Remittance advice is a letter sent by a customer to a supplier to inform the supplier that their invoice has been paid. The Remittance Advice Skill is a trained document that has already be labeled and trained that will extract key data points from remittances.
Customers can use this skill as a starting point, and further train the skill based on customers documents. The extracted fields and business rules can also be modified to meet the users' requirements.
- The skill model is trained to automatically detects key fields on the remittance advice and extracts relevant data (customer, vendor, payment and bank information, line items etc.). For a full list of extracted fields, please see the skill documentation.
- Includes business rules for required fields, checks or calculates amounts. Further business rules can be added as individually required.
- Detects customer and vendor automatically.
- Can be augmented by human-in-the-loop review and verification based on accuracy thresholds, missing or incorrect information.
- Requires further training in order to ensure sufficient accuracy levels on customer-specific documents. Training can be done up-front or during runtime as documents arrive and go through manual verification.