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.