Fakturoid is an online invoicing platform used by tens of thousands of clients and operating in the Czech market since 2009. Their aim is to provide users with simple and effective solution for automating invoice management, expense tracking, tax return generation, advanced statistics, accounting exports, and other services.

Problem

For a long time, Fakturoid had been providing the "Virtual Inbox" feature for uploading digital or scanned invoices and receipts for expense tracking. However, after uploading receipts, manual data entry was required from these documents for expense tracking within the platform. This process was highly inefficient, consuming a lot of time, increasing the risk of transcription errors, and also resulting in delayed data. Therefore, Fakturoid sought a partner to integrate with technology capable of automating this part of expense tracking.

Solution

Digitoo provided technical integration using its API, enabling the use of artificial intelligence and OCR technology for automated data extraction from documents. Now, directly within Fakturoid platform, after uploading documents, expense data is automatically transcripted and transferred to the tool within seconds. Users only need to review and save the extracted data. You can find final implementation look of Digitoo in Fakturoid here.

Results

Thanks to efficient communication between both parties and a clear API, the integration of Digitoo proceeded quickly and smoothly. Six months after implementation, Digitoo extracts over 5,000 expenses per month for Fakturoid clients, and the popularity of this paid functionality is growing. With Digitoo integration, data entry has now become more of a verification process, significantly reducing the demand for manual user work.

"As the number of extracted documents grows every month and we receive no complaints, we believe that our clients have firmly integrated the data extraction feature into their daily expense tracking process." ~ Jan Korbel, CEO Fakturoid

Next steps

Our common goal now is to minimize the need for manual review, through continual data gathering boost transcription accuracy, and automate the process as much as possible. Fakturoid also plans to utilize historical data for prediction and data prefilling based on their clients' past behavior.

Explore more details about possible ways of partnership with us.