ABBYY, a leading provider of technologies and solutions to action information, and iGuana, a leading Document Management and Digital Archiving Solutions provider for the BENELUX region, are pleased to announce their partnership.
iGuana and ABBYY decided to join forces in an effort to help enterprise-level customers streamline and automate invoice processing for Accounts Payable (AP) departments. The primary goal of the partnership is to integrate two powerful enterprise software platforms into a one-stop-shop solution for automated invoice capture, data extraction, intelligent processing and digital archiving.
The solution offers a significant potential for immediate cost savings and quick ROI. It can change the AP department’s traditional role as a cost centre into that of a profit centre, contributing positively to the organization’s bottom line. By scanning paper invoices at the point of entry, an entirely automated accounting process can be achieved, from initial extraction of invoice data all the way to archiving the documents in compliance with regulations.
Combining decades of expertise in electronic document management, digital archiving and intelligent data capture for a wide range of industry verticals, iGuana and ABBYY are able to address the complex invoice processing needs of enterprise customers in Banking, Finance, Insurance, Healthcare, and other sectors.
The iGuana-ABBYY Integrated Invoice Processing Solution
Processing paper invoices represents a big challenge for organizations. This time-consuming, labour-intensive and often error-prone process can have a significant impact on an organization’s bottom line and ability to successfully compete in today’s fast-paced business environment.
ABBYY FlexiCapture, an Enterprise Capture Platform, powerfully integrated into the iGuana iDM Electronic Document Management & Digital Archiving System, can fully address this challenge. The iGuana-ABBYY Integrated Invoice Processing Solution will enable companies to automatically handle incoming invoices across all stages of the AP process – from digitization/scanning and classification of invoices, data extraction and validation, to release and final booking of invoice data in ERP, accounting software, or any other back-end system.
Invoice Scanning & Data Extraction
All incoming paper invoices are scanned directly into iGuana iDM, a centralized digital archive. ABBYY’s artificial intelligence (AI) based data extraction technology automatically extracts key invoice data (supplier name, invoice number, date, amount, and other details). Built-in country-specific settings ensure automated control of regulatory compliance. Validated invoices are automatically booked in ERP or accounting software.
Invoice Routing & Workflow
Posted invoices can be automatically routed to responsible members of staff for further action. Invoices can also enter a sophisticated workflow based on triggers, user actions and other business rules, including invoice approval, escalation and error-handling. For example, invoices containing specific line items can be automatically routed to select users as part of approval workflow involving specific actions by specific users in a pre-defined sequence. ERP or accounting software is automatically updated with invoice status, such as “Pending Approval”. Full audit trail is available for all individual invoice transactions. These workflow actions can also be performed on-the-go, using the iGuana iDM secure mobile application.
Invoice Archiving
All scanned invoices are indexed, classified within a logical structure and securely archived in iGuana iDM in a legally compliant, revision-proof format that guarantees future accessibility. Users can easily retrieve invoices on demand using a powerful search function and consult all invoices directly from their ERP screen.
Key Benefits
The iGuana – ABBYY collaboration makes it possible to offer enterprise-level customers a simple yet powerful turnkey solution for Accounts Payable Automation, based on a unique combination of expertise in high-volume document processing and intelligent data extraction.
Some of the key benefits to customers include, but are not limited to:
About iGuana
iGuana is a leading provider of electronic Document Management Solutions and Scanning Services in Benelux. With over 30 years of experience in the field, iGuana helps organizations manage all their documents electronically, efficiently and in a legally compliant way. Headquartered in Belgium, with regional offices in the Netherlands, Luxembourg and Cyprus, iGuana offers industry-specific solutions and services to enterprise-level customers and SMBs in the Finance, Banking, Insurance, Government, Logistics, Automotive and other industry sectors, and is a market leader in Healthcare.
For more information, please contact:
iGuana NV
Leuvensesteenweg 633
1930 Zaventem, Belgium
Tel.: +32 2 70 90 100
E-Mail: iguana@iguana-dms.com
Web: https://iguana-idm.com/
About ABBYY
ABBYY helps organizations optimize processes, accelerate decisions, and drive better outcomes with Process AI and Document AI. More than 10,000 enterprises, including many Fortune 500 companies, rely on ABBYY’s 35 years of innovation to turn business data into actionable insights that improve the way we work and live. Headquartered in Austin, Texas, and offices in 13 countries, ABBYY leads the way for smarter agentic automation. For more information, visit www.abbyy.com/company and follow us on LinkedIn, X, Facebook, Instagram and TikTok.
ABBYY can either be a registered trademark or a trademark and can also be a logo, a company name (or part of it), or part of a product name of ABBYY group companies and may not be used without consent of its respective owners.
