Products

At IQInvoice we transform Invoice Management with Seamless Integration and Smart Automation to deliver Unmatched Efficiency and Customization.

Account Payable

Accounts Payable automates your invoice management, offering customizable workflows, digitization, and processing capabilities for streamlined financial operations and enhanced departmental efficiency.

Vendor Management

Vendor Management optimizes your supplier relations by centralizing data for easy access, improving negotiations, availing invoice discounting with timely payment and fostering productive partnerships.

Expense Management

Expense Management automates your expense reports, from submission to reimbursement, streamlining processes, enforcing policies, and allow you to get more  insights for improved financial decisions and cost savings.

IQInbox – A Transformative Invoice Management Solution

Streamline your Accounts Payable with IQInbox: Ingest, digitize, and process invoices seamlessly

Digitized invoices with a dedicated extractor to upload all the invoices in IQInvoice ecosystem.

Dedicated Emails for multiple vendors to segregate on basis of region, types and other factors.

In-build Capture Engine automatically extract vendor name, PAN and Tax Id (GST).

Email Ingestion by IQINVOICE

IQInvoice’s IQInbox is a purpose-built solution designed specifically for Accounts Payable (AP) departments, streamlining invoice management from ingestion to processing. The application allows you to automatically capture and digitize invoice data received via email, making it easy for AP teams to manage, review, and process invoices efficiently. This reduces manual intervention, improves accuracy, and integrates seamlessly with the broader IQInvoice platform for enhanced workflow management.

How It Works

The process for Invoice Ingestion with IQInvoice follows these key steps:

Invoice Submission

Invoice documents are sent to a designated email inbox or uploaded manually. These invoices are queued for processing based on predefined rules (e.g., vendor, region, or invoice type).

Document Digitization

The IQInvoice engine transforms invoice documents (PDF, JPEG, PNG, TIFF) into a digital format, making data extraction possible.

Automation and Review

Leveraging automation, AP staff can review, validate, and correct extracted data before proceeding with the next steps.).

Data Extraction

Key invoice fields (Vendor Name, Vendor Tax ID, PAN, Total Amount, etc.) are extracted and stored in a relational format, ready for further processing in the IQInvoice platform.

Further Processing

Once the data is captured, it is available within IQInvoice’s AP platform for custom workflows, approvals, and other processing activities, such as ERP integration.e.

Key Features

IQInvoice’s Invoice Ingestion solution offers a range of features designed to improve the efficiency of your AP process:

Feature

Description

Document Import

Invoices can be uploaded manually or sent via email to predefined inboxes.

Capture Engine

Extracts key fields like Vendor Name, Tax ID (GST), PAN, and Total Amount.

Email Queue

Organize emails based on different vendors, invoice types, regions, or specific inboxes.

Duplicate Detection

Identifies and flags duplicate invoices to avoid double processing.

Importer

Transforms digitized invoices into a structured format (relational table) for use within IQInvoice.

IQInvoice Integration

Seamless integration with the IQInvoice platform for custom workflows, approvals, and more.

 

 

Supported File Types & Languages

  • File Formats: PDF, PNG, JPEG, and TIFF are supported.
  • Languages: Most languages using the Latin script are supported, ensuring broad compatibility across regions.

 

Advantages of IQInvoice Invoice Email Ingestion

  1. Efficiency Boost: By automating the ingestion and extraction of invoices, IQInvoice saves AP teams countless hours of manual data entry and reduces errors.
  2. Customizable Workflow: Once invoices are ingested, they can be processed according to custom rules and approval workflows in the IQInvoice platform.
  3. Error Reduction with AI: The system automatically detects duplicates, reducing the risk of accidental double payments. In addition, AI ensures accuracy in extracting key data fields from invoices.
  4. Confidence-based Automation: The automation framework is built to ensure accuracy for key header fields, minimizing the need for human intervention during invoice validation.
  5. Scalability: IQInvoice Invoice Ingestion can handle a high volume of invoices and allows for training on new fields, languages, or document types, making it adaptable to changing business needs.

 

General Considerations

  • While the system can handle complex invoices, simplicity in invoice design (e.g., avoiding complex tables within line items) will yield the best results.
  • The accuracy of extraction improves with more data for training, typically requiring about 500 documents for new fields or languages.
  • Confidence-based automation is limited to header fields, but ongoing improvements aim to expand this capability.
  • Integration with ERP systems for invoice creation (e.g., PO matching) is not provided out of the box but can be developed through custom workflows.

 

Ready to Improve Your AP Process?

By integrating IQInvoice’s IQInbox, you’ll automate tedious processes, reduce errors, and optimize your Accounts Payable workflow. With support for most file formats and languages, it’s a scalable solution for businesses handling a high volume of invoices.

For more details or to start a trial, Contact Us today!

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