Profluo offers a machine learning-based invoice processing solution that extracts and validates financial data with up to 100% accuracy, significantly reducing processing costs by up to six times. The platform integrates easily with existing ERP systems, streamlining workflows and enhancing operational efficiency for finance teams.
Funding
$137.5K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
EGFounders
Product
Problem
Many finance teams face challenges with manual invoice processing, which is often slow, error-prone, and costly. Extracting and validating data from various invoice formats can be particularly time-consuming and require significant manual effort.
Solution
Profluo offers an AI-powered invoice processing solution designed to automate financial operations and streamline workflows. The platform uses machine learning and OCR technology to accurately extract data from financial documents, including PDFs, JPGs, XML, and JSON files. By automating data capture and validation, Profluo reduces invoice processing costs and minimizes errors, allowing finance teams to focus on strategic activities. The solution integrates with existing ERP systems through pre-built connectors and APIs, ensuring seamless data transfer and enhanced operational efficiency.
Target Audience
Profluo targets finance teams and accounting departments seeking to automate invoice processing, reduce operational costs, and improve data accuracy.
Features
- AI-powered data extraction from invoices in various formats (PDF, JPG, XML, JSON)
- Support for optical and electronic formats using machine learning and OCR
- Line-item accounting with management of products, conversions, units of measure, and storage locations
- Customizable workflows with privacy filters, approval flows, automated reporting, and notifications
- Commercial validations, including 2-way and 3-way matching, terms and conditions, discounts, and price lists
- ERP integration via sFTP, AS2, API, and ODBC for fully accounted documents
- Support for multiple languages and character sets
- Proprietary ML models adapted to specific financial contexts