ABBYY FlexiCapture for Invoices
ABBYY FlexiCapture for Invoices – Sold, Installed and Configured by Verbella
Automated Invoice Processing
ABBYY FlexiCapture for Invoices is a turnkey invoice capture application that reduces inefficiencies, errors, and costs associated with manual invoice processing by eliminating data entry and the physical handling of paper.
ABBYY FlexiCapture for Invoices, when integrated with the Verbella Invoice Tracking Center, addresses many of the most pressing challenges faced by modern accounting departments. Accounting managers and financial directors continuously seek to speed up invoice processing and approval cycles while, at the same time, providing accurate financial data for regular business reporting. Finally, with invoices increasingly being sent in electronic form, an organization must consider processing e-invoices in the same system together with paper-based invoices.
ABBYY FlexiCapture for Invoices allow Organizations to achive
- 400% or greater increase in the number of invoice that can manually be processed by an end user, with 30% reduction in time responding to inquiries.
- Cost to process an invoice are reduced 5-10 times compared to manual processing.
- Overall invoice processing time is reduced to 5 days or less, while taking advantage of early payment discounts and nurturing your vendor releationships.
KEY FEATURES
Business Ready and flexible for the Modern Organization
ABBYY FlexiCapture for Invoices is ready to go out of the box, it offers a quick and easy way to jump start your project. Automate the processing of invoices is almost immediately without a long and costly deployment. ABBYY FlexiCapture for Invoices is pre-configured to identify all the required data fields for invoice processing and with out-of-the-box settings that are easy to adjust for any business. ABBYY FlexiCapture offers built-in country profiles and validation rules to make deployments even faster. ABBYY also trains thousands of invoices using neural networks technology to jump start any Invoices project. ABBYY FlexiCapture is available in the cloud or on Premise.
AI and Machine Learning
ABBYY’s FlexiCapture for Invoices can extract invoice data from within the most complex documents through the use of AI and on the fly machine learning. The solution starts learning by feedback on your documents and additionally increases extraction quality the more you use the solution resulting in more accurate data extraction. Controllable on-the-fly training technology enables immediate data detection refinement directly by a user while reviewing the invoice. Most other companies make use of “black-box”-like technology, while ABBYY FlexiCapture for Invoices gives IT staff full control over the training results.
Purchase Order Matching
ABBYY FlexiCapture for Invoices provides for automated purchase order matching at the line-item level and validation against ERP open PO line-items. This greatly decreases time required for manual verification, and streamlines the invoice processing cycle, and enables straight-through processing for matched documents. The automated matching results can be reviewed and validated by the accounts payable user and adjusted when necessary.
Multi-Channel Input
Organizations today recieve invoices from a varity of different channels, the most common, of course isth traditional invoices that come through the mail and are scanned. But today we are seeing a shift from hard copies, to e-Mail with invoices attached as PDF’s, Invoices that are Faxed in, and in some cases website sites that require you to download your invoice. ABBYY FlexiCapture for Invoices capture invoices at the point of entry, thus eliminating the the conversion to paper and then back into electroinic form. This adds complete transparency to the A/P process.
Archive Ready
Invoice images are converted to compressed searchable PDF files ready for electronic archiving, which facilitates audits, timely response to internal or external inquiries, and ensures compliance with financial document retention regulation.
Intuitive Data Verification
Time spent on invoice reviews and corrections can be reduced to a minimum thanks to an intuitive validation interface, which guides the user through the fields that require attention. Smart value suggestions and other useful features facilitate effective data verification.
Invoice Input
ABBYY’s invoice solution supports multiple input channels like e-Mail, web-based invoice scanning, MFP, FTP, mobile capture, fax, etc.
Classification
Invoice classification technology allows the sorting of documents by types and custom subcategories. The system learns on the fly, enabling fast deployment and higher processing accuracy.
Data Recognition, Extraction and Validation
ABBYY’s invoice solution identifies and extracts data from relevant invoice fields. It supports country-specific validation rules and an invoice matching against master data in addition to PO matching
Data Review and Invice approval
Data approval processes becomes easier thanks to the intelligent validation processess, allowing the end user the ability to validate extracted data and confirm or enter any missing data.
Export and Archiving
FlexiCapture for Invoices can be easily integrated with ERP systems with the use of the Verbella V-Link Connector. Transformation of images into searchable PDF formats meets latest archiving requirements.