For far too long, accounts payable departments have battled the same old pain points: slow processing, error-prone data entry, and the relentless need for manual intervention. Even with the shift to emailed PDF invoices, the core challenge remained unaddressed - the efficient extraction of high-quality invoice data for seamless automated processing. If you're nodding your head in agreement, you're not alone.
Unveiling the pain points
Here are some of the common pain points that have plagued accounts payable processes and may be all too familiar:
Manually Processed Invoices: A significant portion of invoices received by enterprises require manual intervention. This translates into time-consuming, hands-on processes that slow down your finance team, creating bottlenecks in your workflow.
Limited Data Extraction Capabilities: Outdated technologies like OCR, designed primarily for digitizing paper documents, are often used to extract data from PDFs. However, OCR was not designed for extracting data from PDFs, leading to low-quality invoice data that requires manual human intervention from your accounts payable team.
Inaccurate Data and Exceptions: Manual data entry is a breeding ground for errors, and those errors can have a domino effect. Inaccurate data ripples through your processes, triggering exceptions and throwing a wrench into your accurate forecasting.
Cost Reduction Priorities: Reducing invoice processing costs isn't just a goal; it's a necessity. Our eBook explores how finance leaders are prioritizing cost reduction to streamline operations and boost financial performance.
Supplier Onboarding Challenges: Lack of dedicated internal resources for supplier onboarding can be slow, costly, and a significant barrier to the adoption of e-invoicing – but it doesn’t have to be.
Your key to transformation
So here's the exciting part: our ebook goes beyond these pain points. It unveils the transformative power of AI in revolutionizing invoice ingestion. Discover how cutting-edge AI technology can streamline your accounts payable processes, eliminate errors, and boost efficiency like never before.
With Basware SmartPDF, you'll experience a drastic change in PDF invoice handling in just a few days, transitioning from zero automation to automatically processing the majority of your incoming PDF invoices with high data accuracy.