Going Paperless with Automated Invoice Processing

Many organizations are taking steps towards a paperless office. The concept involves the usage of electronic documentation rather than physical and offers many advantages, including reduced costs, faster and more efficient workflows, as well as environmental benefits. Digital documents do not require large archiving space, they are easy and quick to route and retrieve, and can be reviewed by different people in the company at any time.

Creating a paperless office is not a quick and effortless transition but it will definitely pay off in the long run, helping you to stay competitive and more efficient. The contemporary technologies for managing electronic documents are developing at a fast pace, replacing paper with digital files, just like computers have substituted manual human labor.

Automated invoice processing is a significant step on the way to going paperless. Almost all organizations have to deal with invoices at different scales and this often turns out to be one of the slowest and most laborious tasks, especially when dealing with paper. Studies show that more than 75 percent of invoices are still received in paper, even though this number is expected to fall drastically in the near future. This means that invoice automation starts with scanning the incoming paper invoices. The digital copies are then processed with optical character recognition (OCR) technology to transform the images into manageable data, followed by classification and processing with accounting software.

SmartSoft Invoices is a professional product for invoice automation. Based on the highly-accurate SmartOCR technology, the solution delivers very low error rates and automates key operations, such as scanning, invoice data extraction, validation, classification and direct export to the ERP or accounting system. SmartSoft Invoices enables organizations to quickly and smoothly switch to automated invoice processing without requiring significant initial investment or training.