Sensible adds an invoice extraction API to its financial services data platform.
Sensibill, a customer data. Platform Designed specifically for the financial services industry, it today announced the issuance of invoices. API. Sensibill has moved its industry-leading extraction services beyond the receipt receiver API to include invoices, which provide another source of customer data for financial services companies.
Sensible’s innovative invoicing solution enables small businesses to upload paper and digital receipts seamlessly and quickly. Unlike other options on the market, this process is fully automated, helping small businesses such as accounting firms reduce errors, costs and manual entry time. Proprietary Optical Character Recognition (OCR) and state-of-the-art machine learning ( MLTechnology classifies, normalizes, and structures all key invoice fields, including more than 150 data fields, including merchant, total, items, taxes, invoice numbers, due dates, dues, and more. As a result, financial services companies obtain clean, structured products in industry-standard formats, providing unparalleled insights into the psychology, behavior, and needs of their small business customers.
“As we continue to analyze financial documents, new and exciting possibilities emerge for us and our customers,” said Craig Agolink, vice president of product at Sensei Bill. Built on leading standards of privacy, small businesses that have historically been a cumbersome process can easily make invoices understandable and rank them at item level in real time. Increases efficiency and accuracy, but also allows financial services companies to better understand their small business customers, which ultimately contributes to revenue growth and a stronger competitive currency.
Sensible solution is lightweight, easy to integrate and developer friendly. Financial services companies do not need technical background or expertise to start issuing receipts in a matter of minutes. Ideal for accounting and expense management providers, this solution reaches merchants of all sizes and supports a variety of invoice formats. By streamlining and automating invoicing, these companies can eliminate manual data entry for their finance teams, reduce manual errors, and increase efficiency. Companies can then use these insights to maximize exposure to consumers’ business costs, maximize active savings, recommend additional products and services, help them prepare for the tax season, and more. ۔ Those who use both invoice and invoice issuance APIs can gain in-depth insights into customer spending and personalize scale experiences. Agolnik added, “The combination of these products makes personalized efforts achievable and achievable for any company.”