What Is Invoice Scanning And How Does It Help Businesses?
Invoice scanning is a term that some people are not entirely familiar with. This article aims to address the core questions of what the term means and how exactly it can help a business become more competitive and indeed cost effective.
To a certain degree, the casual reader will probably assume that invoice scanning involves invoice documents being recorded in digital form via the process of scanning. As part of the service provided by companies in this sector, digital mail room, invoice data capture software and accounts payable software services are all part of the same package, in most circumstances.
The key idea behind having the ability to digitise invoices (or indeed farming this ability out) is that costs are reduced significantly by such a process. As anyone who has dealt with paper invoices knows, it can be a massively laborious task. Going paperless is undeniably the way of the future, as paper not only blocks up the processes required in the smooth running of a company, but it also draws a great deal of raw materials and energy out of the Earth in order to produce.
Although going green may not be the primary goal of adopting invoice scanning (the key focus would be money), it is nevertheless a very good side effect and one that maybe very beneficial in terms of public relations.
Companies that offer invoice scanning digitise invoices on arrival. These invoices can then be output to a variety of different digital based formats. It is common for accounts payable systems such as Readsoft, SAP and Oracle to be compatible with these digital formats.
Capture software used in these environments will scan invoices on arrival and extract crucial data from your invoices, these pieces of data might include Purchase Order Number, Invoice Number, Supplier Reference and key Amounts. Once this data has been extracted, it can be output in the required format. In the long term, labour requirements are very likely to be lowered.
Scanning companies might also provide capture software and scanning technology to firms so they can carry out their own invoice processing. These specialists in invoice scanning might also provide their clients with accounts payable software which would enable a given firm to automate their entire accounts payable process. This would include verification, purchase order matching, workflow of authorisation workflow and payment.
If you need to find out more about invoice scanning, the internet offers a great deal of information. Companies that offer such services will be able to tell you more about their particular services in more detail.
by: Anna Stenning