Data Capture Software For Invoices
This article will discuss the benefits of data capture software for invoices
. Your paper invoices are not going away any time soon. And the costs of processing them continue to rise - 37% in the past 4 years. Data capture software for invoices integrates with any document scanner to capture all the important information from the invoice digital image. This data capture software uses best-of-breed OCR and ICR recognition for highly accurate capture of all key invoice data including: vendor ID, PO #, invoice date, line item and total amounts. This information can be automatically validated, then delivered directly into your accounts payable, ERP, document management, or other back-end system.
Streamline Invoice Processing
This data capture software includes Dynamic Natural Analysis (DNA) specifically developed to help you simplify invoice capture. DNA eliminates invoice set-up and enables single-pass verification for both your known and unknown invoice layouts. This speeds your implementation and reduces ongoing maintenance. All detail line items for a new invoice layout can be captured and their location stored after the user has identified the first line item, further streamlining the set-up process.
Typical Account Payable Workflow
Data capture software manages invoice batches through a series of processing steps called a workflow. Some steps require user input, some are unattended, and all of them contribute to the delivery of accurate payables information by data capture software for invoices.
Scan
This software supports all leading production scanners, including Bowe Bell + Howell, Canon, Fujitsu, as well as Kodak, Panasonic, Visioneer, Xerox.
Image Enhancement
After scanning, invoices undergo automated image clean-up: line removal, de-speckling, "noise" reduction, de-skewing, and automated page flipping when necessary, all contribute to higher quality images for recognition.
Vendor Identification
Data capture software's fingerprint technology analyzes the invoice image based on the page geometry and then automatically identifies the vendor.
Recognition
Once the vendor's fingerprint has been found, data capture software applies zone and location rules to first find the data on the invoice, then capture and extract all your required data fields, such as invoice date, invoice number, purchase order number, and invoice total. This data capture software is not limited to "header" fields and can also pick up line item details as well.
Validation - Verification
A customizable interface displays invoice image and recognition results side by side, highlighting fields and characters that need review. Math calculations on line items verify subtotal amounts by comparing quantities and unit prices. User-configurable rules automate validations according to an organization's business rules, assuring, for example, that totals match the amount authorized for every purchase order, or that the invoice date doesn't exceed specified parameters. Verifiers have easy to use features to correct recognition, including Click' N Key and Dynamic Details to enhance productivity. Intellocate automatically updates the fingerpoint library with updates to new and existing fingerprints.
Data and Image Delivery
Data capture software supports a wide variety of imaging and accounting systems to enable multiple concurrent exports of invoice data and images. Export invoice data and images at any step in the capture process into any combination of ERP, database, storage, or enterprise-specific systems.
by: Ron Thompson, Jr.
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