With the recent advances in technology, the information contained in your purchase invoices can now be captured and read. This data can then be structured in such a way to feed and update your accounting software. This removes the need for laborious and time-consuming data entry by your purchase ledger team.
What is Invoice Scanning?
Invoice scanning, also known as invoice processing or invoice capture, leverages cutting-edge technology to convert paper invoices and receipts into digital format. At Storetec, we utilise industry-leading Optical Character Recognition (OCR) technology to capture data from predetermined fields, such as name, date, invoice number, etc. This digitisation process allows for seamless integration with your accounting software, eliminating manual data entry and reducing the risk of errors.
How to Automate the Accounts Payable Process?
Automating the accounts payable process is essential for improving efficiency and reducing manual errors. Our Invoice Processing service streamlines the process by capturing data from invoices and receipts, structuring it to feed directly into your accounting software. Common uses of our service include:
- Custom exports of captured data interfaced directly into your accounting system, such as Sage, Oracle, or Pegasus.
- Scanning archives of invoices to save space and allow quick and easy access from any location.
- Scanning paper invoices ad hoc with our digital mailroom service, capturing and extracting data to update your accounts systems.
By outsourcing your invoice scanning needs to Storetec, you can eliminate the labour-intensive process of processing invoices and data entry, saving time and resources while reducing the risk of error.
Conclusion
Storetec’s invoice scanning solution offers a comprehensive approach to streamlining your accounting processes. From capturing and structuring data to integrating seamlessly with your accounting software, our advanced technology simplifies the accounts payable process, allowing you to focus on growing your business. Ready to streamline your accounts payable process? Contact our team today to learn more about how we can help. Read our blog to learn how your accounts payable department can master the month-end close.
