Automating Invoice Processing
Tuesday, January 26, 2010 at 6:12PM Accounts payable personnel at any organization know the pains associated with invoice processing. Because AP departments typically rely on paper-based transactions, they also experience long, time-consuming processes that often lead to late or incorrect payments and missed discounts. And in situations where manual data entry is required, delays aren't the only consideration; legal risks resulting from human error can also be significant.
EMC delivers a fully customizable invoice capture solution that can scan vendor invoices and automatically extracts and validates the data they contain before exporting it to accounting systems for processing. Using intelligent document recognition technology (IDR), it can identify incoming documents as invoices and immediately begins extracting information such as purchase order number, invoice date, total amounts, line item data and more. Vendor ID is automatically determined and critical information is validated against existing data in accounting systems before being exported directly into Enterprise Content Management (ECM), Enterprise Resource Planning (ERP), Accounts Payable (AP) and other back-end systems.
The result is a faster, more efficient means of handling invoices.
* REDUCE MANUAL PROCESSES - Reduce the manual effort needed to process vendor invoices InputAccel for Invoices enables businesses to accomplish more work with fewer people and less money.
* INCREASE VENDOR DISCOUNTS AND REDUCE LATE FEES - Take advantage of early-pay discounts and avoid late fees by processing invoices faster. InputAccel for Invoices also helps businesses achieve SOX compliance when taking vendor discounts.
* INCREASE ACCURACY AND EFFICIENCY - Advanced indexing capabilities reduce retrieval times from days to seconds with 99.9% accuracy.
To learn how you can streamline and accelerate invoice processing in your business, click here<http://www.paperfreecorporation.com/accountspayable.html> or dial 1-888-726-7730 to speak with a PaperFree consultant today.
