Spanning both the source-to-pay (S2P) and order-to-cash (O2C) cycles, Esker’s AI-powered solutions are built to vastly reduce repetitive and low-value tasks. The patented technology addresses the need for accurate automated data extraction on incoming documents. For businesses with a large customer base, keying information in manually for invoices, orders and other documents is time-consuming and expensive.

Esker’s newly patented AI technology uses traditional and machine learning algorithms to identify data fields, make routing decisions and suggest next actions with the goal of reducing the number of touches during processing as much as possible. The data is read from a document and the AI creates rules that define what data to retrieve and in which format. Through user input, these rules are adapted and the accuracy of the extraction process increases over time. This interplay of AI technology and human supervision reduces mindless and error-prone manual data entry down to almost zero.

The efficacy of Esker’s technology can be witnessed in the order management process. For example, each customer likely uses a different template for their purchase orders (POs) or even changes their layout occasionally. Capturing data from customer orders no matter the channel, format or layout they arrive in, AI retrieves the relevant information on both the header and line-item levels, such as shipping address, PO number, product references, quantities and prices. The machine learning technology then learns from user corrections, increasing the recognition rates after only a few adjustments. “One of the strengths of Esker’s solution is to naturally solve all the complexity of receiving thousands of orders in different formats and with a myriad of different characteristics and particularities,” said Gervasio Prieto, Customer Service Manager at CAPSA Food, an Esker customer. This technology does not only apply to order recognition in Esker’s Customer Service solution suite, but also to vendor invoices, remittances and deduction claims.

Esker has been steadily investing in R&D for utilising AI capabilities in all its solutions for nearly 20 years now. Already at the forefront of AI technology when this patent application was submitted 12 years ago, auto learning is still used in Esker’s solutions today. This technology was expanded on with additional layers of deep learning neural networks.

“When we started on the AI journey at Esker, we focused our efforts on data extraction in order to decrease manual data entry for incoming invoices and orders,” said Jean-Jacques Bérard, Vice President of Research and Development at Esker. “This project has expanded to enriching the extracted data with predictive and prescriptive functionalities such as detecting anomalies in orders, predicting the invoice analytical axis, or proposing an answer to a customer request. This combination of human and artificial intelligence allows for making the work more engaging and efficient.”

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Esker UK

Unlocking Positive-Sum Growth with AI-Driven Business Solutions for P2P & O2C Cycles

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Esker, a global cloud platform and leader in AI-driven process automation solutions for finance and customer service functions, today announced the issuance of U.S. Patent No. 11494551 by the U.S. Patent and Trademark Office (USPTO) for Esker’s Document Coding Prediction technology.

Spanning both the order-to-cash (O2C) and procure-to-pay (P2P) cycles, Esker Synergy AI is built into the solutions to vastly reduce repetitive and low-value tasks. Manually entering data for invoices and other documents is time-consuming and often leads to accounting errors. Esker’s Predictive Coding feature addresses this problem by utilising a powerful set of AI technologies to automatically match data from existing records.

Having focused its investment strategy on how AI technology can enhance business process automation for over 10 years, Esker has engaged in extensive research on deep convolutional neural networks. As an example, the newly patented Predictive Coding feature can anticipate GL account, cost centre and tax code/rate assignments on incoming invoices. The “brain” embedded in Esker’s solutions identifies data from similar existing documents and recommends detected information in order to complete the data-insertion process. The suggested action can then be either approved or rejected. Esker Synergy AI allows customers to benefit from high recognition rates from day one.

Esker’s efforts to build new AI capabilities such as auto-coding, email triage, improved document recognition as well as anomaly and fraud detection have resulted in solutions that streamline business processes and empower employees. “It is often challenging to obtain AI patents because it is increasingly difficult to apply traditional patent approval rules to machine and deep learning inventions,” said Jean-Jacques Bérard, Vice President of Research and Development at Esker. “However, since Esker packages the algorithms into dynamic and comprehensive solutions that manage and analyse both structured and unstructured data to create efficient, simplified business processes, we are continuing to be successful in obtaining patents.”

“The fact that Esker Synergy AI makes use of the best of human intelligence and cutting-edge AI technology represents our approach to product development: The technology is not there to replace but to augment the work humans do, thereby making it more efficient and engaging,” said Jean-Michel Bérard, CEO at Esker. “The benefits of this symbiosis are experienced by the entire business ecosystem — from the customer, to the employees to the planet — creating positive-sum growth.”

Read full press release here.

Esker UK

Unlocking Positive-Sum Growth with AI-Driven Business Solutions for P2P & O2C Cycles

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Esker, a global cloud platform and leader in AI-driven process automation solutions for finance and customer service functions, today announced the issuance of U.S. Patent No. 11132407B2 by the U.S. Patent and Trademark Office (USPTO) for Esker’s automated batch-cutting technology.

Spanning both the order-to-cash (O2C) and procure-to-pay (P2P) cycles, Esker’s AI-powered solutions are  built to vastly reduce repetitive, low-value and time-consuming tasks. For accounting staff, this often meant having to scan paper invoices to create a digital file that then needed to be separated out by individual invoice. Esker’s AI-driven batch-splitting solution handles this process automatically.

These, and other process efficiency issues that arise in the financial cycle can be adeptly addressed by AI-powered automation. Esker’s global AI investment strategy was initiated more than 10 years ago and places its focus on exactly these kinds of concerns. After extensive research on deep convolutional neural networks, Esker efficiently handles document batch-cutting operations, thereby accelerating the processing of supplier invoices. This, in turn, improves the relationships with suppliers while simultaneously increasing internal productivity and job satisfaction.

For over 10 years, Esker has been steadily developing and broadening its expertise in utilising AI technology to streamline business processes with capabilities such as auto-coding, email triage, improved document recognition as well as anomaly and fraud detection. In concrete terms, this innovation eliminates the hours spent manually managing document batches and contributes to shorter payment periods. “This is in line with our goal of simplifying business processes by facilitating invoice management without disrupting established collaboration processes with suppliers and customers,” said Jean-Jacques Bérard, Vice President of Research and Development at Esker.

“Innovation is an integral part of Esker’s DNA, which is substantiated by the fact that we currently have two more AI-engine related patents pending with the USPTO,” said Jean-Michel Bérard, CEO at Esker. “The focus on automation technologies is one of the keys to our success, because at a time when the finance department plays an increasingly important role in a company’s digital transformation, it is essential that they can focus on the most strategically valuable activities.”

Esker’s AI-powered solutions equip businesses with technology that creates positive-sum growth, which enables companies to create value for every stakeholder — employees, customers, suppliers and the planet.  “We strive to prepare businesses to be a driver of meaningful change by enabling the entire business ecosystem to flourish,” continued Jean-Michel Bérard.

Read full press release here.

Esker UK

Unlocking Positive-Sum Growth with AI-Driven Business Solutions for P2P & O2C Cycles

Read more insights from Esker UK