DataXtract

A cutting-edge platform specializing in the collection, analysis, and visualization of complex data sets to drive actionable insights.

Automate Invoice Capture

AI-powered solution streamlines and automates accounts payable operation by extracting invoice data and importing it into an ERP system

Logistics Document Extraction

Effective logistics data management is critical in navigating supply chain uncertainties and mitigating risks, especially in the wake of the COVID-19 pandemic. Accurate and timely data handling is essential for smooth inventory movement and business profitability.

CC Statement Analyzer

Automate the extraction and comparison of credit card statements for accurate expense tracking and allocation.

Challenges in Credit Card Statement Reconciliation

Labor-Intensive

Manual comparison and reconciliation are resource-intensive and slow.

Error-Prone

High risk of inaccuracies and financial discrepancies.

Complex Expense Classification

Difficulty in consistently categorizing business expenses.

Inefficient GL Allocation

Manual allocation of expenses to GL accounts is cumbersome.

Our AI-Enabled Solution

Xmplar’s CC Statement Analyzer automates the extraction of data from credit card statements and supplier invoices, compares them, and structures the data for seamless integration into accounting systems. This solution reduces manual effort, enhances accuracy, and improves financial efficiency.

1

Document Ingestion

2

Key Fields Extraction

3

Tabular Formating

4

Downstream Integration

5

Data Visualization & Analytics

Key Benefits

Automated Data Extraction

Efficiently extracts data from credit card statements and invoices.

Accurate Comparison

Uses AI to match transactions with corresponding invoices, ensuring accuracy.

Expense Classification

Automatically classifies business expenses into relevant categories.

GL Account Allocation

Allocates expenses to the appropriate GL accounts, streamlining accounting processes.

Reduced Manual Effort

Minimizes the need for manual reconciliation, saving time and resources.

Technical Highlights

Our Generative AI-powered OCR can accurately extract data from various credit card statement and invoice formats, including both printed and handwritten text.
Utilizes AI to compare and match credit card transactions with supplier invoices, ensuring precise reconciliation.
Leverages AI to classify expenses into business categories automatically.
Allows users to customize validation criteria, highlighting discrepancies for manual review.
Easily integrates with your accounting systems, ensuring smooth data transfer and processing.

How It Works

1

Document Ingestion

Upload credit card statements and supplier invoices via a user-friendly interface.

2

Data Extraction

Uses Gen AI-powered OCR and document parsing algorithms to extract key data fields from documents in a structured format.

3

Automated Comparison

Matches transactions with invoices and highlights discrepancies.

4

Expense Classification

Classifies expenses and allocates them to the correct GL accounts.

5

ERP Integration

Seamlessly integrates structured data into accounting systems.

6

Analytics and Reporting

Provides tools for analyzing financial data and generating comprehensive reports.

Conclusion

Xmplar’s CC Statement Analyzer automates the reconciliation of credit card statements with supplier invoices for enhanced accuracy and efficiency.

Financial Accuracy

Ensures precise expense tracking and GL account allocation.

Improved Efficiency

Reduces manual effort and streamlines accounting operations.

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