Multi-Currency Invoice Capture Using OCR and Payment File Mapping

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Solution Overview

Problem

Existing systems for capturing, trading, and paying invoices in industrial property matters face challenges due to incompatible accounting and banking systems across different countries, leading to difficulties in currency conversion, international wire transfers, and data compatibility.

Innovation Solution

A computer-implemented invoice capture system that receives an invoice image, analyzes it to identify biller and payer names, and uses fuzzy matching to correct names. It also converts currencies and generates files compatible with accounting and banking systems, facilitating seamless transactions across multiple currencies and countries.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Measurement precision

If manual invoice entry is used to ensure accurate data capture, then data accuracy is improved, but labor time and processing speed deteriorate

Engineering Contradiction:

Improvedata accuracyVSAvoidprocessing time

Core Design Contradiction:

Measurement precisionVSLoss of time

Solution Approach 1:

The patent replaces manual mechanical data entry with automated optical character recognition (OCR) and image analysis systems. The system captures invoice images, automatically extracts data fields through pattern recognition, and populates accounting systems without human intervention, thereby maintaining data accuracy while dramatically reducing processing time.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Solution Approach 2:

The invoice processing system performs self-service by automatically capturing, validating, and entering invoice data without requiring manual user input. The system self-corrects errors through validation rules and automatically reconciles data with existing supplier and client records, eliminating the need for manual verification while maintaining high accuracy standards.

Inventive Principle:

Principle #25Self-service

2Productivity

If existing automated invoice capture systems are used, then processing speed is improved, but compatibility with international accounting systems deteriorates

Engineering Contradiction:

Improveprocessing speedVSAvoidsystem compatibility

Core Design Contradiction:

ProductivityVSAdaptability or versatility

Solution Approach 1:

The patent creates a universal invoice processing platform that can handle multiple international accounting standards and formats simultaneously. The system is designed to adapt to different country-specific accounting requirements, currency formats, and data structures while maintaining a single integrated processing engine, thereby achieving both high speed and broad compatibility.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Solution Approach 2:

The system dynamically adjusts processing parameters based on the detected invoice origin and target accounting system. It automatically modifies data formats, currency conversions, and field mappings to match the requirements of different international accounting standards, enabling fast processing across diverse systems without sacrificing compatibility.

Inventive Principle:

Principle #35Parameter changes

3Measurement precision

If currency conversion is performed manually to ensure accurate exchange rates, then financial accuracy is improved, but processing time deteriorates

Engineering Contradiction:

Improvefinancial accuracyVSAvoidconversion time

Core Design Contradiction:

Measurement precisionVSLoss of time

Solution Approach 1:

The patent replaces manual currency conversion with automated electronic exchange rate retrieval and calculation systems. The system continuously accesses real-time exchange rate databases, automatically applies the appropriate rates based on invoice dates and currencies, and performs conversions instantaneously, thereby maintaining financial accuracy while eliminating manual conversion time.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Solution Approach 2:

The system performs preliminary currency conversion setup by pre-configuring exchange rate sources, validation rules, and calculation methodologies. Exchange rates are automatically retrieved and cached in advance, and conversion parameters are pre-validated, enabling instant accurate conversions without manual intervention during the actual invoice processing.

Inventive Principle:

Principle #10Preliminary action

4Reliability

If international wire transfers are initiated manually to ensure accurate payments, then payment reliability is improved, but operational complexity deteriorates

Engineering Contradiction:

Improvepayment reliabilityVSAvoidoperational complexity

Core Design Contradiction:

ReliabilityVSDevice complexity

Solution Approach 1:

The patent merges invoice processing, currency conversion, and payment initiation into a single automated workflow. The system consolidates multiple manual steps—invoice validation, supplier verification, exchange rate application, and wire transfer initiation—into one integrated process that maintains payment reliability while reducing operational complexity through automation and centralized control.

Inventive Principle:

Principle #5Merging (Combining)

Data Source

PatentUS12346944B2Computer implemented multi-currency invoice capture, trading, access and payment system

Publication Date: 2025.07.01 BILLTRADER PTY LTD

AI summary

A computer-implemented invoice capture, trading, access and payment system and method facilitate the automated capture of invoices in multiple currencies from payers and billers, automatic conversion into a local currency for the trading of those invoices against each other and generation of payment instruction files capable of effecting the efficient payment of those invoices around the world.