Customer data platform Sensitivity launched an Invoice Extractor API, building on the Receipt Extractor API unveiled last year.
As Martech Series has reported, this new tool offers financial services companies a new source of customer data.
Sensibill says its solution enables small businesses to download paper and digital invoices quickly and seamlessly in an automated process not found anywhere else in its market, helping small businesses reduce errors, costs and the time it would take for manual entries.
The company’s optical character recognition and machine learning technology categorizes, normalizes, and structures key invoice fields (merchant, total, taxes, etc.) to give financial services companies insight into behaviors and needs small businesses.
“As we continue to expand the types of financial documents we analyze, exciting new possibilities emerge for us and our clients,” Sensibill Vice President of Products Craig agulnek said in a blog post.
“With our best-in-class invoice extraction solution, which is built on industry-leading security and privacy standards, small businesses can streamline what has been a historically cumbersome process, making invoices easily understandable and categorizing them into item level in real time. “
Read more: Sensibill deploys new tool for automatic receipt extraction
The deployment of the Sensibill Invoice Extract API comes just over a year after the company’s Receipt Extraction API.
“The combination of these products makes customization efforts achievable and achievable for any business,” said Agulnek.
Like this new product, this one is powered by multi-brain processing and uses multi-character optical recognition and machine learning to provide clients with accurate results.
The service can be used by businesses such as corporate accounting offices to reduce costs, while financial service companies, such as accounting software companies or personal finance management providers, can use the service. data at SKU level to personalize their services.
Sensibill CEO Corey Gross said at the time that there was “a new urgency around cost savings, efficiency, digital engagement and innovation in otherwise mature markets. “.