BlogItemize Product

Itemize Delivers 98% Extraction Accuracy

By July 10, 2018 August 9th, 2018 No Comments
Print Friendly, PDF & Email

Written by Ryan Courtade, Director of Product and Marketing

Managing expenses and payables is a colossal drain of time, energy, and focus. Ten years ago, as the manager of a small company with 50 employees, I remember spending half a day every month going through the monthly credit card statement, collecting the physical receipts, putting them in order, paper clipping the stack to the statement, and submitting them to the company owners.  Now, a decade later, perhaps due to an aversion to technology, experience with inferior solutions, or a comfort in this known process, countless companies and managers are still doing their expenses this way. It is a slow, time consuming, inefficient, and error prone process.

Itemize is taking expense management to a new level with practical technology by rolling out a comprehensive receipt capture and reconciliation solution. After six years of experience using cutting-edge AI to extract receipt data, we know that automated systems can still stumble on scenarios like poor lighting, faded ink, and handwritten modifications. For these rare cases, we are now manually reviewing, editing, and validating the document data. With proven Artificial Intelligence, Machine Learning, Optical Character Recognition, and now a validation and review engine in place, our customers can be confident that Itemize returns accurate results every time.

At Itemize, we strive to be the leader powering sophisticated, fast, and accurate expense management solutions. Whether it be for a small company that needs a mobile application to share expenses with its accountant, a large corporation that needs to process tens of thousands of expenses and invoices into its ERP, or a development company looking to create the next big business software idea, Itemize has you covered for receipt and invoice data extraction and matching.

This new feature is now available to current API clients upon opt-in. Over the next 60 days, we will also be rolling out this feature to all paid Itemize App users.

Contact for information on how you can take advantage of Itemize’s new offerings or to see Itemize’s capabilities in action.