Financial & accounting documents play a critical role in driving business processes. Businesses handle & verify various financial or accounting documents such as invoices, receipts or purchase orders as part of their daily workflows. And as businesses grow, they have to handle & process a lot of financial documents.
Organizations tend to have dedicated accounting teams to check financial documents, enter the data into accounting software, verify the data against supporting documentation, and finally process transactions if needed.
And that’s where OCR, or Optical Character Recognition, can help.
OCR is a technology that converts digital documents into editable files containing searchable text. In addition, the OCR can automatically recognize & extract text, characters, fields or data from scanned documents & images. And since the documents in question mostly present structured data across standard formats, automated OCR finance or OCR accounting could greatly reduce processing times for each document.
Invoice OCR is the process of extracting data from digital documents and converting them into searchable and editable text. Invoice OCR software works by scanning read-only documents such as PDFs and images, recognizing and extracting critical information, and converting that information into editable text. Extracting relevant fields of data from invoices can help organizations process transactions more quickly, avoiding delays and potential fines
"Upload Invoice File"– The feature that works for you.
okoora ABCM developed an automated invoice process- "Upload Invoice File". This feature will allow you to complete the payments process easier, faster and better controlled more than ever before. From now on, you can send funds to your suppliers around the world by a single click and upload a large number of invoices that will be analyzed and ready to be paid. In addition, the ""Upload Invoice File"" feature allows you to send partial payments and schedule the continuation of the payment whenever you want.
How does it work?
1. Upload the invoices
2. Choose the wallet that you want to charge
3. Approve the details
4. Funds sent
To transfer money automatically by invoices with okoora ABCM™ click here