Remittance Advice

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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 Framework Document Skill, trained on a smaller set of documents, but with key data points from remittances defined and labeled. Customers can use this Framework Skill as a starting point for further training the skill-based on incoming documents, or to adjust the extracted fields and business rules to their own requirements.

Benefits

  • Framework Document Skills provide a quick-start basis for conducting proof of concept and automating document-centric processes, without wasting time to train a new skill from the ground up. In most Framework Skills the main data fields have been labled and the skill has been trained on a small document set to provide a starting point for further training on customer side. Framework Skills generally come at no additional cost, but consume page volume from the base Vantage Core Skills volume.
  • The model automatically detects key fields on the remittance advice and extracts relevant data (customer, busines unit, 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 business unit automatically, or allows to match against an existing database for optimal accuracy.
  • 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.

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