In facing today’s fast pace, manually processing invoices is already outdated and could limit business scalability in adapting to the growing demand. The finance team of a business have to improve the efficiency of their regular invoice processing, and using invoice automation software can be a helping hand. What used to be slow and effort-heavy can now be automated with AI. Invoice automation software leverages AI to automatically collect invoice data and process them faster with high accuracy level.
In Singapore, invoice automation software is driving digital transformation in finance. While many options are available, we have selected the 5 best platforms for Singaporean businesses to automate their invoice processing.
Fintelite
Fintelite‘s AI-powered document solution for invoices offers end-to-end automation to help businesses extract, validate, and input invoices data into Excel, ERP, or other processing systems. Looking for tailored invoices processing? With Fintelite, you can easily customize the OCR module to extract full datasets or just a few important details, fast setup, no single code needed. Unlike basic automation tools, Fintelite also protects businesses with additional fraud checks to detect potential data tampering in invoices and its related documents. For data security, Fintelite ensures enterprise-grade protection that complies with international ISO 27001 standard.
Klippa
Klippa is best known for automating financial documents like invoice processing. It transforms paper invoices or PDF files into digital datasets that are fully processable and ready for use. By automating extraction of invoice data such as vendor details, line items, prices, and totals, Klippa makes invoice processing faster and highly efficient. Businesses are using Klippa to streamline workflows and reduce manual effort
Veryfi
Veryfi is a powerful solution specializing in data capture automation, using intelligent OCR to instantly convert invoices into approval-ready data. Its technology supports multiple languages and delivers 100% automation without human-in-the-loop for faster and effortless results. Veryfi reduces the finance team’s manual workload by automatically recognizing and extracting all information typically required from invoices.
Xtracta
Xtracta is another option for automating invoice parsing to streamline data entry. Built for software companies, it enables instant data capture that enhances product features and improves customer experience. Additionally, its intelligent OCR extracts invoice data with high accuracy. Moreover, it offers seamless integration with popular platforms like Microsoft, Oracle, Xero, and many others, making it easy to embed powerful automation into existing systems.
AWS Textract
Fully managed on Amazon Web Services, AWS Textract is a machine learning service that automates data extraction from invoices and other financial documents. Its OCR efficiently reads data in table-based documents like invoices, turning unstructured data into structured. It scales securely for global use and integrates seamlessly with other AWS products, streamlining invoice processing workflows.
Why Choose Fintelite?
Since 2023, Fintelite has been a trusted partner for Singaporean businesses, delivering reliable and efficient automation solutions. From intelligent data extraction to seamless invoice matching, Fintelite provides tailored solutions to meet unique needs and conditions of each business. As a result, organizations can simplify complex processes, save valuable time, and focus more strategic priorities.
