Articles
May 1, 2008
Intelligent Document Recognition and Remote Capture - A Winning Combination for Invoice Processing
by Bala Natraj & Bhavik Patel
today
Today, organizations are experiencing change that is not only impacting the structure of their accounting departments, but the way they conduct business as well. Often, organizations have grappled with managing invoice payments but no matter how sophisticated their accounting or processing systems, paper-based invoices and supportive documents create bottlenecks. The big bottlenecks have always been associated with the lack of a standard invoice structure, the need to capture and index varying elements, and with manually depositing the associated checks. Not surprisingly, in geographically dispersed organizations, these tedious and labor intensive processes are magnified and create unnecessary costs, slow processing and a heightened risk of losing invoices.