Once a document is uploaded, it is scanned by OCR (optical character recognition) software that identifies and extracts text information from each page. This information is then read and interpreted by an industry-leading AI engine, which formats the invoice data into supplier information, invoice line items, VAT values, etc. The AI response is then processed internally by Motordesk to match or suggest contact information, identify vehicle data, and recalculate line and invoice totals.
As part of the development of this feature, we tested all of the leading AI and OCR models to identify the best option for processing real-life invoices and documents of various formats. This has enabled us to develop a tool that we believe will save hours of repetitive data entry.
Our new system allows you to upload an invoice (or a photo of one), add vehicle purchases to stock, and assign line items to the VAT margin scheme, all with a couple of clicks.
During testing, we have found that the new tool is over 90% accurate in identifying line items, vehicle data, and VAT amounts. It can read structured PDF invoices from main dealers, restaurant receipts, handwritten paperwork from smaller suppliers, and everything in between.
If the system can't match the document to an existing contact in Motordesk, it will assess any addresses found on the document and try to validate them, and suggest the most relevant options - some invoices will have branch addresses, head office addresses, and contact addresses. Each suggested address is checked against a global address database to give you the most accurate suggestions.
We always recommend checking the totals and line items against the original invoice before saving the purchase into Motordesk - in some circumstances, the AI is unable to fully extract the line data, and elements may be missing or not fully calculated. This normally occurs due to limitations in the original uploaded document. Any missing items can be added in as one-off items as required, and updating the VAT status of individual lines is simply a case of selecting the correct VAT rate from the drop-down box.