What is Invoice OCR?
Invoice OCR, short for Optical Character Recognition, revolutionizes data extraction from invoices. This technology replaces manual data input with a seamless, swift, and precise digital process, enhancing efficiency and accuracy.
Utilizing advanced algorithms, Invoice OCR efficiently scans and interprets key details such as sender and receiver addresses, line items, tax information, totals, and more from invoices. This technology not only eliminates the need for manual data entry but also enhances efficiency in financial workflows. Businesses can leverage Invoice OCR to improve accuracy, reduce errors, and expedite the processing of financial transactions, ultimately leading to increased productivity.
Below is an overview of which information Invoice OCR extracts.
Highlights
Comprehensive Field Coverage
Eagle Doc Invoice OCR offers comprehensive field extraction from invoices. It captures all essential data points for your business, eliminating the need for additional steps like manual data labeling or model training.
- More than 60 distinct fields
- Array of product line items
- Detailed tax breakdowns
- And more...
Cross Check and Inference
Using advanced cross-field analysis, Eagle Doc ensures data integrity and fills in gaps by intelligently validating and reconstructing information from original invoices.
- Cross check and inference among language, currency, date format, city and country
- Cross check and inference among product prices, total price and tax items
- Cross check and inference among unit price, quantity and product price
- And more...
Extraction of Tax Information of Products
Eagle Doc Invoice OCR delves into details to uncover hidden tax information for products on invoices. It extracts tax information for each product line item. This feature is particularly useful for businesses that need to keep track of tax information for each product.
Even when only tax label is available, Eagle Doc Invoice OCR can still extract the tax percentage, by checking tax labels.
Broad Localization
- Any Currency
- 40+ languages
Unmatched Accuracy --- 95%+
Eagle Doc meticulously evaluates the confidence levels of its extractions. By leveraging fine-tuned Language Models (LLMs) to refine low-confidence results, it achieves exceptional accuracy. This approach maintains efficiency and cost-effectiveness by only utilizing LLMs when necessary.
- Superior precision in data extraction
- Cost-efficient operation
- Overall swift processing times
- Elimination of LLM related problems such as hallucinations and security vulnerabilities
- No additional cost
Connect your app to Eagle Doc easily with our REST API. Just send your invoice images or PDFs to the Eagle Doc Invoice OCR endpoint. For more API details, take a look at our Invoice OCR Documentation.
