Automated Invoice Processing
Where intelligent software meets efficient practices.
What is wrong with your invoice processing methods?
Consider a normal day in your office. Make a count of how many invoices are processed from both suppliers and customers. You can be guaranteed to come across these observations:
- Human error is always a possibility, no matter how experienced your staff.
- When there are high volumes of invoices, manual data entry can take more time than expected/available.
- The process of manual invoice processing is manual, and highly dependent on having qualified staff.
- Time used in matching invoice data to purchase orders and daily filing can be used fir better activities.
For large companies that deal with multiple vendors and customers across multiple locations, the process of validating and recording each invoice is no longer by possible with human-dependent systems.
This bloated, inefficient process can be eliminated
What is Automated Invoice Processing?
Automated invoice is the balm to your company’s accounts and finance departments. A typical manual invoice processing upon delivery include:
- Processing of invoice by capturing relevant data and uploading it to the system.
- Enter the invoice for processing of payments as per company’s policy.
- Filing the invoice for storage for future reference.
- Validating the payments using follow up practices.
Automated invoice processing allows you to automate this entire process.
Invoice Processing -
How It Works
Scanning of Invoices
The scanned PDF can be uploaded into a storage drive or can be an email attachment. IRIS will automatically capture it and send it for processing
Processing and Data Capture
IRIS automatically identifies the invoice and captures the information relevant to your business. This happens in the backend without interfering in other processes
The processed details are sent to your ERP while the document is automatically uploaded and indexed into your DMS. IRIS can also automatically trigger workflows and file the documents in the right structure.