The value promised by invoice scanning in the past had not materialized, as first-generation solutions had high error rates and insufficient business system integration. That's now in the past, concludes The Hacket Group. Its research has shown that data capture and invoice processing solutions have greatly improved.
Today's technology can "learn" to recognize supplier invoice layouts and "verify" document details against data element from the ERP and purchasing systems, says Hackett. Invoice capture can now deliver the three-fold promise of AP automation: minimal errors, maximum cash flow and optimized processes.
- Defining invoice automation and capture:
- For maximum impact, leverage multiple forms of automation
- Demand genuine invoice recognition and validation
- Seize efficiency opportunities arose accounts payable
- Raise the value proposition of purchase-to-pay
- Don't make the business case in a vacuum
- Looking ahead