Data is the new oil. A frequently heard credo in business. Data enables automation. To speed up and improve invoice processing, the invoices will have to be processed and stored in the form of standardized data files.
Paper invoices, PDF invoices, but also electronic invoices, or invoices that are already delivered in a database, have to be converted into a standardized data file that can be processed automatically by a purchase to pay system.
The challenge in invoice processing lies in obtaining standardized data files. If the invoices received are in the right format, then the further processing gives little to no problems. Jeroen Rozeboom, Sales Director ICreative
The conversion of invoices into data files can be done in two main ways, which differ from one another in terms of automation degree:
- Paper invoices must be scanned by a scanner or multifunctional and then, together with the incoming PDF invoices (with the exception of PDFs with a data layer), converted to a data file in the form of an XML using Optical Character Recognition (OCR) software. Both at header and at line level. Both Basware and Kofax offer OCR solutions. The data is then automatically validated with creditor master data from ERP systems and coded to the correct general ledger account.
- Ideally invoices from suppliers already come in as standardized data files. So e-invoices. That is often a bridge too far. After all, every supplier has to deal with many customers, each of whom also has their wishes. In order not to burden suppliers with this, but also not have to worry about invoice conversion, all parties can join a network in which the conversion is done for all parties (see e-facturatie).