How can the process be automatic?
Processing accounts payable can be a long and tedious process if it is done manually. That is because you need to have someone there going through the information and entering them into the machine one by one. With the right software, the machines will be able to extract the information that you need and it can compile it together into a format that you want. This is due to optical character recognition technology which enables the computers interpret and understand what is on those invoices.
Benefits of this technology?
Even though almost all companies deal with processing accounts payable, most of them will not have people that are only dedicated to do this job. Companies usually have other people take some time for their normal duties to handle this. This could be costly to the company because now you have employees produce less because they are spending time on other matters. By implementing an automated system, you allow the people to go back to their own jobs because now you only need one or two people at most to oversee the process which is far less tedious than before.
Solutions to this
If you notice that processing accounts payable is taking more time and resources than is needed, then you should consider switching to an automated system. It will greatly benefit you in the long run. Choosing the right software can be hard but if you want a system that can match your requests and can be customized so that your company can get the most out of it, then CVISION's Trapeze is the way to go. It has one of the best OCRs out there which will give you the lowest rate of error. Contact CVISION to learn more about Trapeze.