Read how a Fortune 500 REIT automates its invoice payment processes, slashing manual key-strokes and cutting cycle time by 80%
Our client is a leading commercial, institutional and infrastructure real-estate investment trust (REIT). Its over 500 employees manage a portfolio of 1,000-plus properties across North America and Europe.
Commercial Real Estate
+500 professionals
United States
US, Canada, Europe
The client’s team was buried in numerous specialty bill types, many of which arrived in seasonal batches with tight turnarounds.
The stakes were high, as any mistake in keying numbers or missing a deadline could result in thousands of dollars of late fees, interest penalties, or worse.
Studies suggest that it costs anywhere between $12-20 to manually process an invoice, and the chance of errors can be as high as 1-5% per bill, compounding the impact to bottom line.
Despite efforts to digitize the process, most bills still came in via paper mail or PDF email attachments. A lack of central repository led to even more time spent chasing down documents.
Existing OCR solutions required constant templating / data trapping / retraining for every new or slightly-different document. This meant that the more formats they encountered, the less efficient the system became.
AP Coordinator for Fortune 500 REIT
Unity’s self-learning Document AI OCR module is designed for accuracy and reliability, pulling exact data without hallucinations with significantly less training requirements.
In addition, it doesn’t just look for total amounts and due dates like generic OCR solutions. It can also capture other relevant information that the client specifies, including usage data, energy rates, and other complex details.
Our Document AI OCR neural model can achieve over 94% accuracy after training on metadata from just one document, bypassing the previous limitation of requiring metadata from five or more documents.
Unity’s intuitive design and self-learning capabilities significantly speed up bill processing cycles. Users simply drag and drop a bill, the system ingests and analyzes the document within seconds. Any tweaks to mapping are automatically learned and applied going forward.
Our Document AI OCR solution uses our proprietary metadata tagging dataset and a custom extract-transform-load (ETL) algorithm, ensuring the data is transformed into a format optimized for neural model training.
Extracted data can be pushed into our Unity process automation platform, exported directly for custom analysis, or integrated via API into existing systems.
AP Coordinator for Fortune 500 REIT
Let’s discuss how StackDC and our Document AI OCR technology can help you with document workflow automation, automated invoice data extraction, no-touch bill processing and other manual labor-saving applications.
StackDC delivers an AI-first, no-code workflow-automation platform plus vertically focused modules that remove manual data work for real-estate and other ops-heavy enterprises.
