Capturing Invoice Information
Invoice scanning and capture – the first step to cost reduction through automated invoice processing
Companies switching to automated invoice processing are typically able to reduce invoice processing costs by 50%. Assuming a conservative processing cost of £4 per invoice, this would translate into an annual saving of £100,000 for a company processing 50,000 invoices per annum.
Invoice capture is the first stage in electronic invoice automation. The DCS invoice scanning and capture solution allows you to capture both paper and electronic invoices. Capturing invoices as they arrive in your business can help you achieve complete end-to-end automation of your invoice processing operation by enabling workflows for invoice matching, invoice coding, invoice exception handling, invoice approvals and invoice archiving.
Paper invoice capture
A significant proportion of invoices are likely to be received in paper format or as faxes for some time to come and this must be factored in while automating invoice processing.
Using world leading Kofax KTM learn-by-example technology, the DCS invoice capture module automatically extracts header data such as supplier name, date, purchase order number, invoice number and amount, as well as invoice line items. The invoice software can also recognise and process different languages and currencies. The extracted invoice data is easy to validate, eliminating the need for time-consuming manual data entry and enabling rapid delivery of high quality data into back office ERP systems such as SAP, Oracle, Sage, Microsoft, JDE or CODA.
PDF invoice capture
A greater number of invoices are now being received by email as PDF attachments. However, the receiving accounts payable department may not be set up to process these formats directly. Instead, PDF invoices are printed and processed using standard paper invoice processing procedures.
DCS invoice capture enables you to take full advantage of invoices received in electronic PDF format and automatically extracts invoice data with no need for printing, scanning or manual keying.
The DCS invoice capture module can capture a range of electronic invoice formats such as XML, EDI, BASDA eBis-XML and other proprietary formats. Even in cases where invoice data cannot be extracted directly from an electronic format, the DCS invoice capture solution will be able to process the invoice in a similar way to paper invoices, but without the need for scanning.
Whether you receive invoices in paper, fax, PDF, JPEG, TIFF, XML or other format, DCS has the invoice capture solution for your current and future invoice processing needs.
We can also help you bring your suppliers on board to e-invoicing. See e-invoicing for suppliers for more details.
How can I get the most out of invoice automation?
If you have questions about best practice in rolling out software for invoicing within your business, why not speak to one of our consultants on 01753 616720 or complete our contact form for a fast, tailored response.