With OCR Smart’s invoice processing capabilities, you can setup your system and start processing within minutes. Extensive functionality allows you to work with form templates or without. OCR Smart creates templates automatically ‘on-the-fly’ using dynamic search data capture. No other software provides such a comprehensive range of functionality. In no time you will see lower costs in your A/P department, more accurate data, and a more efficient environment:
Speed up invoice data entry, while reducing manual labor
Improve accuracy of data entered to your database
Invoice images are available for archiving instead of paper filing
Gain better control over your cash flow
Streamline your A/P department’s operations
Economical to purchase and maintain over time
How the system works:
OCR Smart’s Invoice Processing creates templates that read invoice data on the fly. Just install the software and the system is ready to go. There is really no need to spend hours on setting up the system, it will read invoices out of the box.
Behind the simplicity of this system lays a rich and advanced technology algorithm that took us years to develop. This system processes invoices even without “seeing” them previously. No form templates or laborious
Setup is necessary, templates are created automatically. If you need enhanced recognition it is also possible to create specific templates. This enables the system to process structured forms and unstructured forms under the same roof (system). OCR’s invoice reading system can even extract line items. Each line item row in an invoice is tested for internal consistency to make sure the data is accurate. The system will do the math for you on quantity x price and make sure your results are correct. If not, a quick adjustment allows you to correct any inaccuracies. The capture system gives the user the power to make fast corrections using mouse clicks.
OCR’s data capture OCR technology processes invoices, finds their data fields and gives you their data. The system will automatically apply rules, and present questionable results for verification purposes. Within minutes, your invoice data is exported and ready to be posted to your financial database.
Using the invoice system there is no real configuration after setup since the system creates its own templates based on field variables that are pre defined. The algorithm looks for Invoice fields predefined in the system and extracts their data.
OCR / Processing Function
Once the images are uploaded to the system, our powerful OCR algorithm goes to work. Since there are no defined templates the system will create a template on the fly.
If a similar document goes through the system it will match it to a previous template dynamically created. Any changes or enhancements made by the user will remain for the next similar document. In other words the system will learn and in time will capture data quickly and accurately. Imagine within days the system will learn your invoices and know the exact data you want to capture. The software lets you visually see and define fields, changes are made on the fly with a point and click interface.
Invoice Line Item Detail
The most important feature in an invoice processing system is its ability to capture line item detail in any invoice. The OCR software recognizes that there is line item information without any pre configuration and extracts all the information. You will find that even more impressive is the systems ability to recognize if the invoice is made up of more than one page as well as the ability to detect mathematical errors as in the image below.
Call us today for a demo or a trial of our software (727) 202-9335 or Info@ocrsolutions.com