OCR software saves you a lot of time
Online invoice processing saves you time. On the one hand because with online invoice processing you no longer lose invoices, on the other hand thanks to Optical Character Recognition (OCR). We explain how you can save time with OCR software.
How OCR software helps with digital invoice processing
For years, Optical Character Recognition (OCR) software has been an effective way to read the header and line data from an invoice. Simply put, it is software that scans the invoice and then recognizes the main data of the invoice.
In combination with online invoice processing, OCR ensures that the header and line data automatically end up in the entry screen of the booking.
In theory, a coder only has to check the invoice, and he or she does so by checking that all the data is correct. This is made even easier by automatic error messages, so a coder can see where he or she might need to adjust something.
Manual data entry? That almost completely disappears. Well, almost then.
OCR as a service
For most companies, the scan and recognition software doesn’t work as easily as the situation above outlines.
For optimal recognition, the software needs to be optimized. Think for example of missing or incorrectly scanned data from an invoice. To prevent this a next time, the OCR must be set (manually).
Due to the lack of the right knowledge, time or dexterity, it sometimes happens that users do not get the most out of OCR software.
At Onventis Invoice Processing, we offer OCR as a service for precisely that reason. We arrange 100% recognition, optimization and validation of the invoice. The result: Even faster processing of the invoice.
Hilton Meats Zaandam processes 80% of invoices with OCR
By automatically scanning and recognizing the invoice, it is no longer necessary to print the invoice and check it line by line. The software does that for you.
For Hilton Meats Zaandam this was a godsend. With 23,000 incoming invoices per year (per factory!) it is not really a good idea to manually check everything line by line.
Michael Watson, Head of Financial Administration at Hilton Meats Zaandam, saw the need to save time. Watson: “More than 80% of the invoices are immediately well read and checked by the OCR. In addition, the better the scanner, the better the quality of the line recognition”.
Can you imagine that 23,000 invoices have to be checked manually line by line? That is a time consuming job.
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