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PDF invoice data extraction made simple with Parsel

Simply drag and drop your PDF invoices into Parsel and let our technology analyse, identify and extract your invoice data into the filetype of your choice in minutes.

Though we've blogged previously about Parsel's best-in-class ability to extract and convert PDF data to Excel, we haven't discussed the specific use cases that our extraction technology can be applied to. Over recent months, one of the most common real-world use cases for Parsel among our clients has been PDF invoice data extraction.

Data extraction and invoices

Data extraction is an integral part of invoice processing. It occurs after payment has been received and when information needs to recorded and archived for future audits. Today, most invoices are auto-generated into PDF format.

In the past, companies would enter invoice information into their business systems manually. Needless to say, that manual process was extremely time-consuming and very prone to human error - just think of the amount of typos that would creep into manually entered data from dozens of invoices every day!

Fortunately, extraction tools now exist which perform this task in a fraction of the time with greater accuracy - and that's where Parsel comes in.

That's where Parsel comes in

In truth, we didn't build Parsel with that particular use case in mind - the financial heritage of our parent company, Tellimer, meant we were focused on providing an easier way for financial analysts to analyse large and complex data sets for investment research purposes. But, with our unrivalled accuracy for numerical tables - we're benchmarked at 95.6% accuracy, better than any other tool on the market right now - invoice data extraction is a natural fit for Parsel.

In this blog post, we'll show you step-by-step how Parsel can enhance your PDF invoice data extraction process, and save your business hours of time and effort.

Step-by-step guide to PDF invoice data extraction with Parsel

1. Sign up for Parsel

Head to Parsel.ai and sign up for a free Parsel account. Make sure you click the activation link sent to your email to access your account.

Parsel sign up

2. Create a new dataset

Once you've activated your account, click Create a new data set and give it a name that’s easy to remember.

Parsel create dataset GIF

3. Drag and drop your PDF Invoice

Just drag and drop your document into our uploader and our AI will begin analysing and extracting your invoice data - with no manual guidance - ready for download.

Parsel drag invoice GIF

4. Download your extracted invoice data

Once Parsel has analysed and extracted your invoice data, you can download it in Excel .csv format (for additional output types, you'll need to upgrade to either a Starter or Pro subscription).

Parsel download output

It's as simple as that.

Unlike other apps, we've taken the hassle out of data extraction. We don't ask you to select a page range or target areas in your PDF - Parsel does all that for you. Our tech analyses, identifies and extracts your data on its own; it's simple, fast and efficient.

And with superior accuracy born from rigorous extraction of complex financial datasets, there's far fewer issues recognising non-alphanumeric characters - meaning less time for you spent making manual corrections.

To start extracting your PDF invoice data today, sign up for a free Parsel account.