Why is Document Management Automation with OCR Technology the choice of UK CFOs?
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.
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.
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.
How are Sage users automating invoice processing routines?
The challenge so far was not so much to have relevant data automatically extracted from the invoices but how to upload that data onto the accounting software being used by the company. That is where Sage users got a real advantage thanks to the document management solution created by Sage Platinum Developer Partner, PaperLessEurope, who developed a powerful invoice scanning software that manages all accounts related paperwork from scanning and adding electronic documents to processing them in Sage 50c, Sage 200c, Sage 200 Standard Online or Sage 200 Extra Online.
For invoice processing automation, Sage users have available PaperLess software, a powerful document management software created by Sage Platinum Developer Partner, 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.
Scan to Archive vs. Capture>Process>Archive methodology. What are the difference and what is the right choice for you?
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.
PaperLess integrates seamlessly with Sage 50cloud, Sage 200cloud, Sage 200 Standard Online and Sage 200 Extra Online to make invoice processing simple and smart. After invoices have been digitised and edited in PaperLess, businesses can post batches of invoices directly into their Sage accounting package, with PaperLess automatically attaching all relevant documents to the transaction in Sage so that document retrieval can be done via a simple live lookup directly from within Sage accounting lines.
Full Automation of Emailed Invoices, the new trend among Sage users powered by PaperLess Company Inbox.
PaperLess Company Inbox is a powerful system that enables Sage 50 Accounts, Sage 200 Business Suite and Sage 200 Extra Online users to automatically process all documents received by email by setting automation rules that are applied as soon as documents are received in Company Inbox email, turning document management into a fully automatic, faster and more reliable process.
What our clients say about PaperLess Software
Bénédicte Mermet at Frenger International
UKFast Finance Director, Joseph Ryland
Christine Cram Micronclean’s Purchase Ledger Controller
“…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
Email: [email protected]
Phone Number: +44 (0) 207 135 2007