Key Capabilities

The solution automatically learns where to find the information of interest on the invoice and creates a knowledge base for each supplier.  Consequently, the extraction of information becomes even faster and more precise with time.

Suppliers and buyers are identified and compared with data imported from your financial system.  The type (general expense or purchase order) is detected, as well as whether it is an invoice or a credit note.  This information is the basis for the automatic sorting that saves significant time and work in the initial stages.

The solution comes equipped with ready-to-use sets of country-specific settings, including VAT rates, date formats, currency characters, etc.  Business logic, for example, to validate dates, VAT, and sums, is also part of these settings.  You can, of course, add or adapt parameters to suit your business requirements.

The solution handles line item details, which is a prerequisite for automatic purchase order matching.  Thus, if you integrate the solution with your purchase and financial systems, you can substancially increase the value of your electronic invoice processing.

The solution can perform a number of tests automatically, for instance:

• Does the sub-total in a line item row correspond with the number of articles and unit price?
• Are VAT rates and amounts correct?
• Is the due date reasonable?

If everything is correct, the invoice may be transferred without further manual interaction.

Where discrepancies are found, invoices must be manually verified.  The solution provides each operator, or group of operators, with a seperate inbox that contains only those invoices that they are authorized to handle.  In this way, work can be distributed to multiple operators, and the risk for unauthorized access is minimized at the same time.