Things to consider
before switching to automated invoice processing
Things to Consider Before Switching to Automated Invoice Processing
The transition from manual to automated invoice processing can be a big step for some companies. Before implementing an automation solution, the organization should research possible providers and have a good understanding of how these solutions work. Even though the software is capable of performing most tasks unattended, people will still need to be involved in the process, since it is crucial to make sure that the invoice data is correct. It is not realistic to expect that the invoice processing software will work entirely on its own.
Although many companies are now turning to digital documents, it is estimated that more than 70% of the invoices are still sent and received as physical copies. What this means is that you will benefit from obtaining a good scanner. For example, devices that are capable of scanning documents at good resolution will contribute to much better OCR results, and respectively less errors in the extracted data. If you purchase a scanner with an ADF (automatic document feeder) you will significantly speed up the process of scanning the invoices and sending them to the software for OCR.
Apart from a scanner, you will also need to invest in the invoice processing solution itself. The size of the investment will depend on the size and type of your organization, how you are planning to use the product, as well as the features of the software. With time, you will be able to achieve an ROI and realize financial benefits that will also depend on many factors. Accurately assessing your current situation and carefully planning your existing resources will go a long way towards your goals.
Another thing you should keep in mind is that in many cases, employees are not very enthusiastic about automation solutions. They may not want to adapt to such changes or may be afraid of losing their job. While automation software can perform many repeating and tedious tasks, it cannot fully replace your employees. Make sure they are informed of the benefits of the solution and that it is there to make their job easier rather than make them useless.
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