2 MANUAL INVOICE PROCESSING IS Time Consuming The steps to pay a vendor or supplier include preparation, data entering, coding, authorizing, payment and filing.this is often a process over weeks rather than days. Archiving is cumbersome, as is retrieval of a specific invoice. Unnecessarily Expensive Invoices incur additional costs from the moment they are received. All the handling steps add to the overhead, making an invoice far more expensive than it appears at face value. Vulnerable to Human Errors Even the best of operators makes the occasional mistake. If not immediately rectified, backtracking steals valuable resources. Delays are not unusual (somebody might be absent or too busy), and an invoice might even be mislaid. Still, invoice processing is one of the few areas of administration that most businesses handle manually. AUTOMATIC CAPTURE IMPROVES EFFICIENCY, CUTS COSTS Manual handling of a supplier invoice is expensive.that is why Eyes & Hands INVOICES, in conjunction with an efficient ERP system, may make a substantial difference to your bottom line. YOU GET MAXIMUM SPEED AND SECURITY The basic function of INVOICES is to provide an automatic input from any invoice source into your system for Enterprise Resource Planning, Business Administration, Workflow, et cetera. But you get much more than that: Full on-line interaction with your ERP system means instant validation against any pertinent document in your database. Electronic handling ensures easy tracking of invoices in your workflow, and facilitates simultaneous actions. Electronic images make for simple and efficient electronic archiving and retrieval. The open design of INVOICES allows seamless integration with the ERP system of your choice, and full interaction with any other application you may require. THAT IS EASY TO UNDERSTAND AND TO USE The user interface has the look and feel expected from Windows applications, and is largely self-explanatory. Operator training is accomplished in a couple of days. And, if a question should arise, the extensive on-screen help will provide the answer. The unique learning process of INVOICES eliminates any need of time-consuming layout mapping. IN A FLEXIBLE AND OPEN SYSTEM Most invoices may be interpreted: web or paper, single sided or double sided, black and white or color, letter, legal or A4; any invoice you receive will be passed on to your system. Any number of invoices can be processed; there is no technical limit as long as you have enough hardware and INVOICES licenses. WITH A RAPID RETURN ON INVESTMENT INVOICES provides an effective way to dramatically cut costs while improving the process. ReadSoft customers have reduced their invoice turnaround time from several weeks to a matter of days while realizing substantial savings. The greater the volume of invoices received for payment, the more money you will save by automating the process.
3 INTELLIGENT CAPTURE Eyes & Hands INVOICES reads an invoice just like you do. Once you have told the program which data you require from an invoice (any invoice), INVOICES will find it for you. Swiftly and accurately. It will learn, and recognize, the layout of every invoice, even if you have several thousand suppliers. PRODUCTION-READY INVOICES is a modular, turnkey software solution. It is scalable to meet volume requirements ranging from a small to a large organization. A large number of references are in production in different market segments around the world. ReadSoft s experience in delivering a production-ready solution ensures the shortest possible lead-time to get you up and operational. INVOICES can be purchased and implemented directly from ReadSoft or through one of our many certified partners. Either way, you will have access to all the experience and skilled resources needed to integrate an INVOICES solution into your business. The return on investment is typically seen in the first year and every year in production thereafter means significant savings to your company s bottom line. STRAIGHTFORWARD AND INTUITIVE INVOICES is easy to set up - you don t need to be a computer expert or programmer to use it. The software modules provide user-friendly dialogues where you select and define how to process and run your system. INVOICES can handle any invoice, including color, variable size, multi-line item and multiple page documents. It automatically builds a template for suppliers not previously encountered. The optional Monitor Module, based on a WEB browser interface, keeps track and report on statistics such as throughput, database size, operator performance, job routing, workload balancing, status of queues, etc. The Optimize Module provides an easy means to fine-tune recognition results from the more difficult and challenging invoice documents. CONSTANTLY DEVELOPED Backed by the largest, most experienced R&D team in the industry, INVOICES is continuously being improved to address the needs of a dynamically changing business world. We pay attention to our users. They help us to pinpoint relevant issues and increase the value we offer the market. Thus, new functionality and updates are released at regular intervals. INVOICES Busines rules Database Financial System Accounts payable Purchase ERP System Input Interpretation Verification Output Payment INPUT Paper invoices are scanned. Electronic invoices are imported. INTERPRETATION As the fields are read, they are automatically matched against external databases, table look-ups, business rules and a variety of other userdefined validations. VERIFICATION It is easy to check and correct the captured values, in a userfriendly dialogue. Any changes you make are instantly re-validated. Workflow Coding Matching Authorization Invoice Image Archive OUTPUT When the invoice is validated and complete, the formatted output is transferred to the workflow of your ERP system, and to any other designated destination.an electronic image, for instance, may be entered into your archiving system.
