Based in London, England, SaltPay is a payment services and software provider for local European businesses. Founded in 2019, the company provides payment acceptance, electronic point of sale, stock management, customer loyalty, and appointment setting tools for small and mid-size businesses. These solutions empower small and mid-size businesses to manage and scale their operations. SaltPay is a rapidly growing company which works with over 100,000 vendors across Europe.
The Nanonets team was quite forthcoming in working hard to solve issues and get our platform working quickly.
SaltPay was transitioning to SAP’s enterprise resource planning (ERP) system to serve their growing client base under one platform. Their document processing provider did not support SAP’s system, prompting SaltPay to search for an alternate service provider to offer document processing integration. Managing potentially 1000s of invoices manually was not an option.. Their team needed a reliable platform powered by artificial intelligence that could extract specific fields from the invoices and consistently learn with new documents.
SaltPay had 2 criteria for their document processing provider:
- AI-based platform that learns with new documents (template agnostic)
- SAP integration
SaltPay was transitioning to SAP’s enterprise resource planning (ERP) system to serve their growing client base under one platform and managing potentially 1000s of invoices manually was not an option
Nanonets provided an AI tool to capture information from invoices and upload that information directly into SAP. SaltPay trained the AI to extract specific information from each invoice, and manually approved that the correct information was extracted. At this time, the AI correctly populates 75% of the fields they need to input into SAP, but the SaltPay team is currently working on increasing accuracy by continuing to train Nanonets platform with new invoices.
Once Saltpay sends an invoice to Nanonets, Nanonets automatically validated certain number of conditions based on the business logic provided by Saltpay. Thereafter, a SaltPay team member manually approves the data extraction in Nanonets, which uploads the data directly into SAP. The reviewer then manually approves the fields in SAP. This two-pronged approach gives SaltPay confidence that their system correctly stores the information.