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Invoice Analyzer

The need:

An insurance company receives hundreds of thousands of invoices per year.

Due to this number, is complex to analyze it manually or consume a big number of resources to do it. Attending to our experience, there are anomalies on these invoices.

Sometimes, a third party charges the insurance company for items that are not covered by the insurance company. These anomalies could represent important costs at the end of the year. Having an automatic system to analyze these invoices and to detect anomalies could save money and time at the end of the year.

The solution:

  • Create an application that automatically extracts all the content of an invoice: service, address, names, customer, dates, items

  • Analyze all the items to find the anomalies (the things that the insurance company does not cover).

  • Sort, search and, review easily these invoices and the anomalies on it.

The ROI:

  • Attending to our experience is possible to get an average of more than 1€ back per invoice.

  • This is a question you can answer in 10 seconds with this approach. What are the invoices between January and February in Madrid from Carglass that have charges for Replacement Car (not covered)?

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