Invoice recognition, a key component of accounting automation, plays a critical role in ensuring seamless and error-free invoice processing. This blog explores invoice item recognition, its importance in improving accuracy, and how Onventis’ intelligent OCR solutions are transforming this process.
OCR stands for Optical Character Recognition and represents a technology for automatic text recognition in digital documents. Such software makes it possible to convert scanned and unstructured documents into editable and structured files. Especially in invoice processing, this advantageous technology speeds up the process immensely.
Efficient and cost-effective procurement of goods and services is of crucial importance to companies. Purchasing organizations face the challenging task of optimizing their procurement processes strategically, tactically and operationally and to achieve their set procurement targets. To meet these challenges, the concept of source-to-pay was developed.
Digitalization in companies is becoming increasingly important and is being driven significantly by digital invoice processing and the use of e-invoices. But what are the concrete advantages of invoice processing and why should companies join this movement?