Manual accounts payable processing can cost you a significant amount of time and money and this cost can rise alarmingly due to errors. This labor intensive process results in costly and time-consuming exceptions and delays.
Element3 Solutions automate the process of invoice scanning, invoice data extraction and classification. Our solution provides recognition of data on scanned paper or PDF invoices, followed by validation, sorting and archiving to significantly speed up your accounts payable process.
Intelligent invoice recognition
Line-item and header details are captured.
Matching with Purchase Orders
Compares the invoice data with the corresponding PO and highlights discrepancies.
Can be easily configured to fit a specific business process by adding new fields and rules.
Two OCR engines
A voting scheme increases confidence levels.
Documents from any source
Paper, scanner, PDF, email, database, web service.
Additional scanning, processing, verification and export stations can be added as needed.
Reduces costs by decreasing the amount of manual labor required to type in document data.
Improved Cash Management
Take advantage of early payment discounts and avoid penalties
Reduced Error Rate
Strong validation rules help avoid costly human errors.
Lets your staff focus on creative tasks.
Identifies outstanding liabilities and highlights AP performance.