The challenge of manual invoice verification
In many companies, incoming invoices are still entered manually, which is time-consuming and prone to error. Often, the subsequent invoice verification is also done manually, which frequently results in additional work. Invoice data often has to be re-entered and reprocessed due to input errors. This manual process often means that it takes so long to post an invoice that cash discount periods have already expired.
Make workflows more efficient
PROXESS Document Reader allows you to automate this process. Incoming printed invoices are scanned on receipt and incoming digital invoices are electronically transferred. Invoices are read via OCR, and the data that is identified as being relevant for onward processing is made available for the subsequent editing and verification process. Connection to downstream ERP, workflow and accounting systems is easily implemented via standardized interfaces. PROXESS Document Reader can process partial and collective invoices, invoices with and without an order reference as well as invoices with and without a goods receipt note or other delivery documents.
Intelligent document reader
Relevant header and footer data, such as invoice recipient, invoice date, invoice number, vendor, net amount, VAT, gross amount, delivery costs and complete item tables, are read from incoming invoices. The identified data is reviewed for consistency, completeness and accuracy. It is verified in accordance with highly intelligent rules and using artificial intelligence. The net, gross and VAT amounts identified on the invoices are checked with the help of mathematical algorithms. The identified data is compared with the master data from the ERP system and quickly corrected. When identifying item data, any incorrect quantity information on invoices with an order reference is detected at an early stage by comparing it with the order data from the ERP system. Empirical data is also used for verification purposes (for example: invoices from supplier 4711 always have the invoice number on the top right).
Autonomous system optimization
All vendors are identified based on a single document definition. This ensures both minimal administrative effort and maximum flexibility compared with diverse incoming invoice documents. It allows the relevant data to be quickly identified, even on new documents previously unknown to the system. This self-learning approach automatically results in ongoing system optimization.
Automated invoice verification and posting
The identified document data is transferred to processing systems such as ERP, accounting, workflow and archiving. For invoices with an order reference and without any order discrepancies, direct account allocation is supported. In the case of “background processing,” invoices are automatically processed, from capturing through verification to posting proposal. This allows you to fully automate your invoice processing and exploit huge untapped savings potential within your company.
Two versions of PROXESS Document Reader are available: the basic version reads information from the invoice header and footer. This usually includes the invoice number, vendor, net and gross amounts and payment terms. The expert version additionally reads and processes the item data on incoming invoices. This includes fields such as item number, order number, quantity, number of units, unit price, discount, etc.
PROXESS Document Reader also allows you to read incoming orders and order confirmations, thereby optimizing your order and procurement system.