Readsoft INVOICES / Readsoft ONLINE
Invoice automation jump-starts the purchase-to-pay cycle. Invoices may arrive as fax, postal/courier service or e-mail attached PDF documents in large volumes.
With Readsoft INVOICES, instead of your Accounts Payable department dealing with overwhelming amounts of paper or electronic files arriving from various sources, Accounts Payable deals only with the most important thing: the information.
Since the structure and format of each invoice differs wildly from each supplier/seller, it is not feasible to customize a particular template of capture fields for all invoices. Instead, Readsoft INVOICES auto-learns the invoice by automatically examining the whole invoice to identify each field and their corresponding values (e.g. invoice number, invoice date, buyer identity, seller identity, invoice amount, tax (GST) amount, line item descriptions, item codes, UOM, unit prices, sub-totals and many more!)
Depending on the customer’s needs and budget, on-premise solution and cloud-based solutions are available.
Readsoft INVOICES: an easy to install on-premise server for full control of enterprise invoice capture.
Readsoft ONLINE: a cloud-based cost effective solution that leverages the secure multi-tenant Microsoft Azure environment
- Invoice scanning software uses a scanner instead of manual keying. This is faster and less expensive.
- An invoice scanning software make all invoices digital for easy search and retrieval. Remember all the time lost searching for the relevant invoices and purchase cycle documents whenever you are audited? Storing digital documents in a Document Management System will mean almost instant retrieval of all related documents!
- An integration to your ERP system will allow the invoice scanning software to match invoices against purchase orders, lowering the workload on your AP staff.
- Invoice scanning software will give you better control over your AP cycle as every step of the capture process is audited and can be monitored in real-time. No more lost or misplaced invoices!
- Performance reports can be generated based on historical statistics.
- The intuitive user interface of the MANAGER module allows the configuration and setting-up of templates for each document to be scanned/captured. The templates define the fields of data to be extracted from a document while leveraging on automatic capture engines such as OCR for printed text, values in barcode format, check fields even images (e.g. signatures) to be lifted from the document.
- Note: The cloud-based Readsoft ONLINE configuration of this stage is mostly provided by Datamation as a service. The customer only needs to do minimal administration of an on-going invoice processing service.
- The SCAN module interfaces with a high-speed scanner (e.g. Fujitsu enterprise scanner models) to scan the paper documents in batches. Image enhancement capabilities will be used to ensure the quality of the imaging and improve the accuracy of the OCR/barcode reading engines.
- A document thumbnail preview allows the scanning staff to inspect each scanned result for quality and re-scan the document as required.
- Note: The cloud-based Readsoft ONLINE only requires an uploading of the invoice as PDF document via a web-page upload or e-mail attachment sent to a custom e-mail address destination.
- The INTERPRET module is where scanned or imported images/PDF of the documents are processed with the OCR/barcode reading engines in order to extract usable data. This is a background service the does not require any human intervention.
- The VERIFY module is a stage whereby a user will eye-ball examine each scanned document and compare with the extracted values for accuracy. The system will ‘remember’ every identification field and format verification as defined by the user of this module that will be re-used to identify future invoices from the same seller for the same buyer thereby increasing the accuracy and reducing the workload of the human staff.
- Note: The cloud-based Readsoft ONLINE version enables a user to log-in to VERIFY from a web browser from anywhere anytime.
- The TRANSFER module is a background service that automatically exports the scanned document images and the extracted data as CSV, flat-text files, XML, database tables etc. ready to be imported into any third party system for storage/archival and processing. E.g. ERP, Microsoft Dynamics etc.
- This module is a feature available only to the Readsoft INVOICES on-premise server. OPTIMIZE allows the Readsoft server administrator to tweak the invoice profiles for the top 20% of suppliers. This will increase the efficiency of identification and capture for 80% of all invoices processed.