ABBYY’s capture solution for Accounts Payable is designed with great attention to the needs of accountants and controllers, and with the goal to address challenges they face in AP automation and optimization initiatives. It is aimed to reduce the amount of manual operations and administrative efforts involved in the processing of invoices and allow accounting staff to focus on strategic activities such as analysis, planning and forecasting.
Better budgeting and forecasting
Higher operational efficiency
Governance and compliance
Montgomery County Government
Montgomery County Government has employed intelligent, automatic form capture solution from ABBYY to reduce manual work in the AP department and avoid inaccurate, time-consuming scanning of more than 10,000 timesheets twice a month.
ABBYY’s multi-language capture solution supports invoices from many countries and brings great cost reduction to multinational organizations that have a shared service center for AP. With the choice of tools for centralized mailroom-type capture and ad hoc web-based capture, the system can be configured to meet existing habits and procedures in different branches of the company and effortlessly bring all invoices into the central processing flow.
The below diagram provides a high-level overview of the role of invoice capture in the AP workflow.
Submission of an invoice to the capture system (either from a scanning device if the invoice is paper-based, or from an electronic file or an email message) initiates the automated process of capturing and validating data from the invoice. Validation can include matching the data against contracts, purchase orders and packing slips, verifying the vendor in the ERP system (SAP, Oracle, Sage, Microsoft Dynamics, etc.) and checking compliance against internal business rules. Compliant invoices that match with purchase order and delivered goods can be paid automatically, in a so-called “touchless” or straight-through process (STP). Exceptional invoices are routed to the approval or exceptions handling workflow.
Centralized processing of all paper, TIFF or PDF invoices has an additional benefit of transparent monitoring that helps identify bottlenecks and further improve the operational efficiency.
ABBYY Invoice Capture solution is powered by advanced technologies that are developed, patented and offered exclusively by ABBYY. They include award-winning optical character recognition technologies that convert images and photographs into electronic text, as well as intelligent data capture and classification technologies for extracting data from forms and documents of virtually any type and complexity. ABBYY’s core technologies are supplemented by workflows addressing specifics of the AP business process such as invoice approval, rules-based routing, escalation and exceptions handling.