Reduce processing costs by 80%
Typical capture projects result in overall processing costs decreasing by 80%1,2. For example, industry research shows that the average cost of invoice processing for automated processes is $15.613. For mostly manual processes, that rises to over $50. Our clients have best-in-class costs of $2-$5 per invoice.
Additionally, you will be able to capture early payment discounts and avoid late payment penalties as your invoices will be processed and ready for payment significantly faster.
How It Works
For business process that begin with paper or have trailing paper documents, we can eliminate a significant portion of your manual QA and data entry effort. We do this by automating the following activities:
- Import from scanners, multi-function devices, emails, fax, web portals, folders and more
- Image clean-up (remove blank pages, correct brightness/contrast, remove noise, de-skewing and more)
- Recognition of the document type
- Separation the documents
- Extract the required data off the documents
- Resolve any low confidence fields
- Upload the data and images to the required systems
Our solutions are based on teaching a machine learning engine with sample images and fuzzy data matching against data available in your systems. This means that implementations are completed in weeks, not months, are more accurate and continue to automatically improve over time.
Most of the fields previously manually keyed will be uploaded without human intervention to your financial system and all images are automatically uploaded to the records management system.
Organisations processing over 100k invoices per year can be typically handled by 1 FTE.
- Open email
- Open PDF attachment
- Manually split PDFs with multiple invoices
- Find and then copy/paste or manually key required data into financial system
- Upload PDF to records management system and key required data again
- Users repair only individual fields that aren’t confidently extracted
- Machine learning means confidence increases over time
The most costly part of Mailroom operations is document preparation. Significantly reduce document preparation time by having our solution automatically recognise and separate document types after scanning. Additionally, for high volume document types, train the solution to automatically extract the required data.
- Open envelopes and remove staples
- Sort through each page and separate into individual documents
- Place each individual document into a tray representing its document type
- Scan each set of documents of a single document type using capture software
- Open envelopes and remove staples
- Scan batches of mixed documents
We evaluate numerous capture technologies and select only the best to be included in our solutions.
We do not use capture solutions that require significant up front and constant ongoing development after implementation due to being template based or having only simple zonal and regular expression matching. Instead we focus on solutions that are driven by training of sample documents, fuzzy data matching and provide ongoing automated improvement.
- The most modern and flexible capture-only technology available
- On-premise or cloud (certified on AWS & Azure)
- Subscription based licensing with unlimited volume and unlimited users
- The most mature capture-enabled business process management platform
- Manage your business process end-to-end including all capture activities
- Ephesoft, The 6 Essential Elements of Advanced Document Capture Technology Whitepaper (June 2017)
- Kofax, Koppens Developments Leverages Kofax TotalAgility to Cut Invoice Processing Times From Hours to Minutes and Gain Unprecedented Insight into Operational Costs (2017)
- Aberdeen Group, Invoicing and Workflow: Transforming Process Automation into Operational Cost Control (May 2011)