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Why You Need More than OCR for Effective Invoice Capture

Why You Need More than OCR for Effective Invoice Capture

By Business Process Outsourcing, Invoice Processing
OCR-backed invoice capture is being touted as a game-changer in invoice processing, accelerating data collection for faster approval and payment cycles.

However, while automated OCR or optical character recognition has brought about a revolution in the standard invoice management process, it’s not enough on its own to carry out a successful accounts payable operation.

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accounts payable utility bill

Tackling the Challenges of AP Processing

By Financial and Accounting, Invoice Processing

Your accounts payable department is responsible for handling the flow of your business’ finances. Ensuring that the AP process is accurate and efficient allows you to maximize your ROI and maintain a positive relationship with vendors. As a business grows, the inefficiencies of manually processing invoices in-house quickly become apparent – not only is this a slow process, but it also becomes costly to manage. In this blog post, we identify some of the challenges ap processing such as having an overqualified team manage your accounts payables. Read More