Our invoice capture service is ideal for businesses who regularly process invoices and are looking to transform their accounts payable process into an efficient streamlined process.
Collecting your documents on daily, weekly or monthly basis, we will digitise your invoices and capture any required data including date, number, supplier name, address and company information, items, quantities, description and more!
Captured data can be imported into a structured CSV/Excel file for internal analysis. We can either transfer the CSV/Excel file to you via SFTP or upload the data into your internal office finance system for a complete end to end solution.
In today's digital society, we would expect simple accounting tasks such as invoicing to be replaced with accurate, automated processes such as Storetec’s invoice capture service.
However, in reality, thousands of businesses continue to employ staff to complete entry-level accounting tasks.
Not only is this a waste of financial resources, but it can also lead to several other challenges:
Dealing with challenges surrounding the accounts payable process can feel like a nightmare, but it doesn’t have to be!
With our invoice capture solution, you can rely on automated processes which can bring your business several benefits:
We will handle the everyday tasks of importing data into Sage, Oracle or whichever financial system your company uses; meaning you can make payments to suppliers and generate reports without delay. We will even set up a PO box to receive incoming invoices from your supplier's on-going.
Outsourcing your invoice capture service to us removes the risk of overpayments and duplicating invoices, in addition to instilling confidence that compiled financial reports and statements are error-free. We continue to invest in the latest automated solutions, including OCR and ICR technology, to achieve accuracy levels up to 99.9%.
With us handling all basic accounting tasks, your employees can focus resources on important businesses activities. Achieving accounts payable productivity is a critical element in improving business operations and can help meet targets.
We will set up and manage a dedicated PO box for all incoming invoices from your suppliers. Once received, all mail items will be logged onto our internal tracking system.
Mail items will be opened, manually prepared (removal of paperclips/staples) and scanned to the required output, for example, PDF.
Once scanned into an electronic format, our team will begin the process of extracting key data from invoices such as supplier name, date, invoice number etc.
Captured data can be formatted into a CSV/Excel file and transferred via SFTP. Alternatively, we will feed your back office finance system with the data (eg Sage, Oracle, Pegasus).
You may be thinking, how do Storetec capture specific data from invoices? The answer is that we use sophisticated OCR technologies to capture data from predetermined fields, such as supplier name, date, quantity, etc.
OCR is simply the recognition of printed or written text characters by a computer. In simple terms, OCR converts a page or picture into an electronic image. The engine will break down any potential letter shapes, character-by-character, analyse the electronic image, and then translate the character image into text characters. The result is a string of characters and spaces, matched from the database of different font characters held within the OCR software.
If you're looking for a secure and experienced invoice capture provider, you will be pleased to know that Storetec provides its services across the UK and Worldwide.
With a dedicated logistics team, we can collect your archive of documents from any office location or third-party storage provider across the UK or Worldwide. Our weekly collection points include London, Manchester, Birmingham, Liverpool, Leeds, Bristol, Newcastle, Southampton, Oxford and Wolverhampton.
For on-going campaigns, we can set-up and manage a dedicated PO box for your customers and suppliers to return documents too.
Our invoice capture scanning solution has been recognised globally and we have been nominated for and won, various awards over the years. We are proud to have been named by the Document Manager Magazine as BPO/Outsourced Scanning Bureau Business of the year for 2018 2017, 2015, 2014 and 2013.
Our cloud-based document management system FreeDocs also won Records Management Product of the Year 2019.
All documents are digitised in full compliance with British Standard BIP0008 for 'Evidential weight and legal admissibility’. All scanning and capture operations are regularly audited, and we are accredited to a number of frameworks including ISO 27001 for Information Security.
With over 16 years of dedicated testing and development into the latest automated capture solutions, Storetec has become market leaders in OCR and ICR technologies.
At Storetec, we understand the importance of information security and confidentiality. All staff go through a strict screening process which incorporates DBS checks and signing of non-disclosure agreements.
From initial contact to completion of work, Storetec were extremely professional. Proposal for work to be completed was clear and easy to understand with contact maintained during the process from start to finish. We would recommend Storetec to anyone who requires a prompt, efficient service.
Simply let us know the size of your paper archive and let us do the rest
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