This post will continue to discuss the benefits of data capture software for invoices. As we discussed previously, your paper invoices are not going away any time soon. And the costs of processing them continue to rise – 37% in the past 4 years. Data capture software for invoices integrates with any document scanner to capture all the important information from the invoice digital image. This data capture software uses best-of-breed OCR and ICR recognition for highly accurate capture of all key invoice data including: vendor ID, PO #, invoice date, line item and total amounts. This information can be automatically validated, then delivered directly into your accounts payable, ERP, document management or other back-end system.
Once the vendor’s fingerprint has been found, data capture software applies zone and location rules to first find the data on the invoice, then capture and extract all your required data fields – such as invoice date, invoice number, purchase order number, and invoice total. This data capture software is not limited to “header” fields; it can pick up line item details as well.
Validation – Verification
A customizable interface displays invoice image and recognition results side by side, highlighting fields and characters that need review. Math calculations on line items verify subtotal amounts by comparing quantities and unit prices. User-configurable rules automate validations according to an organization’s business rules, assuring, for example, that totals match the amount authorized for every purchase order, or that the invoice date doesn’t exceed specified parameters. Verifiers have easy-to-use features for correcting recognition, including Click’ N Key and Dynamic Details, which further enhance productivity. Intellocate automatically updates the fingerpoint library with changes to new and existing fingerprints.
Data and Image Delivery
Data capture software supports a wide variety of imaging and accounting systems to enable multiple concurrent exports of invoice data and images. Export invoice data and images at any step in the capture process into any combination of ERP, database, storage, or enterprise-specific systems.
For more information about data capture, contact OSAM Document Solutions, Inc.