Digitizing Receipts: For Simplified Business Expense Tracking With querifai.ai

Using querifai.ai’s text extraction APIs, easily convert your paper receipts and bills into digital format. This will save you time, reduce the need for manual work, and minimize errors.

Please note: This is a shorter version of the original article, the full version can be found here.

Overview

This guide shows how querifai.ai’s document analysis makes it simpler to handle expenses by transforming financial documents, such as receipts and invoices, into digital files. Enhance productivity and precision using our easy-to-use AI SaaS platform with no coding required.

Please note that the fully detailed article can be found on here, which provides comprehensive results, multiple cases, and instructions on integrating the API into your platform using Python code.

What is querifai.ai?

querifai.ai is an AI SaaS platform created for business professionals and individuals with limited or no AI expertise. Our platform offers easy access to a variety of AI services, minimizing the need for technical knowledge. Simply input your data, and our platform takes care of the rest by utilizing multiple service providers on the cloud, such as Google, AWS, and Azure.

Transforming Paper Receipts into Digital Format with querifai

• Optical Character Recognition (OCR) is a technology that transforms scanned documents or images into machine-readable, editable, and searchable formats.
• querifai.ai’s OCR feature efficiently extracts information, such as dates, quantities, amounts, and vendor details, from receipt images.
• This data is then organized into a table format, ready for integration into tools like Excel.
• querifai.ai’s OCR suite is versatile, serving not only individual expense management but also businesses of all sizes.
• It automates operations, enhances efficiency, reduces errors, and streamlines expense management.
• Access the OCR services of Google, Microsoft, and more through querifai.ai’s user-friendly API with a standardized interface.

Extract Tables and Key-Value Pairs from a Simple Stationary Shop’s Receipt

Consider a basic receipt containing information such as invoice number, item description, quantity, rate, total items, and total amount.

The image below shows the overall results of each service, including the number of entities, tables, and their fill level, along with their confidence in percentage, representing their accuracy.

Additionally, also in-depth results are shown, demonstrating the extracted key-value pairs and the tables from the receipt.

The following table is extracted by Google, which can be easily copied into Excel.

You can copy the table by clicking on the clipboard icon on the top-right of the table, paste it into the Excel sheet for record-keeping purposes, and process the results further.

Below is the depiction of the key-value pairs extracted by Azure with high confidence.

Key Findings from Using Multiple APIs for Receipt Digitization

• Accuracy for receipt digitization varies among Google, Azure, and AWS due to their specific strengths and weaknesses.
• Combining results from multiple services boosts confidence and validation.
• Poorly structured or unclear receipts can benefit from image enhancement and layout standardization.
• Implementing the “four-eye principle” with human verification enhances data extraction accuracy in AI receipt digitization.

Conclusion

Finally, whether you’re digitizing a few receipts from a business trip or seeking a robust solution for an accounting center, querifai has the right solution for you. Access OCR services through our user-friendly interface or integrate them into your own environment using our API.

See our detailed article here