IT terms like automated invoice processing are being mentioned more and more often in professional circles. This is explained by the fact that such a solution is super effective with results that lead to – less payment costs, higher accuracy in invoice processing, less time for data extracting and archiving information, automatic export of documents etc.

In this train of thoughts, implementing software to streamline work activities is a strategic approach with a high success rate in the long term. Smart Soft offers a variety of solutions of this type, including technologies for automatic invoice processing. You will learn more about it in the following lines.

Is there a way to process invoices automatically and what is it?

It’s no secret that processing invoices can be a difficult process with many question marks. How to systematize your work to make it more effective, what to do to avoid errors in information processing, how many people are needed in the accounting department to make work run smoothly… Sounds familiar, right? Well, the big question is what to do to facilitate to optimize do workflow, which in large companies is accompanied by a large volume of documents such as invoices. Here are the answers:

• invoices are a document that describes the purchase or sale amount, as they are of fundamental importance to the profitability of any company – if not processed correctly, this can lead to negative consequences for the company. Loss of money, damaged reputation, fewer customers and more negative feedback – is this what you want for your business? Have in mind that the manual processes were the only option in the past but today they have been replaced by automation;
• the latter is considered as a top option for companies that want to make accounting and administration work easier – with such solutions, the success of the organization will not be a chimera, but a reality that can be easily accessible. The Smart Soft’s team shares that automated document processing is a way to improve the work cycle without relying solely on physical labor. In addition, technology also helps to free up internal resources;
• OCR technology (optical character recognition) is a game-changing tool. Thanks to it, even scanned invoices can be processed with the desired accuracy, but more importantly, the process happens in a very short time. It is important to note that from the moment the document enters the system, it becomes an object of automatic analysis and extraction of information from the key fields that are set in advance;
• automatic invoice processing software is an investment – intelligent solutions such as the software of Smart Soft have been transformed into a mandatory condition for large and small companies that are ready to invest in technologies with the aim of streamlining the work process. When invoice processing is automated, the digitization of physical documents becomes a fundamental step, as the document storage is much more reliable;
• another possibility of the technology is the processing of different types of files – the format can be JPEG, TIFF, PDF, GIF or PNG, but in all cases the final results will be flawless. This is considered another advantage of the software, which has the potential to remove inaccuracies if they are found.

Finding text in images and recognizing different characters are among the top advantages of Smart Soft technology, which is a good solution for companies looking to become more successful. The trend is that over time, IT technologies and AI will almost completely replace manual processes related to document processing. This will save serious salary costs and improve accuracy.

Main advantages of Smart Soft’s software for automatic invoice processing

Maybe you already understand why and how to use Smart Soft’s technology for automatic invoice processing. It turns out that the principle of operation of the technology is simple – when a document is entered into the system, it is automatically analyzed, and then key information is extracted. This saves a lot of time and valuable resources for the company, which can then invest in other areas such as developing new business strategies, advertising, etc.

Classification is also an integral part of automatic document processing. Before the process starts, it begins with identification of the data, which for invoices is in an editable format, and for other documents – in another format. Once it becomes clear what the type of information is, we move on to the real part, namely the classification. For this purpose, specially developed algorithms are used that help achieve excellent results during this process.

Final words

In a world where digital progress is around every corner, it is more than important to use IT solutions such as those for automatic invoice processing. Smart Soft offers excellent options for streamlining work processes without costing the company a lot – the only investment is for the software purchase, and the rest is history…