OK, you are an AP Specialist and have received an invoice either by mail, email or handed to you by an anxious vendor at the reception desk. In any case, it is your responsibility to address the issues required for approving the invoice and attaining disposition on getting it paid. Ultimately, incoming invoices always touch sensitive areas of your company: cash flow; reputation; and, internal organizational pressures (“…I need this product or service to complete my project!…”). Therefore, a range of verification steps are needed before the invoice gets paid.
I consider myself lucky to be on the front lines of Orienge talking with organizations struggling with information management challenges, while I simultaneously interface with our consultants, developers and architects. In evaluating corporate initiatives, organizations are not looking for solutions with incredible feature sets, they are looking for immediate benefits to increase overall efficiency … without increasing complexity.
Over the last year, there has been a huge interest in automating the accounts payable and invoice management (AP/IM) process. An important and often discussed component of AP/IM process is invoice capture, with specific attention to automated tools for invoice recognition & data extraction.