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Invoice handling - automate the process

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[fa icon="pencil'] Posted by Lewan Solutions [fa icon="calendar"] September 5, 2012

Recently we have had a lot of requests around invoice processing from our customer. I wanted to share some information on a product that helps businesses reduce the painful process of invoice approval and processing. This is a product called Trapeze that is made by C-Vision. it is an intelligent scanning, intelligent learning solution to help business do just that - process invoices with more accuracy, and at the same time, save money.

Processing invoices, when handled manually, is an expensive and time consuming function for any organization. With an invoice processing system from CVISION Technologies, organizations can process invoices automatically, reducing accounts payable costs while improving both the accuracy and speed of invoices being entered. Being able to process paper-based invoices quickly and accurately is an important element for the success of any organization. As invoice processing costs escalate, organizations implementing an automated invoice processing system can realize financial benefits faster and yield a real, tangible ROI. CVISION's Trapeze for Invoice Processing contains an intelligent recognition server capable of automatically interpreting the relevant information and fields within a paper-based invoice, in real-time. Once the invoice information is extracted, Trapeze can prepare and forward the information for system upload.

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Realize a Measurable ROI

While manually processing invoices has advantages, introducing a tool to automatically extract information can improve accuracy and speed while reducing the overhead of accounts payable. Traditionally, processing invoices has been a manual, paper intensive task. Invoices would be received in the mail, forwarded to the accounts payable department, and entered manually into the AP system. This procedure was expensive, time consuming, and error prone. By decreasing the time spent entering data, employees can focus on building relationships with vendors and negotiating early payment terms. With CVISION.s Trapeze for Invoice Processing, the entire process can be streamlined. Invoices can be handled programmatically by extracting relevant information from the invoices. A process that was previously handled by several employees can now be completed more effectively in a fraction of the time. An automated system could free up a considerable amount of time for employees to work on other projects.

Recognize Data from Invoices

By reducing the amount of time manually entering information, organizations can realize a measurable ROI in a short period of time. The cost of the solution is quickly recouped by the reduction of manual processing costs, early payment discounts, and improved vendor relationships.

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Lewan Solutions
Written by Lewan Solutions

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