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ocr invoice scanning software

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AP and Invoice Processing Solutions

We provide a variety of solutions to automate your accounts payable process in order to reduce costs and the turn-around time to receive time-sensitive payments more quickly. These are out of the box, proven software solutions by our trusted partners - not custom creations which haven't been proven. UFC has been offering forms processing solutions almost since their inception. We have done the research necessary to provide solutions which offer out of the box integration with your ERP system including Oracle, SAP, and Great Plains.

How We Can Help With OCR Invoice Software:
We can provide you with a comprehensive Accounts Payable or Invoice processing solution which would reduce your administrative labor expense as well as reduce the time required in the billing cycle. Our invoice recognition software accomplishes the following functions and can be customized to provide an interface to almost any back-end system including FileNet P8.

Automatic sorting of invoices by vendor and extraction of data from each different vendor's format.
Two way match and three way match with your existing accounting or ERP system. With the three-way match the system provides a method to match the invoice, purchase order and packing slip to ensure all three documents contain the same detailed information for each order.

Here is How the Invoice Processing System Works:

Invoice Scanning Process - The invoices are provided to the accounts payable automation system by any of the following methods: Scanning, monitoring of a network folder, email, or fax. This provides a rapid means of scanning invoices into the accounts payable system.
Text Extraction - The invoice processing system automatically OCR's the vendor invoice or purchase order documents and validates these details against your ERP or accounting system. This is the point at which the accounts payable three way match would be done.
Verification of Invoices or Orders - If the invoice processing system is not 100% confident of the values extracted during the OCR process, these are flagged and presented to the user for verification.
Export and Integration - Depending upon your needs, the extracted data and documents are exported to your back-end system. This integration happens behind the scenes to better automate your accounts payable process.

Accounts Payable Software Solutions from UFC:

1. AP Energize Powered by IRIS

AP Energize is powered by Canon's IRISXtract Solution Package AP which provides a template free invoice processing solution. It is an out of the box, rapidly implemented solution - in the range of two to seven days! See the sidebar to request IRIS pricing right away.

Read Moreabout IRISXtract. The IRISXtract pricing is intuitive on a page per year or a one-time container basis, you decide.

See a video of AP Energize Powered by IRIS In Action:

2. AP Energize Powered by ABBYY FlexiCapture

Distributed (Web-Based) or Standalone (for Lower Volume Users on an all-in-one Interface)

ABBYY offers a comprehensive system for invoice processing including out of the box solutions for invoice processing. These provide advanced AP functionality with very little configuration. There are two out of the box solutions available. These can be customized should you require more extensive features. The ABBYY FlexiCapture pricing is on a page per year basis, you only pay for what you need. See the sidebar to request FlexiCapture pricing right away.

Automate your Accounts Payable processes. Out of the box 2 way matching of line items to purchase order. With ABBYY FlexiCapture for Invoices you can:

Lower your invoices processing costs and cycle time by 50%
Cut the time to process invoices by 1 to 2 days.
Centralize your invoice collection from paper mail, email and fax using the advanced invoice recognition system.
Provide line item by item 2-way match to your accounting system (out of the box), and 3-way match with a packing slip (available as an option).
Greatly increase the accuracy of your Accounts Payable by providing automated rules for validation of invoices.
Provide automatic invoice OCR and rendition to searchable PDF, XML, or any back-end system.

Find out more about ABBYY FlexiCapture

See a Short Video of ABBYY Flexicapture for Invoices in Action:

Find Out More about ABBYY Flexicapture

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Disruptive Innovation Part 2: Invoice Processing Software
Summary:
Learn how invoice processing software is rapidly becoming a disruptive innovation that allows companies to automate the tiring process of paying bills.

