Retarus has formed an integration partnership with veenion GmbH. The aim of the collaboration is to increase efficiency and automate the handling of inbound documents in procurement processes.
Integrating Retarus Intelligent Document Processing (IDP) into Veenion’s modular e-procurement platform enables the automated capturing, reading and structuring of documents and the data they contain before feeding the data into Veenion’s software.
For more than 25 years, Veenion has been providing e-procurement solutions which allow companies to optimize their procurement processes, reduce costs and reliably fulfill compliance requirements. The modular software is especially utilized in connection with public sector customers and enterprises in the retail and manufacturing sectors. The partnership with Retarus now extends Veenion’s portfolio of services to include a solution for automating the handling of inbound documents.
Retarus Intelligent Document Processing automatically recognizes and classifies incoming documents, e.g. invoices, extracts the pertinent data with great precision and makes it available in a structured format for processing downstream in the Veenion platform. The tech underlying the service is the French “Mistral Small” AI model, which has 24 billion parameters and fulfills the very highest European sovereignty standards.
For further details please refer to our latest press release.
