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 recognize textual content within a file such as a PDF files, TIFF file and scanned documents. The OCR automation 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.
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.