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Kanverse Iolite Release Brings New Cutting-edge Features to Its Existing AP Invoice Automation and Insurance Document Processing Products

Kanverse.ai, a Hyperautomation company, has announced the global launch of the Iolite release of its patent-pending AI-powered Intelligent Document Processing Product for Enterprise.

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Iolite release introduces powerful new features to Kanverse AP invoice automation product for enterprises.

  • AP teams can now extract invoice data from Microsoft Excel documents with the same 99.5% extraction accuracy.
  • AP teams can now automate the processing of invoices arriving as Excel Documents, having complex tables with multiple invoice line items end to end.
  • AP administrators can now create multi-layer approval workflows including delegation. Complex business rules can be configured for directing the approval flows for invoices based on the organization hierarchy.
  • Iolite release opens a whole new possibility for AP teams of all companies. Users can sign up for free trial with no prior commitments and no credit card requirements and upload invoices into the Kanverse portal and witness Kanverse achieve 99.5% data extraction accuracy live.
  • A new how-to section provides training videos to guide new users while using the platform for the first time. It also helps users understand the new product features and its navigation.

Iolite release also brings a new out-of-box COINS ERP (Enterprise Resource Planning) integration for construction management and real-estate companies.

  • Construction management and real-estate companies will witness faster time to go live, save costs, and experience touchless invoice processing – Without the hassle of modifying the company’s IT (Information Technology) environment.
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Kanverse iolite release enhances the insurance document processing product with innovative features.

  • Multi-channel Ingestion of documents through email Inbox, portals, shared drives, and folders.
  • Package view that enables grouping of insurance documents for submission intake or claims to using AI irrespective of when they arrive. These documents can arrive days apart and Kanverse using AI groups them together in a package before they are validated and submitted.
  • Business Rules can be created that cross-reference values from different forms in the package. This ensures that the package is complete and validated before publishing it to the underwriters. Incomplete and/or invalid packages can be rejected right away.

Kanverse IDP combines multiple AI (Artificial Intelligence) technologies with Optical Character Recognition (OCR) and Automation to provide an end-to-end product that digitizes document processing for enterprises from ingestion, classification, extraction, validation, approvals to filing. The entire process is powered by Computer vision, Natural Language Processing (NLP), Fuzzy Logic, and advanced Machine Learning (ML) algorithms to make business processes more efficient, optimize cost, eliminate human error, and mitigate risk.

Karan Yaramada, CEO (Chief Executive Officer) of Kanverse.ai said, “With the Iolite release, we are bringing new innovative features to our existing offerings. The new out-of-the-box integration with COINS ERP will open doors for new customers to experience the power of Kanverse. As a result, Kanverse AP invoice automation and the insurance document processing products are uniquely positioned to deliver unprecedented business benefits to all our customers.”

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