In the not-so-distant past, when digital progress was just a utopia, people had to process accounting documents entirely manually. This, of course, cost a lot of time for company employees, and there was also a high risk of errors in spelling the names of suppliers, the payment amounts and other important data.
Over time, technology has advanced to the point where capabilities such as artificial intelligence and intelligent document processing have appeared. Solutions such as automating invoice processing are also among the conveniences in the digital aspect that many companies have already taken advantage of.
What automated invoice processing is and how it works?
The way of life in the 21st century is much different than it was decades ago. This can be said in many ways – health care, communication, technology. As for the last, proof of the digital progress are technological solutions such as automating invoice processing that have changed the “rules of the game” in the accounting business – the work in the departments is streamlined and less prone to mistakes of a banal nature. Here’s exactly how invoice processing automation software works:
- achieving higher efficiency and accurate results – thanks to the software for automatization of the work with invoices, manual entry, management of the volume of both documents was possible, and the time for information processing was significantly reduced. Such advantages are a huge plus for people who manage large businesses and strive to reduce labor costs, but at the same time they want to improve their reputation and be number one in the professional niche;
- automating the entire process from a to z – if you are looking for a comprehensive solution for your business, invoice processing automation software is the best way to achieve it. SmartSoft offers users an innovative technology that has won the interest and approval to the audience – this digital tool is flexible, easy to operate, easy to integrate with other software solutions and designed to be self-learning;
- Invoice Processing Automation from SmartSoft means profitability – when it comes to optimizing company costs, invoice processing automation technology is the key to the desired results. Technology eliminates errors and helps to present accounting information more correctly, which in turn means profit. If employees make a mistake in writing amounts and names of traders, this will lead to more serious consequences, not infrequently also financial losses.
Automating invoice processing is a technology that must be integrated into the structures of every company, regardless of its size. The trend is more and more modern companies to rely entirely on software to streamline the work process covering every step of accounting work. SmartSoft offers numerous technological possibilities, not only technology for working with invoices, but many other options that are worth being used.
Top advantages of technology
As we already said, automating invoice processing was created to help modern business and especially for accounting. The digital tool is known for many advantages, among which are the following:
- Possibility to digitize physical documents in an electronic version – here we find the possibility to transform scanned images into a digital pdf version, which will then be much easier to process and archive. Converting the paper invoice to an electronic version is an amazing advantage that more businesses should take advantage of. In addition, it is also possible to process a large volume of documents at the same time, which is also among the top advantages of the technology.
- Processing of invoices received by e-mail and through a web portal – for the purpose, the software needs to connect to the company email or create a new one. After which the technology extracts the necessary information and adjusts it according to the set settings. The software monitors whether documents in PNG, JPEG or other formats will be received by email, and then transforms them into a PDF version;
- Multi-functionality – the software for automating invoice processing supports many functions, including the classification of invoices/documents, the calculation of damages, data extraction, and self-learning. All these functionalities are an exceptional advantage of the technology that wins the high evaluation of the audience.
A lot can be said in favor of automated invoice processing software, which is defined as a must-have for the modern business. If you are looking for an intelligent solution to manage a large volume of documents, to rationalize the process related to their processing and you want achieve top results related to improving your company reputation, SmartSoft is the way to achieve it.
What is OCR and what are the basic principles?
Optical character recognition (OCR) is an innovative technology that enables the conversion of documents into image type in digital format so that the information can be easily managed afterwards. Finding the fields with text in the image is among the possibilities of OCR – a new generation technology that is entirely in favor of the accounting activity.
