Reduce your Document Processing cost by 60%
Empowering your Businesses through effective Robotic Process Automation
How Does Document Processing Works?
Multiple Sources Inputs Document
Document processing involves the efficient extraction of relevant information from various sources, ensuring accurate capture and digitization of data for further analysis and utilization.
Extraction & Processing
Document processing involves the efficient extraction of relevant information from various sources, ensuring accurate capture and digitization of data for further analysis and utilization.
Verify & Synchronize
Verification ensures the accuracy of automated invoice data, validating key information against predefined criteria. Synchronization then seamlessly integrates verified data into the financial system, fostering efficient and error-free automated invoice processing.
Document Type Suported
Bank Statement
Bill of Lading
Invoice
Insurance Document
Custom
What Is Automated Document Processing?
Document processing automation is the process of streamlining and automating the document processing workflow. Document automation streamlines the accounts payable processes by automatically paying supplier invoices.
Document processing workflow includes steps like extraction of document data, entering the data into the ERP/CRM system, and reviewing and approving invoices automatically based on preset rules.
Most invoicing platforms can directly integrate with ERP platforms, which helps increase the timeliness and accuracy of payments.
Features Of Document Processing Software
Smart Document Capture
Utilize advanced optical character recognition (OCR) technology to intelligently extract relevant information from invoices, including vendor details, invoice amounts, and line items.
Automated Data Validation
Employ machine learning algorithms to cross-verify extracted data against predefined rules and historical patterns, minimizing errors and ensuring compliance. Intelligent validation mechanisms flag discrepancies and prompt corrective actions, enhancing data accuracy.
Integration with Accounting Systems
Seamlessly integrate with popular accounting and enterprise resource planning (ERP) systems, enabling synchronized data flow. This feature enhances collaboration between finance and accounting teams, reducing manual data entry and promoting real-time updates across platforms.
Advanced Analytics and Reporting
Employ machine learning algorithms to cross-verify extracted data against predefined rules and historical patterns, minimizing errors and ensuring compliance. Intelligent validation mechanisms flag discrepancies and prompt corrective actions, enhancing data accuracy.
Benefits Of Document Processing Automation Software
Eliminate Manual Work
It eliminates tedious manual tasks, accelerating workflows and reducing errors, ensuring faster and more accurate document handling.
One-click Document Approvals
The software facilitates seamless approval processes with one-click approvals, and reducing delays in authorizing documents.
Improved Efficiency
By automating document processing, the software enhances overall efficiency, enabling quick and streamlined operations, ultimately saving time and resources .
Comprehensive Insights
This software offers analytics and reporting functionalities, empowering organizations to gain valuable data-driven insights into document lifecycles.
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Why Choose Us For Document Processing Automation?
Enhanced Efficiency
Our Invoice Processing Automation solution interfaces effortlessly with your existing systems, eliminating human data entry and shortening processing times. We empower your staff to focus on higher-value activities by automating boring operations, increasing overall productivity and efficiency.
Error-Free Accuracy
We ensure precise data extraction, verification, and matching for each invoice using cutting-edge technology. You may be confident that your financial records are always up to date and compliant since human error is minimised and accuracy is increased. Say goodbye to costly errors and hello to peace of mind.
Cost Savings
Our Invoice Processing Automation system optimises your invoice management operations, saving you money. You may allocate resources to other key areas of your organisation by decreasing labour expenses associated with manual processing, minimising late payment penalties, and improving cash flow management.
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Frequently Asked Questions
Document processing involves the systematic handling and verification of invoices received by a company. The process typically includes the following steps:
– Receipt: Documents are received from suppliers or vendors.
– Verification: Documents are checked for accuracy, ensuring they match the corresponding purchase orders or contracts.
– Approval: Documents go through an approval process, often involving multiple stakeholders or departments.
– Recording: Approved documents are recorded in the company’s accounting system for payment.
– Payment: Payments are made to suppliers based on the recorded and approved documents or invoices.
document processing refers to the series of steps a company takes to handle and manage incoming documents. This encompasses tasks such as receiving, validating, approving, recording, and ultimately paying invoices. Efficient document processing is crucial for accurate financial management, cost control, and maintaining positive relationships with suppliers.
There are various advantages to using document processing automation software, including enhanced efficiency, decreased errors, faster processing times, improved visibility into the invoice lifecycle, and better compliance with financial regulations. It eliminates human data entry, reduces the possibility of duplicate payments, and improves cash flow management.
– document Scanning and Data Capture:Utilize software to automatically extract relevant data from paper or electronic invoices, reducing manual data entry.
– Workflow Automation: Implement workflow automation tools to route invoices through the approval process, ensuring a seamless and timely review by relevant stakeholders.
– Integration with ERP Systems: Integrate invoice processing software with Enterprise Resource Planning (ERP) systems for real-time data synchronization and accurate financial reporting.
– Electronic Invoicing (e-Invoicing): Encourage or require suppliers to submit electronic invoices, facilitating faster processing and reducing the likelihood of errors.
– Machine Learning and AI: Employ advanced technologies like machine learning and artificial intelligence to enhance accuracy, identify anomalies, and continuously improve the efficiency of the invoice processing system.
– Digital Approval Workflows: Implement digital approval workflows to reduce the time and effort required for manual approval processes.
– Supplier Portals: Establish online portals where suppliers can submit and track invoices, fostering transparency and collaboration.