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 payment 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.
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 invoice 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 10 minutes per invoice, for 100 invoices per day, adds up to over 80 hours a week.