One of the reasons why invoice processing is still primarily done through manual means is because previous software had problems identifying the data from the proper fields. The various segmentations and information fields that invoices typically contain tend to confuse software. Although it is easy for human employees to process invoices, it becomes a long and tiresome task at the business level, where there may be thousands of invoices per day. Fortunately there is software available now that is capable of recognizing field data with OCR. With this new capability you can cut down the time required for invoice work.
There are several different fields present on an invoice, such as vendor name, date, the amount due, and other information. The location and structure of this data was beyond the abilities of pre-existing software to process. Modern automation software excels at recognizing field data with OCR. OCR is optical character recognition, a software tool that can convert scanned documents to text editable and searchable files. When you scan invoices, the software uses OCR to identify and recognize important characters such as text or numbers within the fields. Recognizing field data with OCR means that the results are accurate and reliable. With invoices being processed electronically you save time, money, and labor since you can now perform it in less time with fewer employees.
There is now a clearly better alternative to manual data entry when it comes to invoice processing. Whereas previous software performed it inaccurately or in some cases completely failed to do it at all, modern software is more than capable of recognizing field data with OCR. Powered by OCR, automation software can deliver fast, efficient, and accurate results. Invoices can now be processed in a timely manner, preventing late or delayed payments. To get the optimal experience with automated invoice processing you should download a free trial of automation software from SoftWorks AI Technologies, one of the best providers of document capture solutions.