Accounts Payable Brochure
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Processing invoices can be time consuming but with our
Optimised Workflow Soware you’ll have more time to focus
on core activities.
Store and retrieve
Once captured, your invoices are indexed with the key data
extracted by OCR and then stored securely in a Document
Management System alongside other relevant documentation,
such as purchase orders and delivery notes.
Storing the invoices securely in a central repository means
they can be quickly and easily retrieved to help you deal with
queries as they arise. You can search for specific information by
keyword, which is much faster than searching for paper invoices
in filing cabinets.
Business rules
Business rules for invoice approval can be defined and applied
uniformly, with associated workflows and triggers. For example,
if the nominated invoice approver is not available, the system
will not allow an invoice to go ignored. Instead an alternative
approver will receive an automated alert notifying them of the
need to check the status of the particular invoice.
Optical Character Recognition (OCR) is used to extract key
information such as supplier name, invoice total, and VAT
amount from your stored invoices. Thanks to smart tagging
and machine learning, OCR templates are easy to setup and
accuracy is improved over time.
Processing invoices manually costs between
£2 and £4 per invoice and reduces employees
productivity by 50%.*
Getting invoices into the system is quick and easy. There’s no
need for any manual data entry, and the system works with
both hard copy and electronic invoices.
Our Optimised Workflow Soware can perform validation
checks on the information extracted during the OCR process
to ensure that line items add up to the invoice total amount or
that the VAT amount is correct, for example. It can also extract
key data, such as supplier name and invoice number, and check
they correspond with valid purchase orders.
Process invoices quickly
and easily.
* Source: Hackett Group
Set customised alerts to ensure approvals are always dealt with. Store and scan invoices electronically for greater security and more
robust processes.