Invoice Processing – Automate and Save

Much more time and resources will be saved for organisations throughout the UK when automating and processing your invoices in bulk stages.

Invoice processing - automate and save

Automatic invoice processing and invoice processing software can differ from product to product but they essentially try to achieve similar processes in what they do to improve your productivity and take the annoyance and tedium out of the actual processing.

Automatic invoice processing

You scan your invoices into the system and from then the data is extracted using ADE or Automated Data Extraction. This is essentially reading your invoices then taking and storing the data from them so you don't have to. From then the software uses OCR to read the data on the invoice and translate it to a computer readable format.

Once that is completed, if you have an Enterprise Content Management (ECM) system in place, such as Microsoft SharePoint or Oracle, it can be extracted there, considering the software is compatible with your system.

It's also good to know that software like this is becoming increasingly compatible with many types of scanners, copiers and other devices that can scan the data, which means that there won't be any need to purchase large scale equipment at a huge cost. After all, one of the major points about using an automated invoice processing system is that it saves you money, and that it will. It can also process files previously scanned which are in folders on your system waiting to be processed.

Simple automation of invoice processing

The above process might seem long-winded, but the simple fact is that it won't be of great involvement to you or your staff because the process is mostly automated and, with the majority of systems coming with easy to understand instructions on screen, it's easy enough to manage.

Automatic invoice processing software doesn't actually come at a great cost either.

After the process has been done by us, your digital invoice files are now on a system. These systems are easy to understand easily, also having simple on-screen instructions. The process of finding the correct document would be quicker and easier.

So, when you consider what you'll end up saving with the time taken back, which would have normally been sapped by doing the work manually, as well as a huge increase in productivity, the costs look even more minimal. Invoice processing manually is known to cost companies thousands and thousands each year, money that can be very easily saved by automation.

Other known benefits include a rise in staff morale due to not having to complete as many tedious processes which, in turn, leads to better job satisfaction

For the minimal cost a piece of software such as this can be, it would seem a very worthwhile purchase to consider for those companies that deal with a lot of invoices

PSI: Capture invoice processing from us

Throughout this article we have referred to our own invoice processing software, PSI:Capture, but wanted to remain unbiased. However, PSI:Capture offers all of the advantages above and much more besides, so if you'd like to know more about our invoice scanning service and everything that comes with it, please visit our invoice processing page or get in touch today.

Importance of Invoice Processing and Scanning

The importance of having your invoices processed and scanned gives you and your organisational financial departments great benefits such as reducing costs, real-time cash flow management, work from anywhere, anytime, payments on time, etc. You can begin receiving these great benefits and more from using our Manchester, London, Birmingham and UK invoice scanning services.

The importance of invoice scanning and invoice processing

Invoices are one form of document that most companies deal with on a daily basis. In paper form, these documents can pile up. Depending on how big the company is, these invoices can fill filing cabinets, boxes and folders around the office, or even need to be stored in expensive, offsite document storage facilities. Storage costs and retrieval times can rack up so is there a more productive solution?

Our professional scanning services that capture the data from each individual invoice.

What are invoice data capture services and how does it work?

Put simply, invoice data capture service is the process of scanning your invoices and accurately capturing the data contained in them. The process is simple when you outsource the services but the benefits can be endless. Your company can run more smoothly and save costs at the same time. It isn't often you find a time saving, cost effective, efficiency boosting solution all rolled into one but invoice processing and invoice scanning offers just that.

So, what are the main benefits of using a UK invoice scanning company

Scanning invoices can help you get all of your invoices, accounts payable etc. fully digitised so they can be placed onto a digital document management system. From this system, they can be accessed at the click of a button and shared just as quickly with colleagues and anyone else who needs access to them. Despite how the easy access and sharing, this doesn't mean that just anyone can view your documents. They can be encrypted and password protected for security and peace of mind.

Also, by outsourcing your data capture services to a full cycle document scanning company like Pearl Scan, you don't need to worry about the project and your documents as they will be taken care of from collection right down to the returning or shredding and disposal of documents.

Who can benefit from invoice data capture and invoice processing?

