Invoice Scanning and AP Automation

 

 

 

AP Automation and Invoice Processing

Invoice scanning software provides a way to scan in paper invoices, extract both the invoice header information as well as the line item data.  The extracted data can then be passed to an ERP or Accounting System for processing and AP Automation Workflow.  Advanced document capture software platforms can also process digital invoices in the form of PDF, TIFF ow Word documents.  This is referred to as multi-channel invoice capture.  There are key benefits to an invoice scanning solution:

  • Automated data entry
  • Automated data extraction
  • Reduced processing time
  • Reduced errors and validation
  • Line item matching from ERP
  • Reduced payment time
  • Reduction in late fees

An example of this type of software is Ephesoft Transact for Invoices and AP.  These technologies use OCR to extract information and improve efficiency.

Invoice Scanning and OCR Screen Shots

Below are some screen shots of Accounts Payable Invoice processing applications that extract OCR data:

Validation of Invoice OCR data
Invoice Data for Extraction and Validation Post-OCR