Automated Invoice Processing in the Cloud - Monitor
  
Attachement Capture
  
Solutions > Document Processing > Invoice Processing
Invoice Processing Whitepaper
  

Invoice Processing - Less fuss, more action

Trade in late payments, lost invoices, and a lack of visibility over manual invoice processing for an automated solution that improves your internal processes and relations with suppliers.

Invoice Processing Automation - concept
  

How to process and pay every invoice on time

ReadSoft’s invoice processing software automates the processes of scanning, interpreting, and filing of invoice data. No matter how invoices enter your organization – on paper or in any electronic form – the software intelligently extracts the important information and validates it according to a pre-defined set of rules. To simplify set-up, ReadSoft offers many different country-specific profiles, programmed with region-specific criteria like VAT rates, date formats, and currency characters. It’s an easy-to-install, out-of-the-box invoice processing solution that’s still adaptable to your business requirements.

Key features and benefits

  • Accurate invoice processing in less time and with fewer human resources  
  • No invoice lost or paid twice  
  • Invoice processing - Check boxesEligibility for early-payment discounts from suppliers 
  • 24/7 visibility of invoice status    
  • Self-learning capture technology continually increases
    recognition capabilities 
  • Timely and accurate financial reports 
  • Seamless workflow integration with SAP, Oracle, and other ERP systems through ReadSoft’s Partners 
  • Proven invoice process automation solution based on best practices gathered from years of
    experience in AP automation

Vendor invoice processing can start instantly…
even during lunch 

Whether arriving in envelopes, by fax, or as email attachments, and no matter what the invoice design, incoming invoices can be routed for approval within minutes. The software handles the data entry and validation so AP staff only needs to get involved for issue resolution.

Accurate invoice processing with less time and work - Video
  

There’s no invoice that is too complex to be paid on time

Invoice automation jump-starts the purchase-to-pay cycle. Instead of your Accounts Payable department dealing with overwhelming amounts of paper or electronic files arriving from various sources, Accounts Payable deals only with the most important thing: the information.

Here's how it works 

Invoice Processing Flow
Invoice Processing - Invoice Capture

Invoice capture

  • Paper invoices are scanned and digitized. E-invoices (XML, PDF, and EDI)
    are immediately ready for interpretation.
  • ReadSoft capture technology reads and interprets all invoice files, regardless of format.
Invoice Processing - Validation

Validation

  • Captured invoice information, including barcodes, stamps, and other supplier-specific data, is categorized.
  • Categorized information is validated against available purchase order, goods receipt,
    and master data.
  • Automated checking of sums, supplier data, dates, tax amounts, and more.
Invoice Processing - Resolution Workflow

Resolution workflow

  • Discrepancies and missing information are flagged for user verification.
  • Exceptions are routed to a workflow for resolution
    (provided by ReadSoft or a ReadSoft partner).
  • Validated invoices continue in the processing workflow.
  • Images of all invoices and their processing status are readily available throughout
    the entire process.

This is how other companies have used our solutions

Invoice Processing - Chiesi - Reference case

“Rapid return on investment” for pharmaceutical company

Find out how French pharmaceutical company Chiesi managed to achieve a rapid return-on-investment in their invoice automation project.

Reference case
  
  
PDF - Reference Icon

Moving from a manual mess to an electronic-only future

Moving away from manual invoicing processes can be a difficult task – and one which many companies are yet to complete. Here's how UK vehicle dealer Dennison Commercials did it, and reduced lost invoices.

Reference case
  
PDF - Reference Icon

“Fast and significant ROI” with invoice processing project

An invoice processing project involving ReadSoft has helped UK wholesale distributor MicroWarehouse achieve a "fast and significant return-on-investment".

Reference case
  
PDF - Reference Icon

Major packaging company quadruples productivity

Quadrupled invoice processing productivity! That is what global paper and packaging manufacturer Smurfit Kappa achieved with the help of a ReadSoft solution.

Reference case
  

Reference cases for all solutions and industries can be found here.

Learn more about invoice processing

Invoice Processing - Four Quarters to AP Efficiency - White paper

Four Quarters to Accounts Payable Efficiency

This paper provides AP leaders with a year-long program of activities for using new AP automation systems to achieve greater AP efficiency. Recommendations are based on experiences with many of Australia’s leading organizations that have automated and streamlined their AP processes.

White paper - Please register to download

  
  
PDF Article Icon

How Accounts Payable Process Automation Works

Accounts payable process automation enables faster processing, a lower headcount, more timely and accurate information, and, most importantly, a positive impact on your bottom line.

Article
  
PDF Brochure Icon

Automating Purchase to Pay: Faster, better, cheaper

Automating the entire purchase-to-pay process delivers significantly greater savings in time, costs, and resources than automating single parts of the process.

Brochure
  
PDF Article Icon

Imaging and PayStream Advisors:
Imaging and Workflow Automation

PayStream Advisors’ 2012 survey data shows that the percentage of supplier invoices traded on paper is continuing to decrease. This report presents the latest adoption statistics, current thinking, best practices, strategies, and KPIs for evaluating and selecting an imaging and workflow solution to meet your needs.

Report
  

Please visit our Resource Library to find out more - here you will find all our brochures, articles, white papers, fact sheets, reports, and other material.