generally perceived to be the more accurate and forward-thinking approach to invoice capture, OCR for Coupa is not a perfect technology. OCR for Coupa still results in a significant number of invoices that need to be validated or corrected by a human processor after the Coupa OCR extraction process. That is where the ICE solution differentiates itself from the typical Coupa capture providers who use third party OCR software for invoice capture.
A significant differentiation using ICE is that the same data on a single invoice is extracted not once like OCR for Coupa but twice using different AI technology. Then ICE programmatically compares the dual AI extraction results to verify if the fields extracted by both intelligence levels are identical. Capture differences during the ICE comparison process are escalated to validate accuracy and review the data before transmitting the invoices to Coupa. As data exceptions are reviewed for accuracy the ICE solution for Coupa has AI learning capability to eliminate the same exceptions from continuously occurring on future invoices.
The ICE dual extraction AI solution results in significantly less need for manual review after extraction due to the AI technology within the capture process compared to OCR solutions for Coupa where the data is extracted only once. As a result, the ICE process for Coupa delivers accuracy levels of at least 99.95% which is significantly higher than OCR solutions for Coupa.
PO Line to Invoice Line Identification in Coupa
Invoices received by ICE to capture would typically not have the corresponding Coupa PO line number on the invoice to capture that is needed by Coupa to automatch to the invoice line. To accommodate that, ICE has a proprietary matching algorithm that aligns the captured invoice lines to Coupa PO lines. The benefit of this alignment in ICE is that when the invoice is sent to Coupa to match, the PO line to match to in Coupa is already matched to the invoice line by the ICE system which facilitates automated straight through processing of the invoice through Coupa PO matching without needing an AP person to manually match the invoice to the Coupa PO.
A Complete Invoice Processing Strategy
ICE is the perfect complement to Coupa’s eInvoice solution. The ideal scenario for a customer is for 100% of their invoices to be sent electronic to Coupa without the AP department having to manage the invoice receiving process or manually enter invoices in Coupa. Being it is not always possible for suppliers to transmit invoices as eInvoices immediately, ICE facilitates the ability for Coupa customers to be 100% electronic by ICE converting all the remaining paper and emailed invoices into eInvoices to transmit to Coupa.
The ICE pricing model does not commit Coupa customers to any minimum invoice volumes. As more invoices move to Coupa electronically less are sent through ICE thus reducing your overall ICE cost. ICE provides a completely managed services AI capture solution for Coupa that takes the entire burden off the AP department to receive and capture invoices to Coupa.
Key ICE Benefits for Coupa invoice customers include:
- Allows Coupa customers to be 100% electronic on day 1 using ICE combined with Coupa eInvoices
- No minimum invoice volume commitment required
- Handles all the common invoice image types, not just PDF’s
- 99.95% minimum capture accuracy
- Auto splitting of multi-invoice PDF’s into individual invoices
- No limit on how many invoices can be sent in one email
- Extracts the actual email as backup info to the invoice
- Can read handwritten invoices
- All major global languages supported for capture
- Proprietary invoice to PO line matching algorithm
- Prebuilt integration to transmit invoices from ICE to Coupa
- HIPAA compliant processing
ICE AI Invoice Capture for Coupa
