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The invoice capture process begins with the collection of invoices from multiple business locations and varying sources These sources could include paper, fax, and email in thousands of different invoice formats which are different for every supplier. Here are the methods that we employ to capture inbound invoices.
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Centralized scanning (invoices scanned a central location or service centers)
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Remote scanning (invoices scanned at field office locations)
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Multi Function Peripheral Integration (Copy, Fax, Scan devices)
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Fax or Email server integration
After the invoices are scanned which starts the invoice capture process, an advanced recognition engine is applied to locate and extract the invoice data from the invoice regardless of its format. First, the advanced recognition uses OCR to capture all of the data from the invoice. The data is then analyzed by invoice Knowledge Base algorithms, which “read” the invoice similar to an accounts payable specialist performing a manual data entry process.
The Knowledge Base extraction algorithms are trained using hundreds of sample invoices to search for keywords, format, and location to identify and extract the invoice field data. These extraction algorithms are easily configured by presenting the system with sample invoices documents which allowing it to learn how to extract data, rather than by writing rules or by constructing templates. Without rules or templates the system can adapt to changes in invoice format using an automatic learning feature enabling quick configuration and easy maintenance.
When a invoice format is poorly designed, or receives lower than expected extraction results, the AP specialist can tag the invoice for submission as new learning sample document for extending the learn-by example extraction.
A supervisor can then train the system of the new examples and add them to an existing or new KB continuously improving performance. This provides for increased accuracy over time without the typical overhead of IT involvement.
Advanced Capture Team has built a Knowledge Base from our previous projects. This Knowledge Base allows for an advanced starting point in the extraction project greatly reducing the time and cost to deploy the solution. Once the invoice data has been accurately captured and validated, it is released directly to the invoice workflow software or ERP system. After payment processing is complete, the invoices can be stored locally or exported to one or more document management systems, or archive system.
The Intelligent Invoice Capture Solution offered by Advanced Capture can be purchased by a client for in-house invoice processing, or can be outsourced to Advanced Capture to alleviate the need for client labor and software technology investment. Advanced Capture has partnered with business process outsourcing (BPO) companies to remove the need for in-house invoice scanning and/or data validation requirements. This enables our customers to select the right option based on project requirements, corporate goals, and return on investment calculations.
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