What is Docsumo?
Docsumo is an automated document processing solution that helps
accountants accurately extract data from any document in any
layout without manual setup. We are starting with automated
invoice processing. USA, Europe & India alone process 67 billion
B2B invoices annually. Yet most of these are manually processed
which takes time and is error-prone. Docsumo uses deep learning
to extract and validate data from invoices. It immensely reduces
manual errors and saves an accountant countless hours every
month. Our goal is to free up people from manual data entry.
What fields does it capture?
Docsumo captures over 20 fields from an invoice such as total,
amount paid, amount due, tax details, invoice id, order id,
customer id, vendor name and address, recipient name and
address. Our AI is highly customizable and can be trained to
capture any other detail as required.
Does it capture handwritten invoices?
No, at this point Docsumo does not work for handwritten
invoices. It will capture printed and computer generated text
from the invoice but you will have to process rest of the
handwritten information manually.
Do you provide on premise installation?
Unfortunately, no. Our technology is evolving rapidly and
maintaining on premise installations is really difficult at this
point in time. We do though integrate with most other softwares
and have excellent security measures in place if that is your
concern.
Do you provide data review service?
Yes, please let us know if you would like us to review the
extracted data for a small additional fee per document. Our
reviewers try to ensure that the extraction is nearly 100%
accurate, so that you never have to review the document
yourself.
How does it work technologically?
Docsumo uses self-driving car technology for document data
extraction to achieve a very high level of accuracy. It also
validates the extracted data, thus eliminating the necessity for
human-in-the-loop for most documents. Unlike traditional OCR
solutions that work only for fixed layouts (25-30% of total
volume), Docsumo works with invoices in any layout with 95% plus
accuracy. It solves both the data extraction and validation
problems.
Do you have a mobile app?
Not yet, we are working on it. We want to make invoice & receipt
processing as simple as sending a text message for all
stakeholders in the company. That is our ultimate goal. We have
limited resources and will be launching our app soon. Please let
us know if this is a pressing requirement for you.
Do you provide reports?
Yes, we track most of the actions taken on the system and
provide a monthly report detailing the time spent by operators,
invoices processed, validations performed, accuracy achieved and
various other metrics. Please let us know your requirements.