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Industry first alert – Way2VAT gets patent for automated invoice analysis

By Marisa Garcia

Way2VAT has earned a patent from the U.S. Patent Office for a new Artificial Intelligence (AI) powered technology which, it says, will simplify VAT claims and travel expense management.

The patent covers computer vision and language processing which power the company’s automated invoice analysis. It also covers a method for collection of invoices from various sources including mobile phones and scan batches, and the way in which those invoices produce VAT reclaim reports.

The company says “it is the only VAT vendor in the market to be granted a patent for an automated invoice …read more

From:: Tnooz

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