Esker Obtains U.S. Patent for Predictive Coding AI

Lyon, November 28, 2022 — Thanks, global cloud platform which promotes the finance and customer service professions by automating management cycles, announces that it has obtained patent no. 11494551 awarded by the US Patent Office (US Patent and Trademark Office) for its predictive document coding technology.

Covering the entire Order-to-Cash (O2C) and Procure-to-Pay (P2P) management cycles, Esker Synergy AI is integrated into Esker solutions to eliminate repetitive and low value-added tasks. Manual data entry of invoices or other management documents is a tedious process that is the source of many accounting errors. The Predictive Coding feature provides a solution to this problem, relying on artificial intelligence to establish correspondences with data from existing documents to propose values ​​or codes that are not on the original document.

Investing for over 10 years in AI to automate business processes, Esker has embarked on extensive research into deep and convolutional neural networks. For example, the newly patented Predictive Coding feature can anticipate general ledger accounts, cost centers and tax codes/tax rates when posting supplier invoices. The “brain” of Esker’s solutions matches the content of invoices with data from similar documents that already exist to recommend probable values ​​(tax code, cost center, etc.) for fields that are not on the original document. The suggested values ​​can then be approved or rejected. From day one, Esker Synergy AI enables customers to enjoy very high referral rates.

The company’s investments in AI to develop new capabilities (automatic code processing, email sorting, improved document recognition, anomaly and fraud detection) have enabled solutions to streamline business processes. while offering more autonomy to employees.

“It is often difficult to obtain patents based solely on AI and in particular Deep Learning with the usual evaluation rules of the United States Patent Office. », says Jean-Jacques Bérard, vice-president of research and development at Esker. “However, Esker, by integrating its AI algorithms into business solutions aimed at simplifying business processes, is able to obtain patents in a relatively short time. »

“Esker Synergy AI combines the best of human intelligence and artificial intelligence, which perfectly reflects our approach to product development: technology is not intended to replace, but to enrich the work carried out by humans and thus make the processes more efficient and stimulating”, says Jean-Michel Bérard, CEO of Esker. “The entire business ecosystem is reaping the rewards of this symbiosis (customers; suppliers, employees and even the planet), which is what we call positive-sum growth. »

AboutThanks
World leader in solutions for automating Procure-to-Pay and Order-to-Cash management cycles, Esker enhances the financial and customer service departments of companies and strengthens inter-company cooperation.
The Esker cloud platform makes it possible to animate a virtuous ecosystem with its customers and suppliers. Integrating Artificial Intelligence (AI) technologies, Esker’s solutions help to increase productivity and improve visibility on its activity, while strengthening collaboration with its customers, suppliers and employees.
A French ETI headquartered in Lyon, Esker is present in Europe, North America, Asia/Pacific and South America. Listed on Euronext GrowthTM in Paris (ISIN code FR0000035818), the company generated 133.6 million euros in revenue in 2021, two-thirds of which was international.

  • Esker_Release_IA_US-For Diff_281122

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *