Trends in Finance – OCR technology to automate document management processes!

The reality is that invoice processing automation saves organisations time and money while reducing manual data entry and that is why OCR software is becoming the norm and not the exception on Finance Departments daily routines.

OCR technology plays a major role on this automation, allowing companies to automate their data input processes, saving them time and money while increasing data accuracy levels. That is the reason why CFO's, Accountants, Bookkeepers and all Finance Professionals in general are relying on OCR technology to speed-up invoice processing routines while automating document management processes. 

How are Sage users automating invoice processing routines?

For invoice processing automation, Sage users have available PaperLess software, a solution seamless integrated with Sage 50 Accounts, Sage 200C, Sage 200 Standard, Sage 200 Standard Online and Sage 200 Extra Online, developed by Sage Developer, PaperLess Europe, that offers Automatic Invoice Recognition with two layers of OCR (Optical Character Recognition) technology to extract the relevant data from invoices directly into PaperLess, which will then be sent to other colleagues for approval within the same workspace or directly posted onto Sage.

Take a look at the video to see how PaperLess Automatic Invoice Recognition for Sage works

Scan to Archive vs.  Capture>Process>Archive methodology. What are the difference and what is the right choice for you?

Businesses have been relying heavily on manual invoice processing. Dealing with paper invoices can be time consuming and can cause many human errors with manual data entry. Some companies are still using the traditional methodology Scan to Archive, which means they only digitise invoices for archiving purpose.

Unfortunately, countless manual errors happen because of the old fashion way of processing paper invoices in an organisation. The latest methodology Capture>Process>Archive has become the most efficient way for invoice processing. PaperLess captures your invoice data by digitising paper invoices at an early stage of the workflow process.

Every business deals with invoices, so efficient invoice processing is crucial for running a profitable business. After several months, invoices from previous months may still be pending and without approval. Entering large amount of data from the invoices into your computer can be so tedious that manual mistakes are unavoidable.

For companies that receive many invoices from the same supplier on a regular basis, PaperLess efficient invoice processing creates customised invoice template for a particular supplier. Next time you run automatic invoice recognition on the same supplier, there is no need to edit the accounting lines over and over again.

PaperLess makes invoice processing simple and smart. After invoices have been digitised and edited in PaperLess, businesses can post batches of invoices directly into their existing accounting applications. PaperLess integrates seamlessly with Sage 50 Accounts, Sage 200C, Sage 200 Standard, Sage 200 Standard Online and Sage 200 Extra Online and many other popular accounting applications, so the synchronisation of invoice recognition for Sage happens instantly in the background.

What our clients say about PaperLess

“I personally think it’s great. It allows me to enter invoices without the requirement to manually input all of the data and then refer to archived documents with ease”

Joseph Ryland, UKFast.Net Ltd Finance Director

 “..save £10,000 every year with staff as well as to save employees time spent on processing invoices”

Colin Mayrs, Blair’s Caravans Managing Director

“…the time spent prior to installing PaperLess on processing invoices was lengthy with manually inputting the supplier, description, nominal code and values for each invoice. Invoice recognition does all this for you at a click of a button.”

Kurt Roberts, ACCA MAAT Management Accountant for CPL Training Group Limited

Contact Us

Email: info@paperlesseurope.com

Phone Number: +44 (0) 207 135 2007

www.paperlesseurope.com