Business-Ready Solution for Automated Invoice Capture in an Efficient Accounts Payable Process
ABBYY UK Ltd., a leading provider of document recognition, data capture, and linguistic technologies, announced the availability of its new automated invoice capture and processing solution ABBYY FlexiCapture for Invoices in the UK and Ireland. Building upon the acclaimed ABBYY FlexiCapture enterprise capture platform, this new solution is designed to meet the invoice processing requirements of today’s CFOs, finance directors and accounting personnel.
ABBYY FlexiCapture for Invoices automatically handles incoming invoices from various paper and electronic-based input-channels, enabling organisations to significantly cut operational costs, facilitate compliance and high data quality, and increase productivity through faster processing. From digitisation of documents, extraction, checking and validation of key data, to the release and final deposit of invoice data into accounting, Enterprise Resource Planning (ERP) and other backend systems and workflows – the time and manual work of invoice processing can be significantly minimised enabling accounting personnel to focus on their core competencies.
With the new solution, ABBYY enhances its FlexiCapture product line to address the specific needs of this major business process. Leveraging a comprehensive enterprise capture platform, customers can now add invoices to the list of documents which can be automatically captured and processed such as tax returns, questionnaires, contracts or customer communication.
“We have dedicated intense effort in tailoring the FlexiCapture platform to meet the specific requirements of our European customers, taking country-specific regulations into account. The result is a powerful solution that offers essential functionality for deploying automated invoice processes within existing corporate infrastructures.” says Markus Pichler, Director of the Solutions Business Unit at ABBYY Europe.
Key benefits of ABBYY FlexiCapture for Invoices include:
• Business-Ready Invoice Processing — Finance departments or service providers can immediately start using the solution to replace manual invoice handling. The built-in invoice reader logic and the latest country-specific profiles allow a finance department to extract all relevant data from invoices. The solution can be seamlessly integrated into an existing financial environment, ERP systems and approval workflows within a short installation period. Because it is easy to adjust and customise, system operators can easily adjust the system to meet new internal or legal requirements without additional programming.
• Paper Invoices and e-Invoice Processing in One Solution – Enterprises or service providers can receive both paper-based and electronic invoices and process them in one single stream. Central inboxes can also be easily linked to the system to capture invoice data from e-mails and their PDF or image-based attachments.
• Invoice Validation directly by the Accountant — Accountants are guided step-by-step through a user-friendly validation client which highlights invoice fields that require special attention. Refining and adjusting extracted invoice information becomes a simple and fast click-through process.
• System Training “On-the-Fly” – Invoices from new vendors or new invoice fields can easily be trained directly by the operating personnel upon first occurrence. The training results are used to process all future invoices from this same vendor, enabling higher extraction accuracy and shortening implementation time.
• Automated Data Matching — Purchase order, vendor or business unit matching and validation against ERP master databases facilitates high data quality and speeds up the overall invoice processing cycle.
• Straight-Through Processing — Accounting personnel are able to focus on exceptional cases and other important tasks as correct invoices are processed automatically and unattended.
• Invoice Archival — ABBYY FlexiCapture for Invoices automatically creates electronic archives of invoices facilitating audits, timely response to internal or external inquiries, and compliance with financial document retention regulations.
• Comprehensive and Flexible Architecture – ABBYY FlexiCapture for Invoices can be deployed in a centralised, distributed or mixed environment, and easily extended to serve other document processing tasks throughout the company. The solution is also an ideal choice for companies with multiple business units dealing with dissimilar suppliers or registered in different countries.
ABBYY FlexiCapture for Invoices is available immediately across Western Europe for purchase. The solution will be demonstrated live on ABBYY’s stand at the eWorld Purchasing and Supply conference on 24th September 2014 in London. For further product information or product demonstrations please contact ABBYY at [email protected] or visit http://www.abbyy.com/en/flexicapture-for-invoices/.