Workist

Automated document processing with AI

Document Processing Automation Order Processing ERP System Integration Data Verification Data Transfer

Tool Information

Primary Task	Invoice processing
Category	business-and-finance
Sub Categories	ocr-and-document-processing workflow-automation data-integration
Country	Germany

Workist is an AI-based tool designed to automate document processing. It caters to a range of business needs, including incoming orders, order confirmations, and invoices. Workist leverages AI to capture, verify, and transfer relevant data from these documents, aiming to increase efficiency and reduce human error in the process. Customizable to each business's IT infrastructure, Workist offers a seamless transition from document receipt in the inbox to transfer to the ERP system. The solution also prides itself on easy and quick integration into existing processes, allowing businesses to see a return on investment from day one. Notably, Workist also offers features like master data matching, which helps to detect and correct invalid orders, reducing the incidence of transmission errors and increasing overall order processing efficiency. With its focus on reducing manual work, Workist aims to alleviate administrative burdens, giving teams more time for customer service and other critical operations. The tool is lauded for its proven track record in the automation field, having processed over 2 million documents successfully.

Workist is a Berlin-based deep-tech startup founded in 2019, previously known as outsmart.ai. The company specializes in AI-powered automation for B2B transactions, focusing on eliminating manual document processing. By leveraging advanced artificial intelligence, Workist streamlines workflows and enhances efficiency in sectors such as wholesale and manufacturing. The company fosters a strong corporate culture centered on innovation and competitive excellence.

Workist's flagship product, WorKI, is an intelligent document processing platform that manages unstructured data from various sources, including emails, PDFs, and Excel spreadsheets. Key features include automated data capture for purchase orders and invoices, seamless ERP/CRM integration, and a dedicated solution for sales teams to reduce manual entry. The platform utilizes deep-learning technology to handle high volumes of transactional documents, catering to organizations with complex B2B communication needs.

In November 2023, Workist was recognized as “Startup of the Week” by Wirtschaftswoche and secured €9M in Series A funding to accelerate product development and market reach.

Pros
Automates purchase order processing Translates B2B transactions Seamless integration with businesses Unparalleled document understanding High automation rates Reduces costs and time Connects to all common ERP systems Flexible and easy to use Rapid integration Supports various document formats Validates information with master data Transfers data to any ERP or CRM system Master data matching for error detection Reduces transmission errors Alleviates administrative burdens Experience of processing millions of documents Customizable to IT infrastructure Increases order processing efficiency Effective incoming order processing Automated document capture and transfer Invoice processing automation Reduces typo occurrences Positive return on investment from day one

Cons
No multi-language support mentioned Unclear data security measures Customization level unknown Doesn't support handwritten documents Limited to specific document types No mobile application No offline capabilities Not suitable for individual users Possible integration challenges Adapting EDI technology limitations

Frequently Asked Questions

1. What kind of documents can Workist process?

Workist can process a variety of documents including incoming orders, order confirmations, and invoices.

2. How does Workist translate B2B transactions?

Workist makes use of artificial intelligence and machine learning models to understand the content and context of B2B transactions, enabling seamless integration and automated information exchange between businesses.

3. What types of systems can Workist integrate with?

Workist can be integrated with all common ERP systems thanks to its state-of-the-art EDI technology. Additionally, data output from Workist can be transferred to any ERP or CRM system through standard connections like EDI or API.

4. How does Workist validate the information from extracted documents?

Workist verifies the information extracted from documents by matching it against master data. This is to ensure accurate extraction and prevent any discrepancies in the processed data.

5. How precise is Workist's data extraction?

Workist boasts a high degree of precision with its data extraction due to its advanced AI and machine learning models. It has processed over 2 million documents successfully, underscoring the reliability and accuracy of its data extraction.

6. What is the turnaround time for Workist's document processing?

Workist processes documents in record time. While the exact time may vary based on the complexity and volume of the documents, Workist's advanced capabilities and automation allow for quick, efficient document processing.

7. How does Workist reduce error rates in document processing?

Workist reduces error rates in document processing by using features like master data matching, which helps to detect and correct invalid orders. Moreover, the AI-powered tool eliminates the risk of human errors associated with manual processing.

8. How easy is it to integrate Workist into my existing processes?

Integrating Workist into existing processes is described as lightning-fast, implying a simple and quick integration process that requires minimal changes to existing workflows.

9. Can I customize how Workist works with my existing IT infrastructure?

Yes, Workist is customizable to each business's IT infrastructure, offering a seamless transition from document receipt in the inbox to transfer to the ERP system.

10. How does Workist's master data matching feature work?

Workist's master data matching feature works by comparing the information extracted from a document against existing master data. If the system detects a discrepancy or invalid information, it corrects the error, thereby minimizing the possibility of transmission errors.

11. How does Workist contribute to cost savings in a business?

Workist contributes to cost savings by automating the document processing function, which reduces the time and resources required for manual data entry. Additionally, the improved accuracy and error detection capabilities of Workist reduce the costs associated with rectifying errors.

12. How does Workist improve order entry quality?

Workist improves order entry quality by automating and streamlining the process, thereby reducing the possibility of human errors. It also matches extracted data with master data to ensure accurate order entry.

13. What is Workist's rate of automation in order processing?

Workist features a high degree of automation which significantly improves the order entry process. While the exact rate may vary, the automation capability of Workist is evident from its proven ability to process over 2 million documents successfully.

14. Can Workist process PDFs, excel files, and plain-text emails?

Yes, Workist can process a range of document formats, including PDFs, excel files, and plain-text emails.

15. How do I transfer Workist's data output to my ERP or CRM system?

The data output from Workist can be transferred to any ERP or CRM system through standard connections like EDI or API. This allows flexibility and seamless integration to support various business requirements.

16. Is Workist an end-to-end document processing solution?

Yes, Workist is an end-to-end document processing solution. It handles the entire process - from document receipt and data capture to validation, processing, and transfer to the ERP system.

17. Can Workist help in reducing administrative burdens?

Workist significantly reduces administrative burdens by automating the process of incoming purchase orders and other document processing. This frees up time and resources that can be allocated to customer service and other critical operations.

18. What industries can benefit from using Workist?

Workist is beneficial for a wide range of industries including wholesale and manufacturing, with the potential to be useful to any industry that requires efficient and accurate document processing.

19. How does Workist correct invalid orders?

Workist corrects invalid orders using its master data matching feature. If an order does not match the existing master data, Workist detects and corrects the discrepancies to ensure accurate order processing.

20. How quickly can businesses start seeing a return on investment from Workist?

Workist brings about a positive Return on Investment from day one due to its lightning-fast integration and high degree of automation, which leads to significant time and cost savings. The exact time until ROI would vary depending on the company's size, complexity of document processes, and the volume of documents.