Accounts Payable Automation
For organizations handling a large volume of invoices daily, introducing an automated accounts payable system can quickly impact the corporate bottom line in a positive manner. The cost of handling an invoice manually can vary by company and by invoice; however, industry estimates suggest the cost to process an invoice is as much as $40 - $50 per invoice.
As invoice processing costs escalate, an automated invoice processing system can realize financial benefits faster and yield a real, tangible ROI. By replacing manual invoice processing with an automated invoice processing system, companies can recover their cost in a short period of time.
CVISION’s Trapeze offers a solution for automated invoice processing. Trapeze contains an intelligent recognition server capable of automatically classifying and interpreting the pertinent information and fields within an invoice, in real-time. Through automated invoice recognition, manual intervention is drastically reduced. Once the invoice information is extracted, Trapeze automatically validates each field. To further facilitate automated data entry and processing, the Trapeze system can reconcile the invoice information with corresponding data in a company’s business or accounts payable system.
Benefits of Trapeze Automated Invoice Processing:
- Dramatically reduces AP costs compared to manual invoice processing
- Improves data quality and reduces human error
- Faster Invoice Processing
- Organizes invoices for improved Accounts Payable data quality
- Improves invoice processing throughput & accuracy by eliminating human error
- Automatically validates invoice information with the AP system