Invoice Capture Software for Automated Data Collection
Constantly chasing paperwork? IntelliChief’s invoice data capture tools let you automate key steps in the process.
We know just how challenging it can be to manage hundreds of invoices a day. It’s not just collecting the documents and getting them to the right people; it’s keying the data into the right programs, confirming that everything matches, and paying the appropriate invoices ASAP to make the most of early pay discounts.
For many companies, this is easier said than done.
But, you don’t have to manage all of this by hand. You can let IntelliChief’s invoice data capture software handle the administrative work, letting your employees focus on exception handling and analysis. The result? Lower invoice processing costs and faster accounts payable workflows.
Capturing Your Invoice Data with OCR
Optical character recognition lets you extract information from paper documents and turn it into machine-readable data.
When it comes to invoices, OCR can locate purchase order numbers, vendor names, dates, quantities, unit prices, and more. However, not all solutions are created equal. Certain data automation programs can only find this information when it’s located in the same place on every invoice. But because many suppliers use different formats for their paperwork, you’ll get better results from an OCR solution that can support unstructured data. These allow you to capture critical data no matter where it’s located on the document.
How Much Time Can You Save With Automated Invoice Processing?
While an employee may take 15 to 20 minutes to process a single invoice, data capture software can collect the same information in seconds. And the more invoices you process, the more time you save. Even a conservative estimate of a 10 minutes per invoice, for 100 invoices per day, adds up to over 80 hours a week.
With IntelliChief’s automated invoice capture solutions, you simply scan in your documents, and technology takes care of the rest. It doesn’t matter how you receive your invoices, either: our software works with PDFs, faxes, emails, and scanned hard-copy documents.
More Than Just Data Capture: Accounts Payable Automation Solutions for Invoice Matching, Data Validation, and Payment Processing
IntelliChief’s invoice automation tools let you do more than just capture your data, helping your AP department save even more time throughout the procure to pay cycle. Our solutions:
- Import your data into your accounts payable software
- Compare your invoices to your purchase orders and receipts
- Convert currencies and units of measure
- Automatically route your invoices to designated users for approval
- Schedule payments based on each invoice’s due date
- Store your invoices in a secure, searchable digital archive until they are no longer needed for your records
- Match all the related documents in a transaction together, even from different departments
When the data on an invoice matches the purchase order and receipts you have in your ERP, the invoice can be processed straight through. Your team doesn’t have to get involved. But, when our invoice validation program detects an error, IntelliChief automatically sends the invoice to an AP specialist for resolution.
Because this is all done in a matter of seconds, you’ll be able to move your invoices through your organization much more quickly. With AP automation, capturing, processing, and paying your invoices has never been easier.
To learn more about IntelliChief’s invoice data capture software, contact us today. We can help you customize a better document processing system for your specific needs.