Invoice recognition
Manually entering invoices in an invoice processing system has given way to scan and capture invoice information with OCR software. E-invoicing goes one step further and fully automates the process of receiving invoices.
Scan and capture
In the Netherlands, approximately eighty percent of all invoices are still sent as PDF invoices. The information on incoming invoices previously had to be entered manually into a financial system. With the advent of Optical Character Recognition (OCR) software, the information on a PDF invoice can be automatically converted into data.
E-invoicing
E-invoicing stands for sending and receiving invoices in the form of an electronic invoice. An e-invoice is usually an XML data file with a standardized data structure. The advantage of e-invoicing is that the invoice is downloaded directly and automatically into an invoice processing application. Due to the lack of a standard, connection to an e-invoicing network offers a solution.
Invoice recognition software
- An open e-invoicing network such as Basware network or PEPPOL allows suppliers and customers to send and receive invoices in any format desired by the sending and receiving party. This speeds up adoption of e-invoicing dramatically as none of the parties has to change its way of working.
- Alternatively, an OCR solution is put in use. Preferably a solution that not only captures header information, but also includes line-level information.
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