Digital Invoice Processing

Benefits

Open Text Invoice Capture Center Open Text Capture Invoice Center 4S Added Value Schedule a Presentation

Why digital invoice processing?

Dealing with incoming invoices is a business process that is well known in practically every enterprise. Although a rather seldom critical business, there is a need to optimize this job, particularly when hundreds or even thousands of invoices flow in per day, causing enormous expenses.

The first key for optimizing is early scanning. Instead of the paper document the digital image is used for further processing. By applying the digital workflow the physical transport is dropped, circulation is speeded up, and idle periods are reduced. Besides, at all times the accounting department is informed on the current status of each single invoice.

Automatic data extraction is the second key for optimizing the process. Instead of painstakingly keying in the data into the merchandise information system, and searching for order positions in various masks, an intelligent document analysis software extracts the data from the scanned invoice and suggests a suitable entry.

Over the past years the recognition of documents and their electronic processing have been experiencing rapid development. For business enterprises this technique creates an important potential for saving in the field of processing incoming invoices.

Return on Investment

A company will become aware of the value that Invoice Center adds to its objectives in a relatively short-termed time frame. As a rule reducing the average processing costs from 12 € to 9 € per invoice leads to a payout period of less than one year.

Return on Investment, Example Invoice Center
Invoices / Day	500	Invoices
Work Days / Year	220	Days
Manuel Processing Expenses / Invoice	12,00	Euro
Digital Processing Expenses / Invoice	9,00	Euro

Cost savings / Year	330.000	Euro
Payout period	< 9	Month

Added Value for your Enterprise

More Productivity: Manual jobs, like keying in of invoice data, physical transport etc. can be reduced down next to zero. Input times and transmission delays are cut, processing expenses are reduced, and an overall enhanced productivity is achieved.

Higher Accuracy in Capturing: The automatic recognition supplies exact and complete invoice data to the respective target system. A costly search for errors and corrections are avoided.

Optimal Cash Management: The general accounting department controls the entire procedure of invoice processing. It optimizes the planning of liquidity, increases cash discounts received, and sees to avoid dunning charges. At any time the general accounting department has an up to date overview of the balance sheet and the statement of loss and gain.

Added Value for your Staff

Accounts Payable Department:

Fast and automated capturing of invoice data
More space thanks to digital archiving
Easy and fast document retrieval
Faster response to supplier requests

Approval of Invoices:

Fast and efficient approval by web based interfaces
Geographical independence for branch offices
Reduced access times with document retrieval

Check of Invoices:

Immediate access to all invoice data
Quick update of accounts
Audit security guaranteed by early archiving

Management:

Decisions can be taken on the basis of more recent data
Optimal liquidity planning and overview
Financial statements are presented much earlier
Cash discounts received are optimized, dunning charges are avoided
Improved negotiating platform with suppliers due to faster payment
Cost reduction by optimized processes