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575 University Avenue
Norwood, MA 02062
Copyright 2007 SOURCECORP
All Rights Reserved
Any Document.
Anywhere.Anytime.Any Document.
Anywhere.Anytime.781-762-5800
We Listen.
We Understand. We Deliver.We Listen.
We Understand. We Deliver.Eliminate manual data entry reduces invoice processing costs
SOURCECORP will transform your labor-intensive, error-prone, and costly accounts payable processes into a streamlined operation. Unlike traditional data capture solutions that are template and keyword-based, our process excels by using advanced learning technology to "read" and "interpret" documents for sorting and data extraction. SOURCECORP can process multiple and changing invoice types, extract critical data and line item detail, and export data to existing financial, workflow, and enterprise content management (ECM) systems— significantly reducing the costs associated with document sorting, manual data entry, and validation.
Reap immediate cost reduction benefits
What makes our process unique is its ability to fit into your existing A/P process and provide immediate cost reduction. SOURCECORP will receive all incoming vendor invoices via PO Box, scan and capture the invoice details up front, so that appropriate data can be passed to all relevant areas within your organization. This eliminates redundancy and duplicate efforts while preserving your existing investment in line of business systems and critical business processes.
Advantages of our "SmartAP" Service:
- Eliminate all mail handling labor
- Eliminates manual data entry and reduces invoice processing costs
- Handle more payables in less time
- Eliminates manual data entry errors
- Enables you to avoid late payment penalties and earn prompt payment discounts
Through an easy-to-use, point and click interface, SOURCECORP "teaches" the system to sort documents and extract an unlimited number of data fields such as PO number, invoice date, invoice total, and line item detail. Our system understands and internalizes key data attributes such as format, position, and context, and can automatically process all future invoices that look the same or similar. With supervised learning capabilities, we can significantly accelerate time to production, typically within 90-days.
Typical Data Field Extraction Includes:
Invoice Number
Invoice Date
Invoice Amount
Vendor Name
PO Number
Easily Extract Line Item Detail
Our table analysis and extraction engine eliminates the need for complex coding and scripting. Through the "Advanced Verifier" interface, users simply click on the table in the scanned image and then map column data to appropriate column headings. The next time a similar invoice is presented, all of the information, including the line item detail, is quickly and accurately extracted−eliminating manual data entry. Accurate extraction of line item detail significantly reduces labor costs and makes it possible to automatically compare and validate line item data from the invoice against information in your ERP system.
Typical Line Item Data Extraction Includes:
Quantity
Description
Product Code
Unit Price
Line Total
Verified Data is Securely Delivered to You
Once the extracted data is scrubbed and verified for accuracy, we will securely delivery the data to you usually with 24 hours of receipt of the invoices. The data can then be imported into any ERP system, workflow engine or ECM document management system.
Why do Global 2000 companies choose SOURCECORP for their invoice processing needs?
• Supervised Learning with Advanced Verifier – Eliminates the need to create and manage rules, templates, and keywords. Through a simple point and click interface, users “teach” the system to sort documents and extract an unlimited number of data fields such as PO#, Invoice Date, Invoice#, Invoice Total, and line item detail.
• Advanced Vendor/Supplier Matching – Using the Associative Search Engine (ASE), we can automatically identify the Vendor/Supplier for the Invoice displayed by performing a “best match” of the company name and address to information stored in the customer’s Vendor/Supplier Masterfile.
• Table Extraction Engine – An intelligent engine that extracts tables and associated line item information from Invoices using powerful line pattern recognition technology. The line item detail can be validated or used to collect additional data elements through table-lookups.
• Integration to ERP/Legacy – Using powerful recognition technology extracted data can be imported directly into many popular ERP/accounting systems.
Automated Invoice Approvals with WorkFlow
SOURCECORP's que based workflow system streamlines and automates the entire accounts payable process, from the receipt of invoices and supporting documents through approval and archiving. Our workflow solution offers tools that enable you to scan, classify, and index paper documents as well as capture electronic invoices. Processors, approvers, and managers save time and improve accuracy with tools such as automatic email notifications—and complete integration with Enterprise Resource Planning (ERP) and line of business (LOB) systems. Speed the process of archiving and retaining invoices and supporting documents while ensuring compliance with both government and company policies.
- Nothing to purchase
- Our Unique Service will Digitize Your Invoices and Electronically Read And Extract The Details Right Off Your Vendor Invoices "Including Line Items".
- The Extracted Invoice Data Is Verified And Scrubbed For Accuracy
- The Scrubbed Data, Including Line-Items Is Securely Delivered To You And Can Be Fed Directly To Your ERP System, Workflow or ECM Document Management System
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Software Solutions
Departmental Solutions
Accounts Receivable
Journal Entries
Customer Invoices
Purchase Orders
Contracts
Legal Files
Statements
Quality Records
Customer Files
RMA's
Warranty Records
Shipping Documents
Patient Billing
EOB's
Student Files
Financial Aid
Loan Files
SCANNING SOFTWARE
DOCUMENT RETRIEVAL
WEB BASED SYSTEMS
WORKFLOW SOFTWARE
AUTOMATIC FILE MGR
DATA ARCHIVING
EMAIL ARCHIVNG
INVOICE PROCESSING
RECORDS MANAGEMENT
Did You know...
The average invoice payables cost is closely validated
by IOMA's (Institute of Management and Administration)
"Managing Accounts Payable" publication.
In its Payables Benchmarking Survey… "On average, it costs accounts payable departments between $8.00 - $15.00 to process just one vendor payment...
How many payments is your company processing weekly, monthly or annually?
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