Capture any source be it Paper, Email or EDI
Historically Invoices were all paper-based but today most arrive in an electronic format, ideally, a PDF emailed in by the supplier directly from their own ERP platform.
Mi Invoices automated invoice processing software can capture documents from all sources and formats and handle multi-input capture (paper, pdf, email, EDI, XML, scanner, ...).
Where scanning of paper is required, we enable several options based on the invoice scan volumes required.
These include using MDF’s, multifunction devices, which can scan to email for low volume or Adhoc requirements. Or to enable production scanners in mailrooms for high volume customers that require several 1000’s of invoices to be processed.
Image Quality is critical, so modern scanners and capture software have features to help create clean scans, even with difficult documents. Getting a clean image affects extraction rates more than anything else, so it is worth investing in the right scanners and ensuring that suppliers send you clean images.
We do recommend you advise your suppliers to send their invoices by email but this is not always possible or when regulatory controls insist on hard copy invoices being kept.
Mi Invoices can extract all required data either via OCR or utilising XML for embedded PDFs and EDI invoices
The solution has intelligent document recognition optimised for Invoice extraction of both Header, Footer and Line data. The Mi Invoices solution has an embedded OCR and data extraction capability using the leading-edge recognition engine and works on keyword location and field format.
We capture all Header, Footer and Line item details from invoices and the extracted data is then validated against your Vendor Master Data.
The master data is used to drive the procure-to-pay process and is key to the success of invoice automation. Without it, it is difficult for any level of supply chain automation to be implemented.
The use of master data helps to ensure that the procure-to-pay process is accurate and up to date. This includes verifying the accuracy of the data extracted from the invoice and ensuring that the process is compliant and without delays.
Master data helps to streamline the invoicing process by eliminating manual data entry and ensuring that the correct payment process is followed.
Request your personalised demonstration of Mi Invoices our latest cloud-automated invoice processing software, to enable you to ask your specific questions for your business, to understand the benefits and ROI you can achieve.
Utilising a SaaS cloud-based automated Invoice processing solution, see how we can Transform your Accounts Payable Processes.