Updated · Originally published
MetaViewer's document management and AP automation solution streamlines invoice captures and document processes for accounts payable. Its advanced document recognition technology captures invoice information to help alleviate the burden of manual data entry. Let’s walk through how it all works.
What is Invoice Capture?
AP automation would not be complete without invoice capture as a key player. Effectively utilizing invoice data management and processing involves the extraction of data from incoming invoices (i.e. paper or PDFs) attached to an email and converting it into an organized, digital format for easy processing and integration with the ERP. This process greatly reduces paper-handling, manual data entry and mistakes, while also boosting efficiency and accuracy in the AP department.
The MetaViewer Touchless Invoice Processing with Intelligent Recognition (IR) function reads and extracts data from invoices and related documents using AI. The process for this functionality is as follows:
Invoices Received: Invoices are captured through email attachments or scanned paper documents and MetaViewer automatically monitors email boxes or shared folders for these captured invoices.
Document Capture and IR: Paper invoices are scanned to produce a digital version, while electronic invoices are directly pulled into the system. Built-in Intelligent Recognition technology then reads and processes the invoices.
Data Extraction and Validation: The system identifies and extracts critical data points from the invoice (such as the invoice number, PO number, invoice date, and dollar amount) using machine-learning and AI. The data is then automatically validated by cross-referencing data with the ERP. The final step involves MetaViewer reconciling the invoice against the purchase order, efficiently identifying discrepancies and flagging them for review. This allows for a streamlined and efficient verification process.
AP Systems Integration: MetaViewer’s Intelligent Recognition functionality automatically updates the accounting solution with relevant data extracted from invoices. This process ensures accuracy by reducing manual data entry errors and saving on significant time that could be spent managing other tasks.
If you want to learn more about MetaViewer’s advanced AI and machine-learning technology, .