Intelligent payment processing platform system and method
A system and method of automating payment processing is disclosed. Payment documents can be processed using an array of tools including artificial intelligence integrated with the end-user's own ERP architecture. The proposed implementations maintain a logical segregation of the documents, which may include the processing of receipts, validation of documents against ERP information, tax analysis, posting of documents, as well as real-time monitoring and support of settlement and accounts payable operations. Embodiments of this approach utilize enhanced optical character recognition (OCR) techniques in conjunction with robotic process automation (RPA) and Machine Learning to produce a platform capable of enabling these processes to run end-to-end with little to no human intervention or error.
1. A method of automating processing of payment documents, the method comprising:
receiving, from a first supplier, a first document for a first transaction;
automatically extracting a first data set from the first document, the first data set including at least a first data value held by a first data field;
automatically assessing, via a machine learning robotic process automation (RPA) bot, a validity of the first data value by reference to a synonym database including a first record, the first record including a second data field and one or more data values that are approved for entry under the second data field, the one or more data values including a second data value;
automatically determining that the first data value is valid for the first data field by confirming that the first data value matches the second data value in the first record; and
storing the validated first data value as part of a supplier record for the first supplier.
2. The method of claim 1 , further comprising transmitting the validated first data value to an external enterprise resource planning (ERP) system associated with the first supplier.
3. The method of claim 1 , wherein the first document further includes a plurality of data sets, and the method further comprises mapping each data value of each of the data sets to a corresponding data field detected in the received first document and storing the mapped data.
4. The method of claim 3 , further comprising:
validating each of the mapped data values; and
automatically transmitting the mapped data values to an external municipal computing system.
5. The method of claim 1 , further comprising displaying, via a visualization dashboard, information including the validated first data value.
6. The method of claim 1 , further comprising:
automatically extracting a second data set from the first document, the second data set including the second data value held by the second data field;
automatically assessing, via a machine learning RPA bot, a validity of the second data value by reference to the synonym database;
automatically determining that the second data value is an invalid entry for the second data field; and
automatically generating, for review by an operator, a message indicating the second data value is invalid.
7. The method of claim 6 , further comprising:
receiving, from the operator, an input validating the second data value for the second data field;
automatically updating, at a first time, the synonym database to include the second data value as an approved entry for the second data field.
8. The method of claim 7 , further comprising:
receiving, from a second supplier, a second document;
automatically extracting a third data set from the second document, the third data set including a third data value held by a third data field, wherein the third data value is the same as the second data value and the third data field is the same as the second data field;
automatically assessing, via a machine learning RPA bot, a validity of the third data value by reference to the synonym database, at a second time after the first time; and
automatically determining that the third data value is a valid entry for the third data field based on the inclusion of the second data value in the synonym database.
9. The method of claim 1 , wherein the first data field is one of an invoice number, invoice issue date, identification number, corporate name, address, country, state, order number, item number, total invoice amount, tax amount, and tax rate.
10. The method of claim 1 , further comprising automatically determining that the first document is of a first document type based on the first data set, and wherein the first data value is valid for the first data field only for the first document type.
11. A system of automating processing of payment documents, the system comprising:
a processor;
machine-readable media including instructions which, when executed by the processor, cause the processor to:
receive, from a first supplier, a first document for a first transaction;
automatically extract a first data set from the first document, the first data set including at least a first data value held by a first data field;
automatically assess, via a machine learning robotic process automation (RPA) bot, a validity of the first data value by reference to a synonym database including a first record, the first record including a second data field and one or more data values that are approved for entry under the second data field, the one or more data values including a second data value;
automatically determine that the first data value is valid for the first data field by confirming that the first data value matches the second data value in the first record; and
store the validated first data value as part of a supplier record for the first supplier.
12. The system of claim 11 , wherein the instructions further cause the processor to transmit the validated first data value to an external enterprise resource planning (ERP) system associated with the first supplier.
13. The system of claim 11 , wherein the first document further includes a plurality of data sets, and the instructions further cause the processor to map each data value of each of the data sets to a corresponding data field detected in the received first document and storing the mapped data.
14. The system of claim 13 , wherein the instructions further cause the processor to:
validate each of the mapped data values; and
automatically transmit the mapped data values to an external municipal computing system.
15. The system of claim 11 , wherein the instructions further cause the processor to display, via a visualization dashboard, information including the validated first data value.
16. The system of claim 11 , wherein the instructions further cause the processor to:
automatically extract a second data set from the first document, the second data set including the second data value held by the second data field;
automatically assess, via a machine learning RPA bot, a validity of the second data value by reference to the synonym database;
automatically determine that the second data value is an invalid entry for the second data field; and
automatically generate, for review by an operator, a message indicating the second data value is invalid.
17. The system of claim 16 , wherein the instructions further cause the processor to:
receive, from the operator, an input validating the second data value for the second data field;
automatically update, at a first time, the synonym database to include the second data value as an approved entry for the second data field.
18. The system of claim 17 , wherein the instructions further cause the processor to:
receive, from a second supplier, a second document;
automatically extract a third data set from the second document, the third data set including a third data value held by a third data field, wherein the third data value is the same as the second data value and the third data field is the same as the second data field;
automatically assess, via a machine learning RPA bot, a validity of the third data value by reference to the synonym database, at a second time after the first time; and
automatically determine that the third data value is a valid entry for the third data field based on the inclusion of the second data value in the synonym database.
19. The system of claim 11 , wherein the instructions further cause the processor to process the first document before extraction of the first data set by detecting a first language utilized in the first document and translating, by a first machine learning model, the first language to a second language.
20. A system comprising one or more computers and one or more storage devices storing instructions that are operable, when executed by the one or more computers, to cause the one or more computers to:
receive, from a first supplier, a first document for a first transaction;
automatically extract a first data set from the first document, the first data set including at least a first data value held by a first data field;
automatically assess, via a machine learning robotic process automation (RPA) bot, a validity of the first data value by reference to a synonym database including a first record, the first record including a second data field and one or more data values that are approved for entry under the second data field, the one or more data values including a second data value;
automatically determine that the first data value is valid for the first data field by confirming that the first data value matches the second data value in the first record; and
store the validated first data value as part of a supplier record for the first supplier.