Most incoming invoices are received in digital formats by email. While this streamlines an organization’s business process and makes physical storage irrelevant, one challenge remains: How to leverage the data in the invoices? How to access the key invoice data and move it to where it belongs?
The answer to these questions is accounts payable invoice automation software. Each invoice contains key data fields. The data needs to be transferred to the ERP or accounting system.
Invoice capture software, also known as invoice scanning software and invoice recognition software, automates data entry. For electronic formats, Palette’s accounts payable automation software identifies all key data fields in the invoices, extracts the data, and forwards it to your Palette dashboard. For paper formats, intelligent OCR extracts the data from the scanned invoice and sends the data to the intuitive dashboard as well.