The solution, slated to launch at Google Cloud Next ’19, showcases how Taulia has addressed the pain employees experience while processing invoices.
The platform, dubbed Cognitive Invoicing, leverages the optical character recognition (OCR) capabilities of Google Cloud’s Document Understanding AI to read and interpret unstructured supplier invoice data on Taulia’s Global Invoicing Platform.
This partnership between Taulia and Google Cloud is set to drastically simplify invoice processing, as well as reduce costs involved in the process. When businesses are able to process and approve invoices faster, it also means that their suppliers gain a greater opportunity to access early payments, improving their liquidity. This also speeds up internal organizational processes, giving employees more time to be creative, and get better results.
“Using AI we have finally cracked the intractable invoice processing issues that many businesses face. We are now able to fully realize our vision of enabling buyers and suppliers to freely exchange information,” says Brady Cale, CTO of Taulia. “The faster an invoice can be processed, the sooner it can be leveraged within the company’s working capital strategy, thereby bringing more opportunities for companies to free up cash. It’s a complete game changer for Finance teams.”
“Enterprises are looking for easy, scalable solutions to extract deep insights from their unstructured content and documents,” said Pallab Deb, Head of ML Tech Partners at Google. “We are thrilled to offer Document Understanding AI in collaboration with partners like Taulia to enable our customers to unlock valuable insights from their documents.”