Impact the accounts payable bottom line. Automate your invoice processing.
Manual data entry creates hidden expenses and inefficiencies inside an accounts payable department. Every invoice that comes into your organization contains data that must be transferred from paper to financial and document management systems. Usually, the task of keying data is dispersed across a department, making it difficult to measure its negative impact. But when employees are keying data, they’re pulled from their core duties. This creates a higher labor cost, because it takes more time to get the important work done. Downstream decisions, such as payment approvals, can also be delayed when information doesn’t reach financial management systems quickly enough.
AnyDoc®INVOICE brings increased speed and efficiency into A/P departments by minimizing manual data entry. The solution automatically captures and processes the data you need from invoices, such as vendor ID numbers, invoice dates, purchase order numbers, line-item descriptions and charges, payment terms, shipping charges, taxes and more.
Once information has been captured, validated and verified, data and images are ready for automatic transfer—on your schedule. Output can be directed to your financial database, ECM, ERP, document management and/or workflow systems. Data can flow to multiple destinations without increasing anyone’s workload.
With accurate invoice information delivered faster, your organization can start the approvals process sooner, providing substantial competitive advantages in reduced labor costs, higher productivity, improved vendor relations and capitalization on negotiated payment terms.
And, when combined with AnyDocREMIT, you’ll experience a complete accounting solution by automating remittances in your accounts receivable department as well.
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With AnyDoc®INVOICE, you can address the issues associated with paper-based systems that inflate costs and slow productivity, including:
Manually sorting documents
Keying data manually into one or more backend systems
Solutions
Miskeying invoice data
Physically routing documents through an organization for approval
Making copies of invoices
Manual cross-checking of line item and invoice totals
Completing a two-way match of invoices to purchase orders
Missing out on early-pay discounts
Filing and retrieving documents
Paying the same invoice more than once
Locating lost or misfiled invoices
Accommodate your accounting processes and rules
—not the other way around
AnyDoc®INVOICE provides hundreds of built-in rules which can be easily implemented to work with your business processes. You can also define your own rules. With AnyDoc®INVOICE, you can:
Check subtotal math (quantity x price balanced to the extended price)
Check columnar math (extended price + tax + shipping + other fees balanced to the invoice amount)
Perform two-way matching between a purchase order and an invoice
Validate a purchase order and its payment status to prevent duplicate payments
Ensure invoice dates are in a valid date range
Verify that vendor terms match negotiated agreements
Confirm proper tax allocation
AnyDoc®INVOICE’s automated table-lookup feature can automatically verify purchase order numbers against information in your financial database to further ensure accuracy.
Perform template-free A/P invoice data capture with AnyApp™ technology.
As part of the AnyDoc®INVOICE solution, AnyApp technology, developed by AnyDoc Software, provides a better way to capture the common data that appears on all your invoices—such as vendor ID numbers or total amount due—but are found in different locations in each invoice format.
You simply define the data fields you need to capture, such as “Amount Due,” or “PO Number.” Then AnyDoc®INVOICE automatically and rapidly scans the entire invoice to find any variation or combination of keywords to locate the data you need. And, AnyDoc®INVOICE will remember where it found the data the next time an invoice from that vendor is processed, making data capture even more efficient.
