Unstructured Invoice Data Verification via OCR and Database Cross-Referencing
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Solution Overview
Problem
Current methods for verifying supplier data, particularly in unstructured formats like invoices, are inefficient, costly, and prone to errors due to the lack of standardization and the difficulty in processing unstructured data.
Innovation Solution
A method and apparatus for verifying data in unstructured data sources, which involves processing the data to locate predetermined structured elements, such as company identifiers, accessing databases to retrieve associated data elements, and comparing these elements to provide verification indications.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If manual verification methods are used to check supplier data in unstructured formats, then verification accuracy can be maintained through human judgment, but processing efficiency and productivity deteriorate due to the time-consuming nature of manual lookups and interpretation
Solution Approach 1:
The patent introduces an intermediary system comprising an unstructured data processor and verification engine that acts as a mediator between the unstructured invoice data and the verification databases. This intermediary automatically extracts structured data elements from unstructured formats, performs verification against multiple databases (company register, tax authority, credit bureau), and presents results to users, thereby maintaining accuracy while dramatically improving processing efficiency
Solution Approach 2:
The patent replaces the mechanical manual verification process with an automated electronic system. The unstructured data processor uses optical character recognition (OCR) and natural language processing to extract data from invoices, while the verification engine automatically queries databases and performs credit checks, substituting human manual operations with automated computational processes that are both faster and equally accurate
2Reliability
If comprehensive verification checks are performed on all supplier data elements, then data reliability improves, but system complexity and operational difficulty worsen due to the multiple manual steps required
Solution Approach 1:
The patent merges multiple verification functions into a single integrated system. The verification engine simultaneously performs company register lookups, tax authority verifications, credit bureau checks, and bank account validations through unified database connections. This consolidation maintains comprehensive verification coverage while reducing operational complexity by presenting all results through a single interface rather than requiring separate manual processes for each verification type
Solution Approach 2:
The patent creates a universal verification system that handles multiple types of supplier data verification through a single platform. The system can verify company existence, tax registration status, creditworthiness, bank account validity, and invoice authenticity all through one integrated process, making the complex multi-step verification process accessible and manageable for standard operational use
3Ease of operation
If standardized data formats are implemented for supplier information, then processing ease improves, but adaptability worsens due to the difficulty of accommodating existing unstructured invoice formats from various suppliers
Solution Approach 1:
The patent changes the parameter of data structure by implementing an unstructured data processor that can handle variable invoice formats. The system uses OCR and natural language processing to extract data elements from diverse unstructured formats, then transforms this unstructured data into standardized structured format suitable for database verification. This parameter transformation maintains adaptability to various supplier formats while enabling standardized processing of the extracted information
4Reliability
If multiple independent verification steps are performed manually, then verification thoroughness improves, but loss of time increases due to the sequential nature of manual processes
Solution Approach 1:
The patent implements continuous automated verification processes that operate without interruption. Once an invoice is uploaded, the unstructured data processor continuously extracts data elements and the verification engine continuously queries multiple databases in sequence without human intervention pauses. The system maintains thorough verification by performing all checks (company register, tax authority, credit bureau, bank validation) in continuous automated succession, reducing total processing time from multiple manual steps to a single continuous automated operation
Data Source
AI summary
The present invention relates to an apparatus and method for verification of data contained in an unstructured data source, such as a supplier invoice. It is very difficult to obtain information from an unstructured data source, such as an invoice, using processing technology, without error. The apparatus and method are arranged to locate a predetermined data element in the invoice, using an optical character recognition application. The predetermined data element may be a company number, such as an ABN. The ABN can then be used to access databases to obtain further information relating to the supplier. For example, account details. The further information can be cross referenced against the unstructured data to confirm that the further information, such as account number is present in the unstructured data.