Euna Solutions Introduces AI-Powered Invoice Automation for Public Sector Agencies

Euna Solutions has introduced AI-powered Optical Character Recognition (OCR) to its Invoicing module in Euna Procurement. This enhancement automatically extracts key data points from PDF invoices, reducing manual input errors and accelerating workflows. The AI tool also provides confidence scoring to ensure data accuracy, and faster processing timelines. This innovation aims to streamline public sector workflows and improve efficiency for Accounts Payable teams.

Euna Solutions has introduced AI-powered Optical Character Recognition (OCR) to its Invoicing module in Euna Procurement. This enhancement automatically extracts key data points from PDF invoices, reducing manual input errors and accelerating workflows. The AI tool also provides confidence scoring to ensure data accuracy and faster processing timelines. This innovation aims to streamline public sector workflows and improve efficiency for Accounts Payable teams.

The AI-powered OCR technology is designed to recognize common invoice elements such as invoice ID, invoice date, amount due, and more. It supports various languages and file formats, including PDFs, and can process images up to 10,000 x 10,000 pixels in size. The model outputs detailed information with confidence scores, ensuring high accuracy and reliability [1].

The integration of this technology into Euna Procurement is part of a broader effort to modernize and digitize public sector operations. By automating data extraction and reducing manual processes, Euna Solutions aims to enhance the efficiency and effectiveness of public sector procurement.

Under the leadership of Anvesh Tiwari, Laraware Pvt Ltd has launched India’s first fully AI-powered fintech platform, Nxtbanking, setting a new benchmark for scalability, compliance, and innovation in the fintech landscape [2]. This initiative highlights the growing importance of AI in transforming financial services and underscores the potential for similar advancements in public sector procurement.

By adopting AI-powered OCR, Euna Solutions is positioning itself at the forefront of technological innovation in the public sector, with the potential to significantly improve operational efficiency and reduce costs.

References:
[1] https://learn.microsoft.com/en-us/ai-builder/prebuilt-invoice-processing
[2] https://economictimes.indiatimes.com/industry/banking/finance/anvesh-tiwari-leads-the-launch-of-indias-first-ai-driven-end-to-end-fintech-platform-by-laraware/articleshow/122766642.cms