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AP Automation

OCR Invoice Software That Saves You Work
 OCR Invoice Software That Saves You Work 150 150 Tim Robertson
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ocr invoice softwareocr invoice softwareMost OCR invoice software on the market today can be relied upon to locate data on an invoice and enter it into the appropriate field according to a user’s preferences. Even though this is a step up in the automation of invoice capture, it is still time consuming to go through every invoice that needs to be scanned and designate the proper placement of the data.

Intelligent OCR uses context to locate the required data, and compensates for poor quality images and misspellings, matching the data against internal sources. While this feature is available in some products, Intelligent OCR allows you to search most typical values from any document using a built-in Intelli-Tag database.

This additional feature allows you speed up your data capture applications without document templates. As well, you can create and/or customize your own Intelli-Tag database to improve your documents recognition or adapt to specific applications.

Intelligent OCR is capable of automatically and intuitively detecting/learning unique vendor invoices based on their respective layouts, allowing the scanning and/or importing of data from emailed or paper invoices with more efficiency. Intelligent OCR also intuitively performs field mapping and data collection.

  • Scans paper invoices (from your browser), capturing header and line item invoice fields
  • Easy-to-use and intuitive, browser-based interface
  • Gets high marks for ease of use and an intuitive interface
  • 95% accuracy rates
  • Integrates seamlessly with your ERP

Intelligent OCR captures invoice data from electronic document formats such as PDF, XML, EDI, Word, TIFF, JPG, HTML and more. Our data capture service is free for suppliers and they incur no cost to send invoices to your Accounts Payable system. The process is very straightforward – they simply send their invoices to a designated email account.

Book a demo of Intelligent OCR.

Royal Ravintoloihin is a new Palette customer
 Royal Ravintoloihin is a new Palette customer 150 150 Tim Robertson
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rr-logoRoyal Ravintoloihin is the largest private corporate entity in Finland. The company includes of the parent company of Royal Restaurants Oy and its subsidiaries Oy Union Hotels and Konseptiravintolat Oy. The group contains of 33 restaurants in 26 locations, 15 Hanko Sushi restaurants and 1 Hotel across Finland. The Palette products bought by Royal Ravintoloihin will be implemented in all locations.

55% of Companies Planning to Adapt Electronic Invoicing in 2015
 55% of Companies Planning to Adapt Electronic Invoicing in 2015 150 150 Tim Robertson
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electronic invoicingE-invoicing has been steadily growing worldwide over the last few years, and it looks like its growth could accelerate even further this year with the European Union looking to make e-invoicing mandatory for government procurement. The U.S Government has also mandated e-invoicing for government departments in order to lower processing costs and save an expected $450m.

According to research from e-invoicing consultancy and market analyst Billentis, a company can save up to nearly 80% by implementing automated invoicing processes.

But cost reduction is not the only reason why more and more governments and businesses are switching from paper to electronic invoicing. E-invoicing helps organisations to improve and streamline their financial operations, which is vital in today’s fast-paced and international business environment. It also makes it easier for them to track invoices, which prevents the risks of fraud and of invoices going missing.

E-invoicing technology enables faster, easier and safer payments between organisations, while achieving significant cost savings. With more and more companies and government departments set to adopt the technology, this will create greater collaboration between international business partners and more efficient international commerce.

Colchester Borough Council automates processing of 20,000 invoices per year
 Colchester Borough Council automates processing of 20,000 invoices per year 150 150 Tim Robertson
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Colchester Borough Council has gone live with the first phase of a project to implement a process to process up to 20,000 invoices each year by technology powered by CloudTrade, an EchoVera Technology Partner.

In the UK, Advanced Cloud Invoicing (ACI) is currently being used by suppliers using a purchase ordering system, and phase two of the implementation involves extending the system to those without purchase orders.

Advanced Cloud Invoicing (ACI) is currently being used by suppliers using a purchase ordering system, and phase two of the implementation involves extending the system to those without purchase orders. This solution is powered by CloudTrade technology.  Read the full case study

78% of CFOs Love Electronic Invoicing – Billentis Research
 78% of CFOs Love Electronic Invoicing – Billentis Research 150 150 Tim Robertson
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Billentis Research has found that 78% of CFOs love the visibility they get with electronic invoicing. See the video below for the whole story:

Canadian North Deploys Electronic Invoicing with Palette
 Canadian North Deploys Electronic Invoicing with Palette 150 150 Tim Robertson
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2011-8-10_23-59-37-947

Canadian North

Canadian North, northern Canada’s leading airline company, has deployed a web-based invoice automation solution from Palette. The airline is using PaletteInvoice to process, approve and schedule the 40,000 supplier invoices it receives annually at its offices in Edmonton, Calgary and Iqaluit.

The solution, which is part of the PaletteArena suite of accounts payable automation solutions, has been supplied and configured by Palette’s Toronto-based partner EchoVera. PaletteInvoice – built on the Microsoft .NET framework – is being used in conjunction with CloudTrade, which eliminates the need to scan PDF invoices.

The company reports that the Palette deployment has delivered closer control of costs, and enables Accounts Payable staff to work more productively.

“The biggest benefit we have gained from PaletteInvoice is transparency over accounts payable activity across the entire organization.”

