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AP Automation is Much More than OCR Data Capture

    February 1, 2018 Leave a comment AP Automation, invoice processing, accounts payable automation, Accounts Payable, ocr, digital transformation, automate invoice approval, invoice approval, apcenter, reduce ap processing cost ICM Admin

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    OCR is Only One Part of AP Automation

    OCR can be a valuable piece of a comprehensive AP Automation solution. OCR saves time by helping automate both the vendor identification as well as the data extraction portion of the data entry workflow.

    However, while OCR can often provide efficiency gains, it only contributes to a fraction of the entire workflow. For most businesses, the data entry (or invoice capture) phase only accounts for 10% of the entire invoice approval process.

    Beyond OCR, the Other 90%

    Gaining control of your entire AP process and accelerating invoice approvals is key to realizing maximum benefits. Other key features include: General Ledger Coding; Duplicate Invoice Detection; Approval, Exception and Discrepancy Resolution Routing; Invoice Notifications and Escalation; and Enforcement of Compliance Policies.

    Read our article Relying on OCR for AP Automation; Avoiding a Common Pitfall to learn more. And subscribe to our blog for future, in depth, articles.

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    Choosing an AP Solution Vendor

    An experienced vendor would be comfortable helping you evaluate your current AP process, share their tribal knowledge and be able to design and put in place an AP automation solution that's the right fit for your business.

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    AP Automation, invoice processing, accounts payable automation, Accounts Payable, ocr, digital transformation, automate invoice approval, invoice approval, apcenter, reduce ap processing cost

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