Thousands of invoices, paper trails as far as the eye can see, countless hours spent typing data into spreadsheets… Do you ever feel bogged down by manual invoice processing?
We don’t blame you.
Rekeying and templating data for your accounting software is time-consuming and error-prone.
Thankfully, there’s a smarter way forward.
Introducing: Datatron’s Automated Invoice Processing (AIP) service. It’s all your invoices with none of the typing.
Here’s how it works:
Inside our AI-driven service
After you opt into our service, we’ll be in touch to set up an onboarding call. You just need to tell us:
- How many invoices you typically receive per month
- What format you receive these invoices in (e.g. PDF, TIFF, JPG)
- What finance or accounting system you use
- What format you need to receive your data in (including necessary fields of data)
Once we discuss the basics, you’ll receive access to our dedicated AIP web-based portal. Here, you can drag and drop your invoices into a simple box. There’s no need for reformatting or compression. So long as it’s an uncorrupted file, you’re good to go.
Our advanced AI software extracts key information using optical character recognition and translates it into your chosen format. We’ll send you this metadata, which you can then import directly into your financial systems. It really is as simple as that.
In addition to this, we can automate your invoice processing by adding a workflow for authorisation and payment.
Automated Invoice Processing FAQs
We’re sure you have some questions. Take a look at our most frequently asked questions below to see if we’ve already answered them:
- How much will I pay? There’s no capital investment. We charge a fixed rate per invoice. So, if you give us 50 invoices, you’ll pay for 50 invoices.
- What about my paper invoices? You will need to scan your physical documents. If you’d like some help, you can adopt our Virtual Mailroom Service. This allows us to receive, scan and format your paper invoices for you.
- Can I keep the invoice images? Yes, we’re happy to store your processed images in our secure cloud records management service for HMRC compliance. You’ll be able to view these on a read-only basis.
- Can you process certain invoices differently? We can set up different processing workflows based on supplier or value.
- Is there an invoice limit? We can work with a small or large number of invoices. The service is scalable and customised to your unique needs.
If we haven’t answered yours, please feel free to send us a message.
6 benefits of our AIP service
Our new service could revolutionise your invoice workflows for good. Here are six of the biggest benefits of our process:
1. Eliminate invoice rekeying
Give your accounts payable department a break. With our AIP service, you don’t need to lift a finger. (Literally.)
We save you the time and hassle of typing endless fields of invoice data. Instead, you can rely on our AI-powered service and focus on more important tasks.
2. Avoid human error
Spreadsheets are notoriously full of mistakes.
Indeed, even the most seasoned employees fall victim to human error and pesky typos.
With our AI-driven optical character recognition technology, we can extract information accurately. There’s no risk of human error.
3. Cut costs and meet budget needs
Rekeying invoices manually takes time. And, as we all know, time is money.
Our fixed-price service is a cheaper alternative. There’s no capital investment or subscription fee. You pay a fixed price per invoice, helping you to anticipate budget requirements.
4. Reduce your paper usage
Paper accounts for 26 percent of total waste at landfills. What’s more, experts anticipate paper demand to double by 2030.
With our digital service, you can move towards a 100 percent paper-free accounts payable process. As well as reducing your environmental impact, this cuts the cost and effort of printing and filing physical documents.
5. Zero IT management
As we’re providing a service—not a product—there’s absolutely no IT overhaul.
That means there’s no hardware or software for you to pay for or maintain. We do all of that for you.
6. Standardised data every time
No configuration. No templating. No development.
Unlike our competitors, we take away any unnecessary manual steps. All you need to do is import the invoice data we give you to your finance system.
Overcome your invoice processing challenges
The timeframe between receiving invoices and uploading them to your finance systems can be gruelling. With hundreds, if not thousands, of digital and physical invoices to process, it’s no wonder many accounts payable teams feel overwhelmed.
But it doesn’t have to be this way.
With our fixed-price service, you can eliminate tedious rekeying for good. Simply upload your invoices, tell us your formatting needs, and we’ll deliver the data you need.
If you’d like to see how we can streamline your accounts payable department, get in touch. You’re only one step away from smarter invoice processing.
