Power of PAYBOX®
AP Benefits of Scan Capture
Scan capture is the first and one of the most important steps of invoice automation. Managing Accounts Payables (AP) effectively is an enormously complex, albeit critical component of a successful corporation. AP automation software makes managing this process easier, saving time and offering more accurate data.
Direct Insight provides scan capture automation services that are compatible with any invoice format and help organizations in any stage of AP automation—whether they have fully automated invoice processing capabilities or are just getting started.
Business Benefits of Scan Capture in AP Management
The scan capture step in AP management programs eliminate the need for bulky paper processes, allowing the seamless collection, management and secure storage of all AP information electronically. Scan capture reduces the number of manual business processes needed and is an important component of a successful AP invoicing automation strategy.
The scan capture feature in Direct Insite’s marketing automation software yields a number of key business results, including:
- Accurate Data: With scan capture in AP automation software, companies have access to higher quantities of better quality data versus manual invoice processing. This gives companies access to an array of organizational insights and dramatically reduces errors, preventing downstream issues such as supplier disputes.
- Lower Labor Costs: Scan capture significantly reduces the need for manual entry of invoice data. With effective optical character recognition (OCR) and human data verification, companies can achieve lower data error rates at an optimal processing cost.
- Streamlined Invoice Processing and Greater Visibility: Accurate invoices are automatically forwarded for processing, eliminating bottlenecks. Smart scan capture solutions can be trained on different invoice types to increase speed and efficiency. Corporate management and key stakeholders benefit from immediate access to scanned invoices and insights, regardless of location or device.
- Improved Supplier Relations: With more accurate AP information from scan capture technology, invoicing discrepancies and supplier disputes are reduced. Invoice receipt automation also eliminates missing or lost invoices, improving supplier relationships, reducing the number of supplier inquiries and improving discount capture.
- Compliance with Regulations: Companies can access and use accurate invoicing data from their scan capture system to execute compliance checks to ensure they meet sophisticated regulatory requirements and customized business rules.
By eliminating paper, reducing costs, achieving real-time cash flow visibility and spending less time processing invoices with Direct Insite’s scan capture phase, organizations will have more time to spend on core competencies and driving business growth.
Key AP Scan Capture Features
As the initial phase of an effective end-to-end AP solution, there are several important capabilities a strong scan capture module should incorporate:
- Ability to accept invoices in a variety of formats, including paper, e-mail, fax, EDI and web portal
- Enable a Zero Footprint environment for invoice receipts
- Apply business rules and compliance guidelines in all phases of scan capture, and move invoices that fail a business rule to a designated queue
- Advanced OCR and ICR technologies
- Fully configurable electronic routing of documents by workgroup or document type, and automated routing of approved invoices to appropriate AP/ERP systems
- Automated dispute management
- Real-time monitoring and auditing for any invoice type or processing task
- Instant archiving and seamless navigation
- User-friendly reporting and analytics
When selecting an end-to-end AP solution, it’s important to keep in mind the above list of features and capabilities to ensure the scan capture phase is playing an effective role in your organization’s AP transformation.
Direct Insite’s scan capture module creates new efficiencies, streamlines invoice processing and management, and leverages your organization’s existing technology investments, making it easier to drill down and obtain valuable business insights while ensuring your AP process is running smoothly.