Jeff MacPherson, senior financial analyst for Canadian North, said: “Before the deployment of Palette’s solution, invoices received as PDF files had to be printed, approved and coded, before being passed to our Accounts Payable department for manual filing; all of which was extremely time-consuming and labour-intensive.

“Since the introduction of PaletteInvoice in January 2014, our processes have been significantly streamlined and are now far more efficient.” MacPherson continued: “The biggest benefit we have gained from PaletteInvoice is transparency over accounts payable activity across the entire organisation.

“We can see exactly where we are in terms of pending invoices, which is vital as we operate from three main offices which are located in different cities. With automated invoice processing, we also have much tighter control over operations and a greater ability to manage volumes of work.”

PaletteInvoice integrates with Canadian North’s Microsoft Dynamics ERP system. For more information about electronic invoicing, visit Echovera here.

EQpack will get more efficient with PaletteOnline
 EQpack will get more efficient with PaletteOnline 150 150 Tim Robertson
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EQpack specializes in packaging solutions. ” We have the required knowledge about products, packaging and smart solutions. With our lean organization, we give you quick answers on cost-effective solutions to your packaging problems. We have our own manufacturing, but we also works with a wide network of suppliers and partners in areas such as injection molding, vacuum forming, sewing and plastic welding”.

 

Boiling Points, Revolutions, and Conservative MPs
 Boiling Points, Revolutions, and Conservative MPs 150 150 Tim Robertson
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Five Reasons to Automate Your AP Processes (Accounts Payable News)

e-Invoicing could revolutionize public sector procurement, say Conservative MPs (Shared Services)

E-invoicing – What’s your boiling point?  (Accounts Payable News)

AP Automation Market – $1.7 Billion in 2013? (PayStream Advisors)

Watershed Year for e-Invoicing (GSX Blogs)

 

 

 

 

 

EchoVera Offers End-to-End AP Automation with PaletteOnline Cloud Solution
 EchoVera Offers End-to-End AP Automation with PaletteOnline Cloud Solution 150 150 Tim Robertson
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Sailboat Under Blue Skies off the Florida CoastCloud solution delivers flexible, efficient invoice handling from receipt to payment for businesses of any size

8 July 2013 – Enterprise purchase-to-pay specialist Palette has announced that EchoVera, the Toronto-based provider of document automation solutions, is now offering the PaletteOnline cloud solution to its customers in the US and Canada to enable more efficient invoice processing.

EchoVera has added PaletteOnline to its range of document automation solutions for organisations seeking to drive efficiency in their financial and back-office processes.  PaletteOnline gives companies of any size a fast route to easier, more flexible invoice processing:  users get secure access in the cloud to their supplier invoices for checking, authorisation and detailed reporting, from any location with a Web connection.

Getting started with PaletteOnline via EchoVera is easy.  EchoVera can receive the customer’s invoices via its scanning solutions, email, or its electronic invoicing service for a truly touch-less solution. Customers can then process and authorise their invoices securely via PaletteOnline.  PaletteOnline needs virtually no set-up time, unlike traditional invoice processing systems, enabling companies to quickly make the transition to automated invoice handling and benefit from ongoing cost and time savings.

EchoVera has long been dedicated to helping private and public sector clients of all sizes streamline business processes and enhance productivity through the implementation of comprehensive Accounts Payable solutions. By integrating PaletteOnline into its solutions offering, EchoVera can provide their customers with a truly paperless alternative that drives workflow, processing efficiencies and measurable cost-savings, whilst reducing environmental impact.

Ralf Leitner, President for EchoVera said:  “Palette sets itself apart with its comprehensive yet easy to use purchase-to-pay solutions. Using PaletteOnline enables us to offer our customers secure access to their invoices, and visibility of their supplier ledger wherever they are.  Furthermore, the cloud solution allows us to help organisations of any size to quickly boost their accounts payable efficiency and reduce processing costs, with no upfront investment.”

Michael Cichy, Palette’s North American General Manager, said:  “By combining EchoVera’s outsourced services and PaletteOnline’s invoice handling capabilities, customers benefit from a seamless, end-to-end AP automation solution that delivers real efficiency gains.  It removes the upfront costs and deployment times needed by traditional solutions, enabling users to quickly realise ongoing cost savings.  We’re very pleased that EchoVera has added PaletteOnline to its range of document automation solutions.”

PaletteOnline links to customers’ ERP and business solutions through a secure web service, giving seamless, safe communication between the two systems. Once approved, all incoming invoices are securely stored with the corresponding postal information.  Finance departments experience a wide range of instant benefits, such as reduced workload, better control, and reduced costs.

Palette press contact: Petra Hagman  +46 8 763 092 25 email: petra.hagman@palettegroup.com

Palette press contact:  Craig Coward, Context +44 1625 511996

About Palette

Palette is a market leader in solutions for enterprise purchase-to-pay and automated processing of supplier invoices.  The company’s accounts payable product suite, PaletteArena, offers the most automated approach to supplier invoice matching and straight-through-processing.  This helps customers achieve significant, measurable cost savings and efficiency gains across their accounting and business operations.  Palette was founded in Sweden in 1993, and has sales offices across Europe and in the US, with over 1200 customers in 34 countries.  Visit www.palettegroup.com.

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