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Bengaluru (Karnataka) [India], October 19 (ANI/BusinessWire India): Clear, India's leading fintech SaaS firm, today announced the launch of Clear Capture, an AI-based end-to-end solution for enterprises to streamline their accounts payable journey. The tool allows the Accounts Payable team of enterprises to automate purchase invoice entry and detect non-compliant and fraudulent invoices coming from their suppliers. Clear Capture empower an enterprise's AP team by automatically validating all their incoming invoices and extracting the invoice data to bring over 90 per cent automation into their invoice booking process. Its AI-based data extraction technology cuts the invoice entry time from ten minutes per invoice entry to a few seconds. With Clear Capture, the company expects to digitize and validate 75 million purchase invoices with an average invoice value of Rs 50,000 in three years. The tool runs 45+ compliance checks on invoices to identify mismatches by analyzing and comp

Businesswire indiaClear captureAccounts payableBengaluru karnataka indiaCtober 19 ani businesswire india clearNdia 39s leading fintech saas firmOday announced the launch of clear captureN ai based end to solution for enterprises streamline their accounts payable journey the tool allows team of automate purchase invoice entry and detect non compliant fraudulent invoices coming from suppliers clear capture empower an enterprise 39s ap by automatically validating all incoming extracting data bring over 90 per cent automation into booking process its extraction technology cuts time ten minutes toa few seconds withHe company expects to digitize and validate 75 million purchase invoices with an average invoice value of rs 50000 in three years the tool runs 45 compliance checks on invoices to identify mismatches by analyzing and comparing invoice fields it also minimizes errors cuts short man hours needed for data entry which reduces overheads post validation ofHe users also get an option to export the invoices hassle free directly their erps or accounting systems archit guptaOunder and ceo of clearUot an important first step in the compliance journey of enterprise is recording invoice for goods received clear capture isa powerful tool digitisation by ap teams that reduces errors and time spent on our ai based technology can help enterprises save lakhs man hours each year quot prior to launchLear rana survey with 2000 enterprises across india aimed at identifying the pain points of managing accounts payable survey revealed that teams in spend more than 70 their time reconciling supplier invoices with purchase order and goods receipt data trends highlighted are not restricted to large alone mid sized dealing multiple vendors handling high volumes also faced similar issues 80 per cent respondents rely on people paper based processesNd it takes almost 8 minutes for data entry personnel to puncha purchase invoice respondents noted that due heavy dependency on fully manual approval processes such as inter office mail courier dispatches