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Automatic Data Capture


We can digitize all your invoices and extract the data, including line items to be sent to your ERP, document management system, accounting software, and more. We can extract all the data for just a fraction of the cost compared to employees entering the data manually. Tap into Royal Imaging’s document scanning services expertise.

The saving ratio is usually from 5 to 10 times lower in cost than entering the data manually. Not including the savings you can make by paying invoices on-time or early and avoiding late payment penalties.

The technology used in the AP Automation/Electronic Invoice Processing realm which is called “Unstructured Forms Recognition” can also be utilized in other departments throughout your organization where applicable to create the same time, error, and cost saving effect.

Accounts Payable

Automating many of the processes enables AP staff to concentrate on more strategic tasks such as finding errors in invoices, overcharges, and more.

 

 

Supplier Relations

When suppliers contact the AP department with queries, the invoice and all other details can be instantly retrieved and the query answered, saving time and removing the cost of calling them back.

 

Key Business Processes

Invoices are coded, matched, or authorized, and become ready for payment much faster than with a manual process allowing all supplier discounts to be received..

 

 

Internal Departments

Authorized users outside the AP department can view the invoice and status in order to answer supplier queries without referring to the AP team, and obtain details of expenditure against specific budget codes or cost centers.

Reduce Data Entry Errors

Our invoice processing solution uses OCR technologies to automatically “read” the invoice and inputs the details straight into your finance system. New suppliers are “fingerprinted” so that on their format is automatically recognized for future invoice processing.

Resolving Discrepancies

Our invoice processing solution means the AP team do not need to chase the procurers to approve order discrepancies. If there are any delays they are automatically escalated to ensure invoices can still be processed within supplier credit terms.

 

Reduce Document Storage Costs

OOur invoice processing solution will completely eliminate other storage costs, whether you are currently storing on- or off-site. You can store millions of invoices for just a few hundred dollars.