Your Data Capture Strategy Matters
In an AP Automation system (our specialty) there are generally four different document & data capture methodologies.
But that’s only part of the data capture equation. Most organizations receive invoices from a variety of different channels and in all kinds of media/formats.
The key to streamlining your data capture process in your ap automation system is to quickly and efficiently make sense of everything incoming. This means developing a strategy that takes into account all of the different sources and documents you receive, and turns them into something consistent and efficient.
We turn everything incoming into actionable data for your back office. Our data & document capturing tool is designed to accommodate large AP operations who receive a wide variety of invoices/payment demands from multiple sources and in many formats.
ICG Webinar Series
Data Capture & Document Assembly Demo
A cornerstone of true AP Automation is to parse everything your department receives and turn it into one predictable (and actionable) format. Here’s how we do it.Watch Video
Take a look at the Pros and Cons for each data capture option:
|Type of Document Capture:||Pros:||Cons:|
|Scan/Data Entry||Least costly to implement; ideal for low transaction volume||Labor Intensive|
|Scan/OCR (Optical Character Recognition)||Reduces time costs and effort over manual data entry processes||Inaccurate data reads can lead to costly QA costs and processing errors|
|EDI||Ideal for larger vendors with standard electronic file format||Limited to larger and/or more IT sophisticated organizations|
|Electronic Invoice Submission/ Alternate Electronic Capture||Includes web invoicing and file uploading; ideal for all size AP operations; best cost-benefit ratio||May have limited use for invoices with many line items|