Paysafe Group is a London–based company that delivers a full suite of payment solutions to accept and process payments globally. The company processes millions of transactions worldwide through a full suite of payment solutions including card issuing and acquiring, payment gateways, merchant accounts, fraud and risk, compliance, digital/ mobile wallets and invoicing. At every point in the payment process, the company values its relationships with vendors.
Paysafe conducts business with vendors worldwide, ranging from one-time suppliers to long-term partners. Thousands of invoices are issued every year by vendors in multiple languages and in various form layouts. Like many organizations that manage invoices manually, Paysafe had challenges with lost, unpaid or double paid invoices with no clear workflow between invoice reception to invoice booking and posting. Without a central repository or business process for handling the invoices, there were:
1. No transparency within the invoice status.
2. Multiple handling of the same invoice resulting in ongoing redundancies and wasted costs.
3. Time-consuming and error-prone invoice manual retyping of information from a hard copy or electronic document into the ERP system.
Paysafe wanted to eliminate the data entry process and streamline the accounts payable workflow within the ERP system. Additionally, they wanted to be able to quickly and easily know:
- The status of an invoice within the accounts payable process at any given time.
- When an invoice was received.
- Confirm if a corresponding transaction was created in the ERP system.
- Confirm that an invoice was posted or returned to the supplier due to a deﬁciency.
Paysafe addressed its challenges by partnering with Oracle/Fadata and Soluma d.o.o. to establish a centralized document repository and document management system (DMS) using ABBYY FlexiCapture for Invoices. The goal was to automatically recognize and verify data from scanned and electronic invoices to improve the invoice process. Soluma integrated ABBYY FlexiCapture with Oracle WebCenter Content, allowing operators to manage the optical character recognition (OCR) conversion process and start the verification process from Oracle WebCenter Content directly. The solution entailed providing information about the vendor, invoice language, as well as the capability to assign invoices to operators dedicated to processing invoices in a specific language or foreign alphabet, such as Latin or Cyrillic. A special web verification module developed by Soluma interacted with Oracle WebCenter Content and Oracle E-Business Suite allowing efficient verification and an invoice validation process.
The new and optimized business process consists of the following steps:
1. The capture solution is used to automate the ingestion of documents sent to a dedicated email address used by all vendors. Attachments within emails are automatically downloaded and repeat downloads of the same document are prevented. Immediately after an attachment is downloaded, the document is stored in the common Unified Documents Repository. Document metadata, such as sender email and email subject, are automatically read and indexed. This same process enables Paysafe employees to scan invoices received in hard copy, causing no differentiation between documents that are scanned and documents that are electronically received. The central repository allows each document to be stored without a delay once it is received.
2. Paysafe (Shared Center) employees search the documents in the repository, and decipher which documents are actual invoices and which should not be processed (i.e. a vendor mistakenly sent irrelevant documents to the dedicated email address). This allows the OCR engine to be used only for documents with valid content.
3. For each document sent for OCR scanning by a Paysafe employee, the engine performs zonal OCR in the background and recognizes both the header and line items of the document. During the recognition process, data from the destination ERP system is directly used as reference. The recognition process is efficiently performed regardless of the invoice layout, and without the need to maintain separate templates for every invoice layout, or to ask vendors to adopt a unified invoice layout tailored to the Paysafe software.
4. After zonal OCR is completed, Paysafe employees check the results before the AP transaction in the destination ERP system is created. In the verification screen, employees see both the document and recognized values together with any applicable alerts or warnings. This allows any changes or exceptions to be seen which might otherwise go unnoticed. For example, a vendor is recognized based on its business name and/or VAT number, but the vendor’s bank account number on the document is different from the bank account number stored in the ERP database. The operator is warned that the master data should be re-checked in order to avoid payments to the wrong bank account. Matching purchase order documents is also performed in this phase, assuming relevant information is provided in the invoice.
5. After zonal OCR results are verified based on the recognized and/or updated values, the destination ERP transaction is created automatically using API calls. The relationship between scanned or electronic documents and the AP transaction is recorded at the same time, so a document’s image will become accessible from the transaction UI form as well. During each phase of the business process, regular status updates are sent to the unified document repository, such as “OCR stage completed”, “Verified”, “Transaction created”or “Transaction posted”. All updates can be found and used as search criteria within the document management systems. Any relevant changes made in the destination ERP system, even after a transaction is created, are synchronized with the document management system in order to maintain consistency.
The new solution transformed Paysafe’s invoice processing by achieving three goals:
1) the business process phase per invoice became easily identifiable based on DMS searches; 2) the automated ingestion prevented multiple handling of the same invoice; and 3) zonal OCR sped up the transaction creation process from weeks to days.
Additionally, manual data entry was reduced to the verification stage only, and as a bonus benefit, ERP transactions were synchronized to the DMS with the capability to access documents directly from ERP forms. Furthermore, the Paysafe team recognized the ability to use the same approach for documents other than invoices. A dedicated email address was created for credit card receipts, and using the existing solution and repository, Paysafe was able to process the classification of credit card documents.
Every single AP invoice globally received by Paysafe is now handled using its new solution and the central document repository.