Accounts Payable Scanning, Invoice OCR & Data Validation

Vision360 Enterprise uses a unique blend of technologies and OCR engines in order to accurately extract data from supplier invoices. 

First it's important to understand what OCR is. OCR stands for "Optical Character Recognition". OCR is technology used to recognise textual content within a file such as a PDF files, TIFF file and scanned documents. The OCR technology is used to convert the text on the document into machine readable text. 

When it comes to supplier invoices this text includes things like the vendor name, invoice number, invoice date, purchase order number, freight, tax and invoice total as required by your ERP system and financial processes.

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Eliminate Manual Data Entry of Your Accounts Payable Invoices.

Some typical information that is extracted during the OCR data capture process for AP automation processing. 

• Vendor Name
• Invoice Number
• Invoice Date
• Due Date
• Purchase Order Number
• Reference Number
• Ship To Address
• Net Amount
• Freight
• Taxes
• Amount Due
• Item Number
• Quantity
• Unit Price

And many more additional fields of information can be captured. 

The data extraction process will capture all of the relevant data at a very high accuracy rate. In addition to utilizing our best in breed OCR and data capture technologies we will also utilize human verification. By adding human verification into the process this ensures the highest level of accuracy and consistency in data delivery to our clients. 

Next Step: Electronic Workflow

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