Laserfiche Smart Invoice Capture uses machine learning technology to capture information from any invoice, in any format, without requiring custom invoice templates. Available in Laserfiche Cloud, smart invoice capture used alongside existing process automation capabilities will enable more streamlined accounts payable solutions by reducing costs, improving efficiency and minimizing fraud. It is a new type of capture profile that is prebuilt and can be called upon directly as part of workflows for more streamlined end-to-end solutions.
Key benefits of the smart invoice capture feature as part of an overall AP processing solution include:
• Accurately capture invoice information: Easily extract common invoice information including invoice date, PO number, invoice number, and total due.
• Faster ROI: Implement AP solutions more quickly without requiring custom design effort to recognize invoices of different formats.
• Boost productivity: Minimize error-prone data entry by automatically pushing invoice data to third party applications using workflows and Robotic process automation (RPA).
• Protect against fraud: Automatically validate invoice data against previously approved PO
s to identify any discrepancies.
• Improve cash flow: Shorten payment cycles and avoid late fees by automating reminders and
streamlining payment processing
The commercial release is targeted for April 2020, as part of the Laserfiche Cloud 2020.2 release. The schedule for Laserfiche on-premise has not been set. Smart invoice capture will be available as an add on charge based on the number of invoices processed.
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