Intelligent OCR for Sage Intacct – An EvolutionIntelligent OCR for Sage Intacct – An Evolution https://echovera.ca/wp-content/themes/corpus/images/empty/thumbnail.jpg 150 150 Tim Robertson Tim Robertson https://secure.gravatar.com/avatar/6847ba38495b3996e0bdf3a15c015e0c?s=96&d=mm&r=g
Organizations with one of the world’s most popular ERPs are considering making their operations more efficient by using Intelligent OCR. But not all OCR technologies are made equal, and most OCR technology is still fairly resource intensive for accounting departments. Why is that?
No denying OCR is very useful in the automation of accounts payable when it comes to processing either paper or email invoices. That’s because data has to be generated from a scanned image of the invoice, and that’s what it does.
The only problem is that a lot of time is spent on field-mapping, where staff have to map out the data fields for each invoice type in the OCR software program they are using. As well, staff also spend time on data collection by manually selecting data zones.
Intelligent OCR solves the manual aspect of this task by automating both field mapping and data collection. It does this by automatically detecting (and learning) supplier invoices based on invoice layouts and data fields, allowing for the scanning and importing of different invoices of varying complexity. Intelligent OCR software also lets a user search for typical values from any document, tag it, and store it in a database.
The Evolution of Intelligent OCR for Sage Intacct
1. Optical Character Recognition (OCR) – 1978
OCR is used to process scanned paper invoices, and then the invoice layouts are manually field-mapped.
2. Template OCR – 1993
OCR that automatically detects the invoice type based on its layout and sorts data accordingly.
3. Intelligent OCR – 2016
Intelligent OCR recognizes both fields and invoice layouts intuitively, dramatically reducing the need for field-mapping and manual data selection. It also allows for intelligent tagging.
AP departments are spending more time looking for ways to optimize their operations, rather than looking for fields in an invoice!
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