A great big pile of invoices that nearly towers over a woman. Don’t let your paper invoices take over your finance department. Every financial throughout the UK can benefit from out invoice scanning services

As I have already mentioned, most companies deal with invoices on a daily basis and having them digitised rather than incurring high storage costs could benefit them greatly. If your company is full of filing cabinets, boxes and folders filled with invoices, invoice scanning can reduce the clutter and free up some potentially much needed space in the office. Alternatively, if you store invoices in off-site document storage facilities, you can banish those extortionate costs and access your documents without having to request them or pay for the privilege of viewing your own files.

Paying to view your own files doesn't make sense. Invoice scanning and invoice data capture does. Discover more information and the advantages of invoice scanning and processing by getting in contact with us.

A Solution For Better Handling of Invoices

Invoice scanning: Our solution to better handling of invoices

Invoices play a huge role in most businesses' experiences with paper documents and have done for a very long time. These documents need to be stored and accessed for future reference. But what comes with this? The more paper we end up having, the more disorganised the whole thing becomes, even in the best kept and most ingeniously designed of filing systems. Though we've been handling paper for as long as we can remember, it's getting to a point where it's becoming more of a hindrance than it is an aid. This is why we devised a system that will make it much easier and quicker to access your documents when you need them. This process is invoice scanning and invoice data capture and involves the scanning and digitising of your invoices to PDF and other accessible formats. It all starts with the invoice itself, a document that most people should be familiar with. Below is a typical example:

An image highlighting the invoice data. Our invoice scanning services in Manchester, London, Birmingham and throughout the UK capture the data and convert to digital files. You can search efficiently by using invoice data placed in categories

The areas highlighted in red have been done so for a number of reasons;

  • This is some of the more important data when it comes to searching for and retrieving invoices.
  • These areas are where would typically target when it comes to indexing your files to make them easy to find.

Which brings us onto the next question...

What's invoice indexing?

Invoice indexing is the process of marking invoices by certain pieces of information to make them easier to search and find in a digital document management system. Typical examples of this information are:

  • Invoice Number
  • Date of Invoice
  • Name of the company invoiced
  • Salesperson / Sales Team
  • PO Number

However, it is not limited to this. If you wanted the value of the sale instead, this can also be indexed. On top of this we also offer a service called OCR.

What's OCR and how will it help searching invoices?

OCR or Optical Character Recognition, is a process that is completed right after the scanning is done and makes the entire document text-searchable. This means that we wouldn't just be capturing the important data, but also other things you've chosen not to index such as the product purchase, part numbers, quantities, delivery type and anything else that is on your invoices. This can help narrow down invoices when you've done a general search and a lot of results have been returned.

Making Search and Retrieval of Invoices Even Simpler Than Easy

A lot of companies who offer similar services will offer all invoices in a PDF format and leave you to search for them via Windows Explorer. That's fine, but it doesn't give you a system that's as simple and as streamlined as it could be and, if you're going to have your invoices scanned and digitised, it's best to do it right first time. So what makes our system stand out? This is our innovative search and retrieval software Halogen:

halogen-invoices halogen-index-area

This is Halogen's selection area. As you can see it has all of the options listed above enabling us to search the required fields for specific information. The search can either be done by clicking the arrow to access the drop down menu and scrolling through the selections, or by starting to type in the criteria and letting the rest be filled in by the software. For example, if you started searching for 'Mar' in 'Salesperson', it would autofill to the next selection which in this instance would be 'Mark Pearson.'All criteria can be filled before doing a search. You can also use the OCR panel for extended searching or it can be used on its own to search via a text search. In this particular instance we are going to search for the above invoice but we only know the Company Name and we want to know which Salesperson made the sale, the date of sale and the exact quantity it was for. There are many instances you'll come across on a daily basis where it can be useful especially, in this instance, if you file your invoices by date rather than by Company Name.

acme-halogen

The documents found are displayed at the bottom of the software with all indexed criteria on display. In this instance only one invoice appeared but if there were 10 invoices in the system for this particular company, all would display on the bottom 'shelf' and would be selectable.

When compared to rummaging through hundreds, if not thousands, of invoices the potential in this simple but innovative system is there for all to see and will save considerable time, resources and money in both the short and long term.

That's not all! With most invoice and document scanning orders with Pearl Scan, Halogen is completely free of charge. How can you turn that down? If you would like some more information on the invoice scanning service we provide including invoice data capture, invoice indexing, OCR processing or Halogen services we have to offer, please browse our website to see our full range of scanning services or get in touch today. For a free, no obligation quote complete the online form by following the relevant links below.

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Invoice processing - automate and save