4 GOOD COMPANY Eyes & Hands INVOICES is designed to meet the needs of all users who process a moderate to high volume of invoices. These are just a few of the companies and organization around the world who do business more efficiently and easily with Eyes and Hands. ROLF PERSSON, PRODUCT MANAGER,VOLVO IT Within Volvo, we handle large volumes of incoming invoices, which must be processed in an efficient way, with high demands on performance and stability. The used solution, a combination of workflow, scanning and archiving, allows digital accessibility of the invoices in the entire Volvo world 24 hours a day. The choice of using Eyes & Hands INVOICES for scanning of invoices is something we don't regret. CHRISTER GUSTAVSSON, GENERAL ACCOUNTING CHIEF - SUPPLIER INVOICES, ITT-FLYGT AB Our pre-study showed that Eyes & Hands INVOICES could fulfill all our requirements of an intelligent invoice capture system. On of the great advantages with the system is that the interpreted invoice data corresponds to the facts we need in order to make an arrival accounting. The data is then sent automatically, via a file, to our financial system without any manual treatment whatsoever. STAFFAN WENNBERG, DEPARTMENT MANAGER, TELIA EKONOMISERVICE Through the forming of Telia Ekonomiservice, Telia wanted to create possibilities for coordination and rationalization of certain processes, for instance the handling of supplier's invoices. A method for this was to create an electronic invoice flow, from scanning to payment, including an electronic archive. The great flow of invoices put high demands on the different components in the process, when it came to for example efficiency and stability. Considering our goals, Eyes & Hands INVOICES was the natural choice. ANDERS SVENSSON, INVOICE ADMINISTRATION MANAGER, IKEA In our line of business, value for money is a key success factor, which means that we strive to minimize costs and maximize efficiency in our administration. One part of this was to find the most efficient way to capture the vast flow of invoices within the entire organization. We soon discovered that Eyes & Hands was the natural choice. We at IKEA look for smart solutions at every possible step: design, production, transportation, administration. The customers appreciate our smart solutions when they see the low price of our products! In fact, we all benefit from a smart solution! STEPHEN SKROBALA,VP GLOBAL TRANSACTION SERVICES, ABN AMRO BANK ABN AMRO chose Eyes & Hands INVOICES because its advanced recognition capabilities and work flow design integrated well with the global outsourcing services being developed by the Bank. The features helped to limit the investments in personnel as well as produce quality output that could be applied to other applications. The MIS generated by the system allows the Bank to monitor its performance and remain a top level service provider. ABN AMRO was further impressed with ReadSoft's commitment to continuous improvement and incorporating customer feedback into future releases.
5 ReadSoft is the global leader in automatic data capture, with subsidiaries and distributors worldwide providing customers with support close to home.the company is committed to maintaining its leading position, and has the largest and most innovative product development department in the industry. ReadSoft develops and markets Eyes & Hands FORMS and Eyes & Hands INVOICES, powerful and easy-to-use software products for cost-efficient automatic data capture.
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