Incoming invoice automation
Invoice automation is not troublesome anymore thanks to smart solutions as our PDFCommunicator that will help you to dispatch proper invoices with the correct information. Moreover, that’s our ambition to automate your processes in order to slash manual labor on repetitive tasks. As a matter of fact, invoice automation is a good example and one of the most simple workflows to automate. As with every automated process, exceptions can occur. However, that’s the point, where an intuitive secure web interface becomes essential. EasyVerify is our choice and it’s designed to do even more. First, automatically collected user activity information is what gives the process a big advantage. Next, when the same or very similar invoices are seen a couple times, these invoices are served as input for Machine Leaning automation algorithms. To sum up, it’s a practical example where EasyVerify plays a role in self learning process of automation algorithms!
Invoice automation is the process that starts with receiving invoices. Then, supplier, amount and correct VAT checks take place automatically. In some case, manual visual review is advisable by a responsible budget holder in your organization. Straightaway, here comes EasyVerify to cover verification needs by displaying the invoice, add ledger numbers and any additional information retrievable from your applications. Indeed, think about project costs that require multi-step approval, and EasyVerify makes this workflow work for you. Thus, invoice automation eliminates the risk of missing invoices due to human error. There is more, let technology automatically select the invoices for their proper routing. All in all, you can receive any mail to an email address, technology will analyze the data and pick the right destination for each invoice.
Invoice automation: review
In the cource of invoice processing the information about the initial invoice source can play an important role, as an invoice can arrive in a variety of formats – paper, PDF or e-invoice. Specifically, a part of invoices get scanned and invoice information is extracted by OCR technology. That’s inside our invoice processing solution. It’s a known fact that reading invoices by OCR can give mistakes due to the quality of the source. In spite of the fact that our techology automatically corrects most of OCR errors, still some reqiuire manual review to correct. And that’s bringing in another benefit of EasyVerify. Beside reviewing by the budget owner the invoice can be labeled as scanned & OCR’ed. This way, such exception in modern invoice automation raises a flag for the budget holder to review such documents additionally, thus making your entire invoice process quicker and more efficient.
The last step and not less important is exporting the data into your
ledger software. At this stage our data export will seamlessly integrate
invoice processing with your accounting system or ERP solution.
Undoubtedly, over the years EasyData have build a lot of experience in this field. As a result, we have out of the box intergration tools for many accounting, DMS and ERP systems. Just name your system and we come up with our connector part.