A supplier creates an invoice in their ERP and generates it as a digital PDF, XML, CSV, Word, Excel, EDI or other electronic format, and then emails it. The invoice is sent to the buyer via a designated email address where automated and AI-driven invoice scanning and data capture software instantly reads the data form the invoice and extracts it into a database.
The invoice capture is fast and 100% accurate, because the electronic file format of the invoice has a data layer that reflects exactly what was input. This digital capture method has a high on-boarding rate by suppliers because the supplier just has to send the invoice to the specified email address and avoids incurring any costs to do so. They may reduce their costs if they switch over from paper and mail.