Companies of all sizes have one thing in common – they all have to pay for the products and services they seek from third party vendors. Many of these companies are challenged with managing their accounts payable (AP) process.
Although electronic invoices (EDI or XML) are a more efficient and reliable format for companies to receive and process through workflows, most companies still receive the majority of their invoices in paper format. This presents significant challenges for organizations because paper invoices, when processed manually, results in inefficiencies, introduces errors, and leads to increased paper handling and storage costs. Furthermore, the average invoice receipt-to-payment time is much longer.
HTC’s Document and Data Capture Solution for AR/AP and Invoices help companies eliminate manual processing and data entry, streamline processing and have the necessary visibility into accounting processes. Automated using a highly efficient content management software, it offers effective:
The content management system can be integrated with the existing ERP system to enable the users to view invoices images directly from the ERP system.
Today, the exhaustive solution offers numerous benefits to the customer including: