Process Accounts Payable with OCR
The accounts payable department usually has to handle a lot of paperwork, mostly in the form of invoices. Businesses need to keep track of which sellers and vendors they have to pay. Given the importance of the accounts payable process there is a need to ensure that its results are accurate but without sacrificing speed. With modern technology you can process accounts payable with OCR. Automation software powered by OCR can streamline work with accounts payable.
Automating Accounts Payable
Processing invoices has traditionally been a manual task. It is time consuming and the papers themselves have to be stored away, placing a burden on space. Automation software can process invoices automatically via electronic means. The software is powered by OCR, or optical character recognition. OCR has the ability to read through a document and identify characters such as letters or numbers. The required characters from a document, such as an invoice, are recognized and then extracted. The invoice is automatically processed, with all the necessary fields filled in. Because it is done electronically the file can then be saved onto a hard drive or database, conserving storage capacity.
Working with Automation
The accounts payable process is only as fast as the means through which it is undertaken. Traditional methods such as manual work slow it down in more ways than one, as manual work is also prone to errors.Automation software can process accounts payable with OCR, ensuring quick and accurate results. CVISION Technologies has automation software powered by the most accurate OCR engine available. CVISION products are known for their versatility and dependability. You can download and try out their products for a free trial period.