Accounts payable

Infrrd launches Infrrd for invoice | Nation/World

SAN JOSE, Calif.–(BUSINESS WIRE)–May 19, 2022–

Infrrd, a leading provider of Intelligent Document Processing (IDP) solutions, today announced the launch of Infrrd for Invoice, the latest addition to its innovative Artificial Intelligence (AI) technology portfolio.

Infrrd for Invoice incorporates the company’s proprietary and patented AI-powered IDP technology to extract and manage critical invoice information in the most accurate and efficient manner. IDP is a next-generation solution for extracting data from complex, semi-structured and unstructured documents. Unlike technologies before it, IDP can handle high levels of document complexity and variation using multiple AI and machine learning (ML) technologies.

Accounts Payable departments of organizations that process large volumes of invoices with many variations are excellent candidates for Infrrd for Invoice.

Infrrd for Invoice features include, but are not limited to:

  • AI first and modelless, capable of handling exponential volumes and variations, an area where other document processing solutions fall short.
  • Out-of-the-box invoice and accounts payable document templates make deployment quick and easy.
  • The Infrrd Field Library streamlines configurability, allowing businesses to choose from a variety of fields to create their own processing templates, based on their distinct needs.
  • ML-based capabilities drive continuous improvement in extraction accuracy, improving efficiency and productivity.
  • Automated PO matching links invoices to their respective PO numbers for seamless processing.

“Many organizations processing tens to hundreds of thousands of invoices per month still rely on manual intervention, which is neither scalable nor cost effective. Infrrd for Invoice enables these types of businesses to transform their back-office operations by leveraging AI and ML to increase productivity and reduce costs while utilizing their workforce to perform mission-critical tasks that benefit the business. This demonstrates the power of our IDP-based solutions,” said Infrrd Founder and CEO Amit Jnagal.

“The release of our latest AI-based solution, Infrrd for Invoice, complements our current IDP portfolio. We continuously identify market demands and needs and leverage our AI and ML technology to apply to areas that could benefit the most from our technology applications,” added Jnagal.

Infrrd’s customers can have confidence in the company’s IDP technology, as each solution offered is backed by industry standard certifications, such as ISO-27001, and is also compliant with the General Data Protection Regulation ( GDPR).

Infrrd for Invoice is available for immediate use by contacting [email protected]

About Infrrd

Infrrd, based in San Jose, Calif., is a leading provider of proprietary and patented Intelligent Document Processing (IDP) solutions, which leverage artificial intelligence (AI) and machine learning (ML) to enable companies to extract and manage data from semi-structured data and unstructured documents in large volumes. Infrrd offers pre-built and highly configurable solutions to manage complex documents with reliable accuracy, such as invoices, claims and bank statements, while allowing organizations to create and train new models. Companies around the world use Infrrd’s solutions to improve employee productivity, improve operations, accelerate business scalability, realize cost savings and deliver exceptional customer experiences.

For more information, visit www.infrrd.ai or connect with Infrrd on LinkedIn, Facebook and Twitter.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220519005744/en/

Susan Turkell, 303-766-4343, [email protected]

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: SOFTWARE ACCOUNTING PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY SMALL BUSINESS SECURITY OTHER PROFESSIONAL SERVICES HUMAN RESOURCES FINANCE OTHER TECHNOLOGY CONSULTANCY

SOURCE: Infrrd

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PUB: 05/19/2022 11:00 a.m. / DISC: 05/19/2022 11:02 a.m.

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