Reasons for using an invoice processing tool
The reasons for using an invoice processing tool are simple: it saves you time while improving payment accuracy and reliability. Thus, it is clearly the optimal way of handling payments. Without automated invoice processing software, one person or even multiple people must spend time on the tedious task of entering invoice data into a more organized format. Thanks to invoice processing, employees can now apply their efforts to other important tasks.
How invoice processing works
Invoice processing software is based on OCR, optical character recognition. In order to process invoices automatically, you need to scan the paper invoices that you receive by mail. Then, the software will recognize text within the document by using the optical features of the characters, and data field recognition will be used to separate different pieces of information into a database.
Selecting the best invoice processing tool
In addition to the basic task of data extraction, some OCR tools can perform more complex operations, such as data verification, in which incoming information is checked to ensure accuracy. Also, some document automation programs have varying levels of advanced image processing, which allows them to read even those files that have imperfect image quality. To learn about in invoice processing tool that incorporates all of these features, read about Trapeze from SoftWorks AI Technologies.