ABBYY FlexiCapture for Invoices
Streamline accounts payable with turnkey automated invoice processing.
Intelligent, scalable & flexible solution for invoice automation.
What is ABBYY FlexiCapture for Invoices?
Manual invoice processing, like all manual data entry, is prone to human error. Businesses use invoice processing automation technology to ensure that their vendor invoices are paid accurately, efficiently, and on time.
FlexiCapture for Invoices is a turnkey automated invoice processing solution that eliminates the costs, errors, and physical work involved in processing invoices. It automates the capture, recognition, field extraction, and validation of data, making straight-through processing of PO-based invoices a reality.
Why use automated invoice processing?
Faster invoice processing
Compared to manual invoice processing, automated invoice processes can drastically speed up invoice processing time—by as much as 81 percent. This translates into fewer late payments and more opportunities to take advantage of early payment discounts. It also expedites financial close and audit procedures.
Greater accuracy
Intelligent invoice automation uses artificial intelligence (AI) technologies such as machine learning, neural networks, and natural language processing to automate invoice capture, recognition, field extraction, and validation of data. This enables AP departments to consistently deliver accurate, on-time supplier payments.
Cost savings
With less manual effort required to improve the invoice process and cash management, operating expenses go down. Invoice processing software also helps organizations better detect invoice errors such as fraudulent activity and avoid paying duplicate invoices—ensuring that accounts payable delivers accurate amounts every time, and that invoices are only paid once.
Streamlined AP workflow
Invoice processing automation solutions can capture invoice data arriving from various inputs—central and distributed locations. Extracted and verified invoice data (and images) are delivered to the systems that need it—RPA, CRM, ERP, BPM, ECM, and accounting systems—providing an end-to-end, smarter, faster accounts payable automated workflow.
FlexiCapture for Invoices automation use cases
Out-of-the-box invoice processing
ABBYY's invoice processing solution is trained on a huge number of documents. Pre-configured extraction is built to extract key invoice data fields without requiring IT staff involvement and complex configuration.
Integrated solutions
ABBYY smoothly plugs into RPA, CRM, ERP, BPM, ECM, and accounting systems, making end-to-end business processes smarter, faster, and more responsive. We offer free connectors with Blue Prism, UiPath, Laserfiche, M-Files, Automation Anywhere, SAP, and more.
Invoice capture on the go
ABBYY FlexiCapture for Invoices helps shippers to expedite invoicing and payments by capturing invoice data in-cab, the moment it’s received. Shippers use a mobile camera to capture invoice line items and automatically match them to POs, packing slips, and PODs for validation, invoicing of clients, and payment to shippers.
Expense management workflow
FlexiCapture for Invoices has a ready-to-use project to capture receipts from business expenses and is easily customizable to suit your requirements. ABBYY mobile capture provides an easy, convenient way to capture data from receipts for further processing, using an app or mobile website.
Ready-to-go PO processing
Automate purchase order processing with a preconfigured project that contains the fields, rules, country settings, and validation rules required to capture data from purchase orders. ABBYY FlexiCapture for Invoices provides out-of-the box extraction of main fields both in purchase orders and invoices.
How ABBYY invoice processing automation software works:
ABBYY FlexiCapture for Invoices is a key component of a modern accounts payable automation solution. It covers five steps between invoice arrival and posting.
1. Invoice input
ABBYY’s invoice solution supports multiple input channels like e-mail, web-based invoice scanning, MFP, FTP, mobile capture, fax, etc. It ensures identical document processing independent of form or format.
2. Classification
Invoice classification technology allows the sorting of documents by types and custom subcategories. The system learns on the fly, enabling fast deployment and higher processing accuracy.
3. Data recognition, extraction, and validation
ABBYY’s invoice solution identifies and extracts data from relevant invoice fields. It supports country-specific validation rules and invoice matching against master data in addition to PO matching.
4. Data review and invoice approval
Data approval processes become easier with an intelligent workflow approval that includes automated invoice processing, with the possibility of manual verification by the accountant for missing information, and instant posting for valid PO-matched documents.
5. Export and archiving
FlexiCapture for Invoices can be easily integrated with ERP systems, financial applications and databases for subsequent invoice data export. Automated indexing of invoices by key fields ensures fast and easy invoice retrieval. Transformation of images into PDF formats meets the latest archiving requirements.
Automated invoice processing frequently asked questions:
Invoice automation captures, extracts, and validates key data from invoices (both paper and digital) according to business rules. It then delivers the data to information systems such as RPA, BPM, and ERP to facilitate straight-through processing of invoices. No matter the channel that invoices arrive—paper, email, API, MFP/local scanning, mobile device, web-based scanning—all invoices are processed centrally.
Invoice automation can be combined with artificial intelligence (AI) to automate invoice processing workflows for all types of invoices, including paper. Automated invoice processing uses optical character recognition (OCR) to scan paper invoices and digitize their contents. OCR technology, in combination with AI, can understand the context of different invoice components, no matter where they are in the document. Invoice data is automatically extracted and verified, enabling straight-through processing.
Invoice automation can save employees from having to perform manual data entry, freeing them to focus on higher value tasks. It also helps AP departments to avoid making late or duplicate payments. With invoice automation, organizations also save money by being able to take advantage of early payment discounts.
Invoice automation can be used with the ERP infrastructure that’s already in place within an organization. Leading providers of invoice processing software offer free connectors with market-leading solution providers of information systems and accounting systems. This can provide a positive return on investment with low costs and a short time for integration.
Invoice automation software automatically performs a two or three-way match to ensure invoice accuracy. This matching process reduces the risk of invoice fraud if an invoice with an improper amount is received. Invoice automation can also detect duplicated invoices so that invoices are only paid once. Automated invoice processing can provide additional documentation to support audit processes and compliance standards.
ABBYY’s invoice processing software utilizes the latest AI technologies, including machine learning, convolutional neural networks, natural language processing, and robotics. Its award-winning recognition provides unparalleled accuracy with even the most complex invoices, including line item and table data extraction.
Talk to ABBYY. We’ve helped many global organizations increase employee productivity, lower invoice processing costs, and drastically expedite invoice processing time with our invoice processing software. Try out our cloud-based invoice processing service today.
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