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ABBYY FlexiCapture For Invoices Cuts Down On Accounts Payable Expenses

March 11, 2015

Capture Solution Enables Organizations to Increase AP Productivity While Lowering Invoice Processing Costs

 

ABBYY®, a leading provider of technology that helps businesses effectively action information, today announced ABBYY FlexiCapture for Invoices. A turnkey capture solution, ABBYY FlexiCapture for Invoices replaces costly manual data entry with efficient automated invoice processing. By enabling early capture of invoices and centralized extraction and validation of data, it accelerates the payables process, reduces the cost of paying an invoice, and improves visibility into the payment cycle and accuracy of analysis and forecasting.

 

“Businesses are spinning their wheels trying to manage invoices manually,” said Bruce Orcutt, vice president of product management and marketing at ABBYY’s North American Headquarters. “ABBYY FlexiCapture for Invoices is an out-of-the-box solution based on industry-leading data capture technology. We are focused on delivering the best performance and accuracy so organizations can more effectively action information. It allows them to cut down the amount of time and resources needed for AP processes and accelerate decision making.”

 

ABBYY FlexiCapture for Invoices enables early capture of invoices and centralized extraction and validation of data. It supports straight-through processing for PO-based invoices and automatically identifies invoices requiring approval, enabling many processes in the AP chain to be streamlined. Easing these processes allows for greater control and visibility. ABBYY FlexiCapture for Invoices is a standalone module that can integrate with organizations’ existing AP and enterprise resource planning (ERP) systems.

 

Key features of ABBYY FlexiCapture for Invoices Include:

  • Multi-Channel Processing —Invoices are captured using scanners and mobile devices, as well as from fax and email right as they enter the organization.
  • Automatic Supplier and Buyer Identification — Captured invoices are automatically classified into appropriate supplier and purchasing business unit.
  • Data Extraction and Purchase Order Matching —Data required for invoice approval and payment is located on the invoice automatically. Line items on the invoice are matched against line items in the corresponding purchase order.
  • Touchless Processing — Invoices that have passed all validations, can be immediately sent for approval. If they have been successfully matched against a PO and approval is not required, the invoice can be sent straight to payment.

 

Availability

ABBYY FlexiCapture for Invoices is available worldwide. For detailed product information, visit http://www.abbyy.com/FlexiCapture-for-Invoices, or follow the company on Facebook, LinkedIn, Twitter and YouTube.

Media Contact

Marshall Hampson

McGrath/Power Public Relations

Tel:(408)727-0351

marshallhampson@mcgrathpower.com

About ABBYY