Invoice processing automation

There is invoice processing automation software and service companies that will handle all your purchase invoices, from receipt to payment. Using automated recognition, combined with sophisticated web-based invoice approval workflow, invoice processing service companies such as DCS can handle high volumes of data processing and invoice processing workflow.

If you prefer to keep the work within your organisation, there are a number of solutions that can be tailor-made for the automated handling of supplier invoices and credit notes. Software such as Tokairo and SWT allow invoice processing to be speeded up by approx 50%.

Invoice processing automation will:

• Reduce time wasted on data errors
• Reduce time required to generate invoices
• Increase the productivity of your staff
• Prevent late payments and exploit discounts
• Avoid duplicate payments

Invoice processing automation allows a wide variety of typical invoices to be scanned at the same time and for them to be automatically reconciled against the original purchase order with minimal user intervention or data entry. The system achieves this by sophisticated OCR and data matching techniques within the software. You can store and retrieve all your invoices as electronic images and eliminate the need for rows of filing cabinets. Any invoice you want can quickly be accessed on your desktop PC.

Once the data for the invoice has been extracted it can be validated then archived in the document database.

Internal or remote staff can access the documents in a pre defined workflow process to approve, pay and file the documents. This can be accessed from within your ERP system.

The benefits of the software go well beyond the accounting department. Every division in your company can access the system and upload employment applications, time sheets, purchase orders and receipts for petty cash.