Otto

Accounting is an essential part of every business. We are happy to cooperate with Cognevo in employing Artificial Intelligence (AI) in automated accounting. Together, we optimize the accounting workflow, speed up the invoice processing and reduce related costs.

Learn more

Contribution

Otto aims to maximize the amount of automatically proccessed invoices entirely without human supervision. The system employs AI to recognize digital documents, extract individual invoice elements and automatically manage the bookkeeping. In full deployment, the system reduces approx. 50% of accounting-related costs.

By solving up to half of all invoices automatically, Otto significantly speeds up the entire accounting process, reduces costs and let your employees or customers focus on more important work.

Technology

Otto works in four simple steps. First, it use one of many integrations (e.g. Dropbox, e-mail, ...) to fetch the document. Second, deep learning is applied to simplify the document and extract relevant information. Then, the machine learning models automatically process the invoice into accounting. Finally, once the invoice is processed, it is stored in the system in which one can easily search.