June 29, 2022
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3 Minutes
Every day, your company deals with invoices: sending invoices out to clients, processing supplier invoices and ensuring they are paid on time. If your system lacks automation, invoice processing is likely to be a huge drain on the time and resources of your AP department. Using invoice data capture software to extract data can speed up your processing times and free up your staff to work on your other priorities.
What Is Invoice Data Capture Software?
Invoice processing to extract data is a tedious task that is often completed through manual data entry. When your company receives physical or emailed invoices, one of your accounts payable (AP) team must read the invoice and type the information into your accounting system.
Part of streamlining the work of your hard-working AP team is introducing AP automation wherever you can. Using invoice data capture software to extract data is the perfect place to start. This tool completes data extraction from uploaded invoices, sending it directly through to your accounting software, enabling easy access to all invoice data and eliminating the manual task of entering it.
Who Uses Invoice Data Capture Software?
Small Businesses
If you’re a small business owner who struggles to keep up with vendor invoices as well as the ones you send out, automated invoice processing software can help. Instead of trying to locate and pay paper invoices, simply upload the digital or scanned invoice to your invoice capture software and let it work its magic and extract the information. No more losing track of invoices or forgetting to pay suppliers.
Large Businesses
For large businesses, invoice data capture software is a no-brainer. With the volume of invoices you receive, manual data entry will be a major bottleneck and old-school processes can lose you serious money. Automating the AP workflow is essential if you want to stay on top of all supplier invoices and keep accounts in order and balances paid in a timely way.
AP Teams
If you’re trying to find a way to simplify your team’s workload, investing in invoice scanning software is a great first step. Use the power of the intelligent capture tool’s machine learning to speed up your processes and lighten the workload for your staff.
Many industries use intelligent invoice OCR software to process PDF invoices, as this type of tool is applicable to any kind of company, and favored by both B2B and B2C enterprises.
How To Implement Invoice Data Capture Software
Affinda’s invoice data capture software API seamlessly integrates with most pre-existing accounting systems. All you need is a developer and our API, and they’ll be able to connect the two. Once integrated, you can upload invoices and the information will be pulled through to populate the data fields in your accounting software.
We use REST API, as it’s the most widely used format and compatible with most software that accepts integration. With documentation written for developers, by developers, it’s extremely simple to follow and implement.
Try It For Free
Not sure if you’re ready to commit to the API? You can always try out the invoice data capture software online, and we highly recommend that you do!
To get started, head to https://affinda.com/invoice-extractor/ and follow the instructions to upload some invoices. Affinda’s invoice parser will parse them and show you how it categorised each piece of data. You can then review the results and confirm whether they are correct before downloading the output. This free online invoice parsing tool is an easy, no-commitment way to test out the parsing software and see whether it might be suitable for your company’s needs.
If you want more information, check us out online or give our friendly team a call. We’d be more than happy to answer any questions you may have about the software.
