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ISP-Invoice

Electronic invoice processing

Many accounting departments still process tens of thousands of purchase invoices by hand each year. Data is manually collected in a laborious, time-consuming and often error-prone procedure and then entered in ERP or accounting systems before being released for approval and archiving. In many cases, this process involves multiple employees. If an employee falls ill, no invoices are processed. In decentralised organisations, it often requires days and weeks before individual transactions can be recorded and entered at head office. This process lacks transparency, uses significant business resources and ultimately costs the business a great deal of money.

ISP-Invoice is the solution

ISP-Invoice allows you to fully automate processing of incoming invoices, both invoices associated with orders and cost invoices. You can save up to 70% of the total processing time. ISP-Invoice can also be fully integrated in your existing ERP and accounting system.

Scanning and recognising invoices

How does this work? Accounts payable departments use ISP-Invoice to scan incoming invoices each day. The scanning process consists of a number of steps. Firstly, the image of the invoice is optimised for recognition and saved as a TIFF file. Next, the system automatically recognises input fields such as the vendor, invoice number, invoiced amount, order number, etc. A system for optical data capture and intelligent recognition of characters is used for this.Recognition takes place based on unstructured forms. The advantage of this approach is that employees do not need to create a document template for each individual vendor. Next, an employee verifies the data. The person processing the invoice can use drag-and-drop functionality if required. Fields that have not been recognised, or not fully recognised, can be amended with a single click of the mouse. The system remembers the indicated structure for invoices from major vendors and these invoices are recognised unequivocally in the future. After verification, the system releases the invoices for coding and automatic matching.

Highlights

  • Scanning and automatic recognition of invoices
  • e-Invoicing support for electronic receipt of invoices
  • Automatic invoice matching based on orders
  • Extensive electronic archive to allow fast and simple searching for invoices
  • Process monitoring with reminder function

Download

Electronic invoice processing.pdf