With CVISIONâs Trapeze for Invoice Processing, the entire process can be streamlined. Invoices can be handled programmatically by extracting relevant information from the invoices. A process that was previously handled by several employees can now be completed more effectively in a fraction of the time. By reducing the amount of time taken to manually enter information, organizations can realize a measurable ROI in a short period of time by the reduction of manual processing costs, early payment discounts, and improved vendor relationships.
Easy Integration into the Accounting Process
Trapeze offers organizations the ability to integrate into their existing workflow. Data extracted from invoices can be integrated through desired specifications. Once the data is extracted, it can be outputted into industry standard formats including XML or CSV.
Trapeze for Invoice Processing will automatically detect invoices with missing or incorrect data in critical fields; these invoices are flagged and sent to Trapezeâs exception handling bucket, while the rest of the invoices are processed.
Calculating the Value of an Automated AP System
According to industry studies, the cost of manually handling an invoice from start to finish is estimated to be $30-$50 per invoice. By automating pieces of the process, the cost per invoice can be reduced by more than 30%. Consider the following example to help understand the value in real terms: Organization A processes 15,000 invoices a year at an average cost of $30/invoice. Using conservative figures, Trapeze can reduce the cost of each invoice processed by $5. Therefore, if 15,000 invoices are processed in a year, organizations can save $75,000 in the first year. These figures can be scaled up or down based on volume.
What Makes Trapeze for Invoice Processing Unique?
Powerful But Simple to Use
Trapeze for Invoice Processing allows organizations to process invoices and AP documents, regardless of their source, format or location. By using CVISIONâs self-learning technology organizations are able to eliminate time consuming invoice templation. Organizations can also streamline invoice matching and validation to reduce manual steps and errors. Other benefits include reducing costly manual data entry by more than 80%. Using CVISIONâs QuickStart program users can start processing files from day one and begin to achieve an ROI in less than 6 months.
Most Accurate OCR in the Industry
Realize the most accurate data extraction by using CVISIONâs highly accurate, multi-engine OCR. CVISIONâs unparalleled data extraction knowledge base allows organizations to leverage more than 50,000 vendor invoices to reduce manual correction from day one. Prep time can be reduced by using advanced auto splitting technology to split invoices and other accounts payable documents accurately. Trapeze enables organizations to dynamically increase data extraction accuracy through our auto-templation and advanced machine learning technology.
Trapeze Enterprise: An Industrial Strength Solution
Trapeze Enterprise edition is specifically designed for large organizations needing an industrial strength solution. Users can process a high volume of invoices and AP-related documents per day. They are also able to monitor the status of invoices in real time. With Trapeze Enterprise, organizations can keep track of every document activity using the Trapeze administrator dashboard audit trail feature. Other features include adding additional document types to further automate your organizationâs AP department. Trapeze Enterprise allows setting up business rules for each document type, configuring complex document processing workflows with ease, including automated classification and routing. Trapeze integrates seamlessly with your organizationâs AP system.