Business Challenges

AP departments operate under increasingly strict and fluctuating requirements

• Satisfying external customer demands
• Meeting increasingly stringent financial controls and internal margins
• SOX compliancy

With paper-based transactions, processes are long and time-consuming which can result in late or incorrect payments and missed discounts.

Manual data entry and lack of efficient validation cause delay and legal risk.

 AP Automation Challenges

There is no such thing as a typical invoice

Invoices vary in format between suppliers, usually with tabular data and sometimes over multiple pages

All invoices have common elements but there are too many different formats to template

• Can’t rely on a template based approach. It is ideal for high volume
• Knowledge of format and position relative to tags can be used to ‘find’ data
• Cross-checking gives further clues and/or a level of validation

What our Solution can do…

Streamline and automate invoice processing by Implementing an end-to-end accounts payable solution

Offers image archiving on key index fields, quickly and accurately populating document management system with data and images

Automates extracting header and footer data for indexing and business uses with advanced recognition technology

Automatically match PO’s with invoices, virtually eliminating tedious, labor-intensive, manual matching

 Benefits

Speeds up the accounts payable process, reduces costs and accelerates business processes by automatically extracting invoice data and routing it to the appropriate workflow for further action

Reduced Paper Handling

• No lost invoices
• Can be accessed by multiple users and locations simultaneously

Improved data accuracy while Fewer data entry mistakes are made

Managing invoices automatically will result in faster, safer, and more reliable financial information

Accessibility/Availability

• Access to documents is quicker
• Information sharing is enhanced
• Storage space for of physical documents is less