What is invoice capture?
Invoice capture replaces the traditional method of manually handling and processing invoices with a technology-driven approach which ultimately relieves the burden from your accounts team, therefore saving money and driving efficiency.
It is the process of capturing data from invoices and either feeding it directly into your finance system or outputting it into a bespoke format to suit your needs. The solution aims to fully automate your accounts payable process, reducing the risk of error and saving time and resources.
You may be asking, how do Storetec capture specific data from your invoices? We use industry-leading Optical Character Recognition (OCR) technology to capture data from predetermined fields, such as name, date, invoice number, etc.
OCR is the recognition and conversion of typed or printed text into machine-encoded text. Put simply, it converts an image of text into actual electronic text that can be used freely in a digital format.
Captured data can then be transferred back to you via your preferred method, or Storetec can feed this data directly into your finance system, such as Sage, Oracle, or Pegasus.
Benefits of invoice capture
Storetec will handle the everyday task of sorting and processing your invoices and importing the data into your company's financial system. This means you can make payments to suppliers and generate reports without delay.
By outsourcing your invoice capture to Storetec, this removes the risk of human error, such as overpayments, or duplicating invoices. In addition, because the process is fully automated and systematically validated, you can have confidence that financial reports and statements are accurate.
Eliminate the labour-intensive process of sorting and processing invoices. Storetec will do all of this for you, saving your employees time which can be spent on other critical tasks.
Storetec's invoice capture operation lends itself to the increasingly popular demand for remote working. Without the need to attend site to receive and process hardcopy invoices, employees are free to work remotely whilst Storetec handles all your invoices, making the data securely accessible from anywhere in the world, 24/7.
Contact our experts today to discover more about our invoice capture solution:
T: 0800 612 4065