As we stated in Part One of this series, sometimes when a new technological invention comes along we wonder how we ever lived without the new device or technological innovation. A “disruptive innovation” is a particular category of innovation which creates its own demand. For example, the invention of the automobile created a demand for its purchase when it didn’t exist and the available substitutes were of a qualitatively different nature. In the technology field, the pace of innovation is increasing to the extent that it is commonplace to hear our customers make statements like, “I don’t know how I have lived without this.” Within the past two years, we have been hearing this about a particular type of software application: invoice processing software. This trend towards the adoption of invoice processing software by companies of all sizes has created a trend in which this labor saving software has almost become a commodity much like word processing software.
Invoice Scanning: ABBYY FlexiCapture for Invoices
Looking for Invoice Scanning? Seeking To Increase Efficiency, Save Money in Accounts Payable Invoice Processing and:
- Implement an automated invoice scanning solution?
- Reduce invoice processing costs? A recent study says the average cost of processing an invoice is $1.50 each. What if you could cut this in half?
- Eliminate painstaking manual keying of data from paper invoices and extract data automatically by invoice scanning software?
- Decrease invoice processing and billing cycle time?
- Eliminate easy to make errors in Accounts Payable such as the wrong quantity versus the purchase order?
- Automate your accounts payable (AP) invoice processing system?
- Provide automated 2 and 3 way matching of AP invoices with your accounting or ERP system?
FlexiCapture Invoice Scanning: Ready to Run User Trained OCR Invoice Recognition Software Solution
ABBYY Flexicapture for Invoices is a quick and affordable means of solving your invoice processing system challenges. It is a ready to run automatic invoice processing solution that is built upon ABBYY's FlexiCapture OCR recognition engine foundation. This revolution in document capture software combines the industry leading ABBYY® data extraction engine with a ready to use invoice processing application for a true out of the box, user assisted auto-learning application. AP personnel can scan new invoices and the system will learn the data fields on the fly without the need for administrative support from IT. You can expect to be begin processing documents within a matter of a few hours with a connection to a list of vendor names and addresses in your accounting or ERP system. In addition the ABBYY FlexiCapture price makes the system affordable while providing a rapid ROI. Find out more today.
Automate your Invoice Scanning processes. Includes out of the box 2 way matching of line items to AP purchase order. With ABBYY FlexiCapture for Invoices you can:
- Lower your invoices processing costs and cycle time by 50%
- Cut the time to process invoices by 1 to 2 days.
- Centralize your invoice collection from paper mail, email and fax using the advanced invoice recognition system.
- Provide line item by item 2-way match to your accounting system (out of the box), and 3-way match with a packing slip (available as an option).
- Greatly increase the accuracy of your Accounts Payable by providing automated rules for validation of invoices.
- Provide automatic invoice OCR and rendition to searchable PDF, XML, or any back-end system.
Automated Invoice Scanning | What FlexiCapture for Invoices Does Out of the Box With Advanced Invoice OCR Technology:
FlexiCapture Automatically Extracts Data from AP Invoices Including
- Invoice number and date
- Name and address of the buyer
- Name and address of the supplier. New suppliers can be added from this same interface.
- Delivery date
- Purchase order data including line items, quantity, unit and total price. Includes rules to validate each line item.
- Currency type ($USD, Euro, etc.) and total invoice amount
Are you ready to move one step closer towards a paperless accounts payable invoice scanning system?
See a Short Video of ABBYY Flexicapture for Invoices in Action:
Some Images of AP Invoice Scanning in FlexiCapture for Invoices (Click to Expand):

Invoice Scanning Software - See Why UFC is An Award Winning ABBYY Partner:
UFC was product to accept ABBYY's best Year to Year Partner in November, 2014. Find out why so many companies have selected UFC for their document capture software and invoice processing solutions.
The Importance of Understanding OCR Processing Sequence Order
Summary: The extraction order used in an OCR engine is crucial to ensure the usefulness of the future uses of that data.
In certain instances, a need may arise in a company in which metadata needs to be extracted from a document. This could be the case for documents with a known structure such as an invoice from a certain vendor that always follows a particular layout. In these instances, the metadata may be needed in order to tag the document to facilitate later retrieval especially when the document is committed to a content management system, or the metadata may need to be written into the filename to facilitate locating the document with a simple search in a file system. Finally, the metadata may be needed for use in business systems. For example, a company may desire to extract the invoice number from an invoice and then file the document into their accounting system by using the invoice number as an index value. In the case where only simple index values need to be extracted from a document a regular expression (REGEX) or text search string may be used to extract the text values from a document after the text is obtained from the image file. In those instances when a field name is located and the expected index volume is expected to immediately follow the field name, the ordering of the OCR text is crucial to the successful extraction of the value. Any example will help to illustrate the nature of the problem.
Two Way Match of AP Invoice and Purchase Order
Where The "User" Stands With OCR Technology...
Automating a business process can entail many things - repurposing staff, changing corporate mindsets, and implementing new technology. Although the idea of this can seem daunting, rest assured that it is well worth the investment after you look at the savings and the assurance of business continuity! This article will focus on the user-based technology, in other words, the software that those who are actually doing the work will use.