Recent News and Events
|CVISION Releases Trapeze for Invoice Processing 2.0 to Reduce Costs Associated with Accounts Payable|
Forest Hills, NY, February 29, 2012-- CVISION Technologies Inc., a leading provider of advanced document capture software, today announced the release of CVISION Trapeze for Invoice Processing 2.0. Trapeze for Invoice Processing is an automation solution that optimizes the accounts payable workflow and leads to a tangible ROI for organizations. The solution is designed to help any accounts payable department reduce the costs associated with invoice processing data entry. Trapeze for Invoice Processing differentiates itself through the highest recognition rates available for extracting field data of invoices, as well as advanced machine learning technology.
Trapeze for Invoice Processing is powered by a highly accurate OCR engine, allowing it to correctly recognize invoice data. Unlike other automation software, Trapeze delivers consistently high accuracy with a wide variety of invoice types. The software is also capable of high volume processing, allowing it to process a high volume of invoices concurrently using multi-core technology.
The primary benefit of Trapeze for Invoice Processing is that it reduces accounts payable costs by automating invoice processing. With lower overhead costs as well as faster processing time, businesses can achieve a real ROI through repurposing staff and early payment discounts. Trapeze is a simple to use “out-of-the-box” solution. The software requires minimal training and set-up. The solution can also integrate seamlessly with existing accounting systems, allowing for a smooth transition to greater efficiency.
Trapeze for Invoice Processing features:
• A “smart system” that leverages advanced machine learning technology to learn and update vendor templates based on manual corrections
• The highest recognition rates available “out-of-the-box” for automated invoice processing
• The ability to auto-validate invoices
• A customizable system for user-defined business rules that enable viewing and editing of invoices that fit your business rules profile
• Software which enables users to pre-train the invoice recognition system by using a sampling of invoices and data for improved accuracy
• High accuracy, multiple voting OCR engine yielding increased AP accuracy and automation
• The ability to output the extraction results to EDI, CSV, or XML
• Seamless integration with existing accounting systems
Chris Koulouris, director of marketing at CVISION Technologies, said, “Any company can benefit from invoice automation because it streamlines the accounts payable process. Automation represents an effective solution that can reduce cost and paper usage while improving the accuracy and speed of invoice processing. Our Trapeze for Invoice Processing solution distinguishes itself through higher accuracy rates for recognition on invoice field data. Based on the reduced data entry, we expect our clients to realize an ROI within months, rather than years, of implementation. ”
For a firsthand experience of CVISION’s software, please visit the CVISION website and request a free evaluation copy of Trapeze for Invoice Processing. This evaluation copy is fully functional and is made available to provide potential customers with a better understanding of how the software can automate their accounts payable department and benefit their business.