Project

AUTOMATED INVOICE RECONCILIATION PLATFORM

Client

Nordic Service

General info

Client

Nordic Service offers a platform that identifies and classifies tax documents (primarily invoices) and reconciles them as part of the accounting process. This supports actions like management accounts and codes as well as other financial decisions.

Project

DLabs.AI designed and developed a platform that automates the process of invoice reconciliation.
The tool removed the manual effort involved in classifying invoices, helping the accounting department better track costs.

About the project

Problem

Nordic Services had to classify over 20,000 invoices manually, primarily to help with accounting and decision-making.

Solution

Automatic invoice classification streamlined a repetitive business process, enhancing output by using advanced machine learning algorithms.

Results

The tool auto-classified over 83% of all invoices, significantly reducing the manual overhead of a time-consuming task.

Project duration

5 months

Before & after

Before

After

  

Technologies used

Python

Django

Pandas

React.JS

ES6

Keras

TensorFlow

Ansible

OpenCV

Tesseract

Docker

Nginx

  

The path to success

Step 1: Remove manual labor

The client had to process 80,000 invoices, of which over 23,000 were done manually

The new tool means 83% of invoices are processed automatically

This frees resources to focus on value-adding accounting tasks

Step 2: Simplify the process

The new setup has put power back in the hands of the decision-makers, simplifying a time-consuming business process through automation

Step 3: Leverage the new system

In combining machine learning techniques with accounting expertise, we’ve developed a unique system that enables optimal results

See it in action

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