Babel, a Spanish multinational specialized in digital transformation solutions and services, announces the development of an intelligent document processing solution for billing data extraction based on the use of Artificial Intelligence and Hyperautomation. With this solution, the consultancy addresses the widespread challenge faced by the accounting departments of large companies in managing large volumes of invoices, optimizing processes by more than 90%.
Currently, the accounting departments of many companies dedicate more than 70% of the day to the management of large volumes of invoices, which implies a significant expense of people and time. To improve this reality, Babel has created a program that optimizes these procedures, improves the collection processes and at the same time the quality of the extracted data, thus increasing its analytical exploitation. This allows teams to focus on tasks with higher added value, both for the company and for their professional development.
Complete integration
The solution developed by Babel is based on the use of technologies Data and Analytics Artificial Intelligence, for document processing and the extraction of information from non-standardized documents, and in Hyperautomation (RPA), for possible full integration with existing systems for the collection and operational storage of information, such as SAP HANA. In addition, the capabilities of the Azure Cloud are taken advantage of for the collection, processing and storage of information.
The results obtained are very positive. After applying it to a sample of 10,000 invoices, which represents approximately a real annual volume, a process efficiency of 90% has been achieved. Likewise, the success rate in the extraction of fields of the invoice documentary type reached an average of 98%.
“At Babel we are experts in dealing with this type of project and service in which data is the real protagonist,” he says. Ana Gómez, Head of Accounting of Babel of Spain. “One of our great differential values is to represent business processes objectively, taking advantage of the available data to improve the experience in consuming large amounts of information and then becoming a bridge between people and data. This has allowed us to achieve very good results. It is a project that can become a revolution for the accounting departments of companies. Because we have managed to reduce the dedication required up to now by less than half and redirect the people responsible to carry out tasks with greater motivation and with greater professional career expectations”.
Babel’s intelligent documentation processing solution represents a significant advance in the financial management of companies, allowing process optimization, cost reduction and higher quality in data extraction.
With this new solution, which is already implemented in the company itself in Spain and which is going to be implemented in the other 14 countries in which it is present, Babel consolidates itself as a benchmark in technology consulting at a national and international level and reaffirms its commitment to provide solutions that drive digital transformation and improve the efficiency of organizations.
