OCR Invoice Scanning for Both Paper and Email FormatsOCR Invoice Scanning for Both Paper and Email Formats http://echovera.ca/wp-content/themes/corpus/images/empty/thumbnail.jpg 150 150 Tim Robertson http://0.gravatar.com/avatar/6847ba38495b3996e0bdf3a15c015e0c?s=96&d=mm&r=g
Organizations looking for OCR invoice scanning software to capture the supplier invoices they receive have a choice to make.
There are key differences between OCR technologies. The difference can mean having a solution that handles all formats (with a substantial increase in productivity) where intelligent software intuitively maps out the fields to be scanned, and then inputs the data to the ERP – or investing in OCR technology that is limited in the formats it handles, has ERP integration issues or is user-unfriendly.
The most cost-efficient platforms offer a subscription where pricing is based on the number of invoices processed (as opposed to the number of users).
Look for a solution that gives you the most flexibility no matter what the format, as well as the option to have an approval workflow, PO matching, and other functionality.
Historically invoice data capture is performed in two ways: manually keying in data from paper invoices; or the invoices are scanned with OCR software and then manually mapped in order to capture essential information from relevant fields in the document. Here are some of the issues with simple OCR:
- Time is spent on field-mapping: a staff member gives the OCR software instructions as to where data is located on an invoice
- Time is also spent on data collection: a staff member manually selects the data zones
- Integration and the lack of a workflow
Intelligent OCR changes the playing field dramatically. It intuitively performs field mapping and data collection, freeing up time and making the entire process more efficient:
- Automatically learns supplier invoices based on their respective layouts, intuitively mapping field data.
- Allows the user to search typical values in any document, and tagging it using a built-in database.
- 95% accuracy rates for paper invoices
- 100% accuracy rates for electronic file formats that received in email, such as PDF, XML, CSV, HTML, Word, Excel and more.
Once the data is captured by Intelligent OCR the option is to have it sent directly to the ERP or through an AP automation platform.
For more information on OCR invoice scanning visit Intelligent OCR, here.