How to extract data from invoices or receipts?
Tags: ai, api, ocr, dataextraction
Published: 2023-05-15 16:19:16

*Extracting data from invoices and receipts has become easier thanks to the advancements of Parsing technology.*

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## **What is Invoice and Receipt Parsing?**

[Invoice Parsing](https://www.edenai.co/feature/ocr-invoice-parsing-apis?referral=how-to-extract-data-from-invoice-receipt) and [Receipt Parsing](https://www.edenai.co/feature/ocr-receipt-parsing-apis?referral=how-to-extract-data-from-invoice-receipt) refer to the process of extracting structured data from unstructured sale documents. This process entails identifying key information such as merchant details, invoice numbers, dates and amounts from different formats of documents (PDF, PNG, and JPEG). The extracted data is then organized into a structured format that can be easily processed by accounting systems.

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![Receipt Parsing result on Eden AI](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/thmt7z1r0yp1tarxc2pu.jpg)


Invoice and receipt parsing is an important process for businesses as it helps to automate repetitive manual tasks such as data entry, reducing the risk of errors and increasing efficiency.

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## **How to extract data from invoices/receipts?**

One of the most significant advantages of using Eden AI is that it offers data extraction models tailored to specific types of documents, such as invoices, receipts, ID documents, and tables. These parsing models are specifically designed to accurately extract data from their respective document types.

Here's how to extract data from invoices and receipts using Eden AI:

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### **Step 1: Get your API key**

To perform OCR, you’ll only need to create an account on Eden AI for free. Then, you will be able to get your API key directly from the homepage.


![Image description](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/auyg87jqhe3miclitewa.png)

**[Get your API key for FREE](https://app.edenai.run/user/register?referral=how-to-extract-data-from-invoice-receipt)**

### **Step 2: Pick your Parsing technology**

Choose the Parser that is best suited for your image type. For instance, if you are uploading an invoice, choose the parsing model designed for invoices:


![Image description](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/95pfvu6tj1ptiveficbg.png)

### **Step 3: Live test the different providers available**

Test the different providers available on the Eden AI platform with your own receipts or invoices:

![https://uploads-ssl.webflow.com/61e7d259b7746e3f63f0b6be/645cf8d57d8eeac2293730a5_live_test_different_providers_available_on_eden_ai_receipt.webp](https://uploads-ssl.webflow.com/61e7d259b7746e3f63f0b6be/645cf8d57d8eeac2293730a5_live_test_different_providers_available_on_eden_ai_receipt.webp)

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### **Step 4: Start using Parsing API**

Use the Eden AI API by specifying the right provider in the parameters or use one of our ready-to-use plugins:

![https://uploads-ssl.webflow.com/61e7d259b7746e3f63f0b6be/645cf8ff2eac8d4b7ece77c8_start_using_ocr_api_receipt.webp](https://uploads-ssl.webflow.com/61e7d259b7746e3f63f0b6be/645cf8ff2eac8d4b7ece77c8_start_using_ocr_api_receipt.webp)

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### **Step 5: Set up your account for more API calls**

We offer $10 free credits to get started with our API. Purchase additional credits if needed:

![https://uploads-ssl.webflow.com/61e7d259b7746e3f63f0b6be/6454f62f4b305af3612f2b2c_billing_eden_ai%20(1).webp](https://uploads-ssl.webflow.com/61e7d259b7746e3f63f0b6be/6454f62f4b305af3612f2b2c_billing_eden_ai%20(1).webp)

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## **Benefits of using OCR on Eden AI**

Extracting data from an invoice or receipt using Parsing technology on Eden AI is a simple process that offers high accuracy and lower error rates.


![Image description](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/rnh5357xfzjdbtqhg9tm.gif)

### **Save time and cost**

We offer a unified API for all providers: simple and standard to use, with a quick switch between providers and access to the specific features of each provider.

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### **Easy to integrate**

The JSON output format is the same for all suppliers thanks to Eden AI's standardization work. The response elements are also standardized thanks to Eden AI's powerful matching algorithms.

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### **Customization**

With Eden AI you have the possibility to integrate a third-party platform: we can quickly develop connectors. To go further and customize your Parser request with specific parameters, check out our [documentation](https://docs.edenai.co/reference/ocr_invoice_parser_create?referral=how-to-extract-data-from-invoice-receipt).

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**[Create your Account on Eden AI](https://app.edenai.run/user/register?referral=how-to-extract-data-from-invoice-receipt)**