Invoice data Extraction Using LLM and OCR

Abstract: Invoice processing is a crucial but time-consuming task for businesses, especially when done manually. It often leads to errors and inefficiencies, particularly for companies dealing with large volumes of documents. To solve this, automated data extraction systems use Optical Character Recognition (OCR) and Large Language Models (LLM) APIs. OCR converts scanned invoices into readable text, extracting details like invoice numbers, dates, and amounts. LLMs improve accuracy by understanding the context, handling uncertainties, and automating decisions. Together, OCR and LLMs streamline invoice workflows, cut costs, and speed up processing, making them valuable for financial operations across industries.