登录查看更多内容

How do you scale and automate invoice capture and extraction across your organization?

由人工智能和领英社区提供技术支持

Invoice capture and extraction is the process of converting paper or electronic invoices into structured data that can be used for accounting, reporting, and analysis. It is a crucial step in the procurement cycle, as it enables faster payment, better compliance, and improved visibility. However, manual invoice capture and extraction can be time-consuming, error-prone, and costly, especially when dealing with large volumes of invoices from different sources and formats. How do you scale and automate invoice capture and extraction across your organization? Here are some tips and best practices to help you streamline and optimize this process.

在这篇协作文章中查找专家回答

由社区从 2 条内容中精选。了解更多

1 Choose the right solution

There are different types of solutions available for invoice capture and extraction, such as optical character recognition (OCR), intelligent document processing (IDP), and artificial intelligence (AI). Each solution has its own advantages and limitations, depending on the complexity, accuracy, and speed required for your invoice processing. For example, OCR can scan and extract text from images, but it may not be able to handle complex layouts, handwritten notes, or multiple languages. IDP can combine OCR with natural language processing (NLP) and machine learning (ML) to extract and validate data from various invoice formats, but it may require more training and customization. AI can leverage deep learning and computer vision to understand and extract data from invoices, but it may be more expensive and less transparent. You should evaluate your business needs, budget, and goals, and compare different solutions based on their features, performance, and scalability.

添加您的观点

Jo?l Collin-Demers

Your Digital Procurement Mentor | I help 10,000+ readers discover how top Procurement teams use technology to deliver results for their business. Join them for free below ??
(已编辑)
举报内容
No solution that "reads and interprets" paper invoices (whether they be scanned or sent via electronic format such as PDF) will generate perfect results as there are different invoice layouts, fonts and terms to consider. Therefore, in addition to the technologies mentioned above, you have to consider how you can minimize the amount of paper invoices you process and maximize the amount of electronic invoices you receive (e.g. cXML, EDI, CSV, JSON, etc.). An electronic invoice has much lower error rates because there is no information interpretation needed. All fields received are mapped to their counterpart in your system. This greatly reduces the amount of errors in the process but requires more effort to setup, vendor by vendor.

已翻译

赞

2 Integrate with your existing systems

Another important factor to consider when scaling and automating invoice capture and extraction is how well it integrates with your existing systems and workflows. You want to avoid creating silos of data or duplicating work across different platforms and departments. Ideally, your invoice capture and extraction solution should be able to connect and communicate with your enterprise resource planning (ERP), accounting, and procurement software, as well as your email, cloud storage, and document management systems. This way, you can streamline the data flow, reduce manual intervention, and ensure consistency and accuracy. You should also look for a solution that supports various input and output formats, such as PDF, XML, CSV, and JSON, and that can handle different invoice standards, such as EDI, UBL, and PEPPOL.

添加您的观点

Eric Weitz

Head of Sales at RELISH
举报内容
In my experience, many modern procurement software solutions, like Coupa, SAP Ariba, and Workday have App Marketplaces featuring prebuilt connections to different invoice capture and extraction apps. This approach ensures integration with your existing system minimizing initial setup and ongoing maintenance costs.

已翻译

赞

3 Monitor and improve the process

Finally, scaling and automating invoice capture and extraction does not mean that you can set it and forget it. You still need to monitor and improve the process regularly, to ensure that it meets your quality, efficiency, and compliance standards. You should track and measure key performance indicators (KPIs), such as invoice volume, processing time, error rate, and cost per invoice, and use analytics and reporting tools to identify and address any issues or bottlenecks. You should also solicit feedback from your users, suppliers, and customers, and incorporate their suggestions and preferences into your process. Moreover, you should update and refine your solution as your business needs and invoice requirements change, and leverage new technologies and innovations to enhance your invoice capture and extraction capabilities.

添加您的观点

Procurement

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

How do you scale and automate invoice capture and extraction across your organization?

1

2

3

1 Choose the right solution

2 Integrate with your existing systems

3 Monitor and improve the process

Procurement

给文章评分

感谢您的反馈

更多Procurement相关文章

更多相关阅读内容