Invoice scanning and data capture can be a cost-saving solution for businesses. In the current financial climate, we’re all looking for ways to reduce costs, so here are a few facts about how scanning your invoices can save your organization money.
Businesses process hundreds or thousands of invoices and financial documents on a monthly basis, spending extensive time on manual data entry and processing. In large organizations invoices often get lost and can be sent to multiple departments to resolve, if no purchase order is provided. This can create a massive paper trail, slow down the payment process and cause bottlenecks for your business. If this sounds familiar, consider digitizing your invoice imaging and accounts payable documentation on arrival.
Invoice scanning software can help free valuable office space, removing paper archives from your organization. Just think how much of your office space is filled with invoices? Digitize your financial documentation and re-use that costly office space for core business purposes.
Invoice scanning module enables businesses to scan any invoice in any format. Invoices come in a multitude of formats, layouts and styles, but with invoice scanning all of these can be effectively scanned and processed. The software can cope with invoices in multiple languages, currencies and will adhere to specific tax and financial rules; all helping to improve business performance and ROI’s.
Have you considered how much invoice processing is costing your business? It can cost £20 just too manually process one invoice and if you’re going through thousands of invoices per month, this can soon stack up. Invoice scanning and process automation can help to significantly reduce your costs.
There are a number of devices capable of recording, copying and storing your documents, invoice scanning and data capture. Which best suites your purpose depends on the use you intend to put the information to and the system requirements have. Invoice Scanning, useful for the retail and accounting sectors, these devices make recording and processing of financial transactions easier and produce electronic versions of proof of delivery, dispatch and purchase. Invoice scanning equipment can be programmed to automatically recognize common fields such as purchase amounts, VAT details and customer information.
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