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Invoice Processing

Benefits:

Eliminates expensive 'keying in'
Faster and more accurate processing
No expensive re-processing
Digitally captures paper data
Electronic archiving - rapid retrieval
Facilitates BI analysis of invoices
Enables electronic information sharing
Supports compliance
Provides better management control
No data reorganisation
No IT infrastructure changes
Rapid implementation
Extendable to provide document management

Overview

Traditionally, much effort has been put into streamlining the Purchase to Pay process within organisations. However, Accounts Payable tends to still involve paper orientated manual processes which can impact on invoice processing accuracy, payment settlement KPIs and departmental efficiencies. Azolve provide an intelligent invoice scanning solution which improves invoice handling efficiencies and reduces cost.

Key Features:

Invoice scanning
Intelligent OCR
Powerful keyword searching
Rules based invoice analyser
Process workflow
Enterprise application integration

Invoice Scanning

Azolve can provide scanning software which integrates to any TWAIN compliant paper scanner which enables images to be captured digitally. However, if organisations already have scanning solutions, we can take images of invoices and process these accordingly.

OCR

Image files are processed via Optical Character Recognition (OCR) for text conversion that enables key characteristics of the invoice to be identified which, in turn, determines the rules for invoice information extraction.

Invoice Search

Once a scanned image has run through OCR, we are able to index the full contents making all invoices available to Accounts Payable personnel for rapid and accurate searching - any invoice can be found and retrieved in seconds. Automatic summaries of the invoice are also displayed, so that 'at a glance' the supplier, invoice number, PO number and gross total can be viewed.

Invoice Analyser

A 'content analyser', using a generic invoice template is applied to the text and through 'zoning' and 'keywords' a template rule can automatically be constructed for each specific invoice type to facilitate rapid extraction of pertinent data from future invoices conforming to any specific type. Our intelligent rules engine provides for manual intervention to resolve templates for problem invoices, but it learns from this manual input and the rules generator is refined and new knowledge is applied to future invoice styles. This learning technique makes for a rapid deployment and early benefits being realised.

Integration

One of the benefits of our solution is the integration touch points with other applications (e.g. financials, e-procurement, ERP). Integration with such systems capitalises on their innate intelligence which can, for instance, divert mis-matches between invoices and their Purchase Orders into an exception handling process. Automatic invoice registration is achievable from the information that has been gleaned from the original invoice. This process helps to improve departmental efficiencies.