In the context of Accounts Payable OCR is extremely valuable as it saves hours of work that is usually spend on manually recognizing and typing data.
OCR technology in Accounts Payable
Imagine not having to manually enter invoice details - with OCR you get a real benefit to help your daily tasks. With the ability to recognize specific invoice components, OCR lets you put the right data in the right place in your ERP system. Matching the invoice with a PO, with the right approver, the correct G/L account and the correct payment terms, your payment process will go from manual to truly automatic. This means that the accounts payable team can handle a large amount of invoices without even lifting a finger – focusing on optimizing new vendors and handling errors.