HubBroker Introduces PDF2XML Solutions Aimed at Minimizing the Need for OCR Technology
HubBroker, a leading provider in enterprise integration solutions, e-invoicing and EDI, is introducing a new, more efficient way to capture data from PDF business documents automatically with near perfect accuracy. HubBroker’s PDF2XMl or PDF invoice extraction service easily extracts data from any PDF, creating a touchless invoice automation process.
“With PDF conversion solutions, we are taking the next step in helping our customers attain maximum efficiency and gain touchless invoice processing. Suppliers simply email PDF invoices, and through our iPaaS system, our customers receive invoices in their preferred format, without making a process change on the supplier or buyer side. Suppliers can email PDF invoices directly from their ERP system. HubBroker takes care of the data extraction, data validation and augmentation process automatically by using an array of technologies including deterministic algorithms, machine learning and optical character recognition,” explains Jens Toke, Director, HubBroker.
An analysis by Hubbroker shows that 77% of PDF invoices are machine-readable, which means they can be processed automatically by extracting the invoice information directly from the PDF file without the need for optical character recognition (OCR) technology. The benefit over OCR is quicker processing and reduced room for character interpretation that can cause invoice exceptions and human intervention. With PDF2XML, the exact information from the supplier’s ERP system is communicated directly into the buyers’ purchase-to-pay solution – meaning errors will become a thing of the past.
“There is an increasing need to address the gap between invoices received as structured data in EDI/XML format, and paper invoices that are currently processed with the help of OCR. We have seen organizations concentrate on building complex EDI/XML connections with their strategic or high-volume suppliers and later settle for paper invoices and OCR to connect to their long tail. We know that a simpler, smarter way to process PDF invoices can fill this gap. Sending PDF invoices via email is one of the most used invoicing methods around the world. With our solutions, we make it easy for both the buyer and supplier, while maximizing automation and efficiency. Buyers can avoid late payments resulting in happier suppliers enjoying shorter Days Sales Outstanding” Jens continues.
Hubbroker's solutions have several key benefits:
- Buyers can connect to all their suppliers – large and small – without changing anything on the supplier side.
- This solution can be used with any typed of PDFs
- Our solution is self-learning, which means it learns from transactions as it goes for continuous improvement, increased automation rates and more efficiency.
“All of this results in significant savings opportunities to our clients by eliminating exceptions. One of our clients estimates a savings of nearly 18 euros per invoice,” Jens Toke adds.
About HubBroker:
HubBroker ApS offers EDI Solutions & iPaaS integration platform to all types of small & large businesses. HubBroker Aps has developed an iPaaS system, which reads and writes PDF and other formats automatically. They integrate their iPaaS with various ERP accounting platforms like e-conomic, Uniconta, Dinero, Billy, Opencart, Microsoft Dynamics, Amazon, Shopify, SAP, Magento, Alibaba, Debitoor, QuickBooks, Xero, Visma, Oracle, Tradeshift and many more. They are authorized partners of many online accounting systems in Denmark, USA, Canada and several European countries.