Form many customers, initiatives around advanced capture and automated accounts payable can be cost prohibitive. While software licensing costs might fit within budget often times the cost of configuring and administrating the solution is not. The decision to replace a manually intensive AP process typically depends on just how high of an investment will be required to achieve the following benefits:
- Automatically identify and extract vendor and accounting information
- Replace manually intensive data entry with quick verification as desired for QC purposes
- Improve visibility into overall cash management
- Reduce processing time and costs
One of biggest reasons why traditional automated AP solutions require extensive implementation services is that most solutions rely on form recognition so that index values will be correctly located and read using zonal OCR technology. Each time a new vendor signs up, a new template needs to be created so that the software knows what that vendor’s invoices look like and where to look for fields such as invoice number, amount, date, ect.
Portford’s DocuNECT capture platform relies on contextual information from invoices rather than form layout and recognition. A CSV file with vendor information can be used to automatically load DocuNECT’s rules engine with which vendor invoices to expect and what data to extract. The result is a more accurate solution which also provides the flexibility to capture invoices from MFPs, emails, virtual print driver, desktop capture, and sFTPs. Since DocuNECT is completely web based there are no client installations for reviewing and verifying invoices and data. Since DocuNECT has no volume restrictions and is affordably priced customers are able to achieve an immediate return on investment.
DocuNECT is tightly integrated with ApplicationXtender, Documentum, and most of the devices and email systems your organization is using today. Call Portford today to discuss why DocuNECT is one of the most cost effective investments your business can make.
Contact: mailto:minfo@portfordsolutions.com to find out just how affordable implementing an automated AP solution can be for your organization.
