Automated Invoice Processing
19/04/2011
Automated invoicing solutions enable companies to reduce the cost of handling invoices and make the accounts payable process more efficient and fast.
Automated invoice systems can typically handle a wide variety of information such as credit notes and supplier invoices. Information is quickly scanned and captured and processed by the software.
Several invoices can often be scanned at the same time and matched with the original purchase order, achieved through data matching software.
Once invoices are scanned into the database, then the information can be passed on to internal staff or remote staff via email.
The accounts payable information can then be accessed by the recipient, approved, paid and archived or filed away securely for future reference.
Automated invoicing solutions require minimal user intervention or data entry. Therefore these systems reduce accounts admin costs.
Invoice systems also free up accountancy staff to concentrate on other priorities, such as complying with time critical payment slots that could attract supplier discounts.
Data Capture Solutions (DCS) supply a sophisticated, tailor made, automated accounts payable solution. The solution comprises software from Tokairo and SWT. Kofax Capture can also be used for e-invoicing.
Invoices can be scanned and reconciled with purchase orders using the OCR and data matching techniques. Information can then be archived within the Filestore EDM document database.
Contact Data Capture Solutions today to find out more about their automated invoice processing systems.
