Efficient invoice processing saves organisations time and money while reducing manual data entry and OCR technology plays a major role on allowing companies to automate their data input processes, saving them time and money while increasing data accuracy levels. However, Finance Professionals need to be aware that if they are using an OCR system that is not integrated with their accounting software, they will have the data automatically captured but the system will not know how to process that data, meaning that manual work will not be reduced.
That is why PaperLess Document Management with built-in OCR software has become the preferred solution among Sage users to automate document management processes and speed up invoice processing routines. Created by Sage Platinum Developer Partner, PaperLess Europe, PaperLess software offers Automatic Invoice Recognition with two layers of OCR (Optical Character Recognition) technology to extract the relevant data from your invoices into PaperLess, which will then be sent to other colleagues for approval within the same workspace.
Businesses have been relying heavily on manual invoice processing. Dealing with paper invoices can be time consuming and can cause many human errors with manual data entry. Some companies are still using the traditional methodology Scan to Archive, which means they only digitise invoices for archiving purpose. Unfortunately, countless manual errors happen because of the old fashion way of processing paper invoices in an organisation.
Every business deals with invoices, so efficient invoice processing is crucial for running a profitable business. After several months, invoices from previous months may still be pending and without approval. Entering large amount of data from the invoices into your computer can be so tedious that manual mistakes are unavoidable.
For companies that receive many invoices from the same supplier on a regular basis, PaperLess efficient invoice processing creates customised invoice template for a particular supplier. Next time you run automatic invoice recognition on the same supplier, there is no need to edit the accounting lines over and over again.
PaperLess makes invoice processing simple and smart. After invoices have been digitised and edited in PaperLess, businesses can post batches of invoices directly into their existing accounting applications. PaperLess integrates seamlessly with Sage 50 Accounts, Sage 50c, Sage 200c, Sage 200 Standard Online and Sage 200 Extra Online enabling Sage users to automatically process invoices and many other accounting documents as well as to retrieve those same documents via a live lookup directly from within Sage accounting lines.
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