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OCR Techniology for Invoice Processing

OCR Technology for Invoice Processing

Most companies understand the importance of going paperless. In many cases, an organization’s invoices are scanned to electronic documents in order to eliminate the need to store physical paper. What many people do not know is that there is much more that can be achieved – a complete transition to a truly automated invoice processing.

How can you make your workflows faster, more efficient and much cheaper? The answer is automation. Why deal with manual scanning, routing, data entry, classification and more, when you can take advantage of the latest recognition technologies to save money, time and effort? OCR, or optical character recognition, is a key factor when it comes to invoice processing. How and why is OCR important?

Scanning paper documents produces images – just as taking photos. Keeping documents this way has several advantages – digital files do not require large spaces for archiving, they are easy and fast to send and receive. OCR takes this one step further. It transforms the images into searchable and manageable digital information that can be used for further processing with accounting or enterprise resource planning (ERP) systems.

SmartSoft Invoices is based on the powerful and highly-accurate SmartOCR recognition technology, delivering very low error rates, document layout detection and fast processing. With SmartSoft Invoices, companies can automate various operations in the accounts payable department, including, but not limited to scanning, data entry, validation and classification. SmartSoft Invoices enables organizations to minimize costs, speed up their workflows, take maximum advantage of their resources and achieve a stable ROI.