Optical Character Recognition (OCR) has been a popular buzzword for nearly ten years. When you first hear about OCR it seems like a no brainer as having computers read data is MUCH cheaper than having a human read data. As you look into more and more detail you find that services offer many different accuracy rates, pricing models, and even volume caps. We know looking into OCR can be a daunting process, so we’ve tried to make it simple with these few questions.
- Do you have someone enter invoices as their primary function?
Keying invoice data can be a huge pain. Just as Ford found specializing leads to greater efficiency, the same holds true today. If you’ve got a person, or a couple people, who casually enter invoices odds are they are not being as efficient as a person or process that did it full time. Unless it’s a full time job, it likely makes sense to outsource. Aside from this, allowing your employees to focus on activities that effect your bottom line is always a good thing.
- What form are your invoices in?
If you’re already turning your invoices into PDFs it makes sense to capitalize on the technology available to do data entry for you.
- How many invoices do you receive?
Is invoicing burying your business? At a certain point you must find AP efficiencies, otherwise your AP will need to scale at a faster rate than the rest of your business.
- Accuracy matters, what is the service offering?
OCR systems can vary wildly in their promised accuracy. That can mean the difference between a system that saves your company money, and a system that adds a frivolous cost. An OCR system like Fidesic offers 99% accuracy which means you don’t have to waste time checking the systems work.
- Does this OCR work with your ERP system?
If data capture doesn’t integrate seamlessly with your ERP system, it will not save you any money as you’ll still have to key data into your ERP system, or waste time converting the files.
Fidesic OCR is a great system that meets and exceeds all of these proposed questions. We have a dedicated system and staff to capture invoice data, which means we manage it in the most efficient way possible. With Fidesic if your invoices are digital it’s a breeze to submit them for processing by either FTP or email. Fidesic allows you plenty of room to grow without having to grow your AP department and offers best in class integration with Dynamics GP.
For more info on Fidesic contact Enliven Software Sales at sales@enlivensoftware.com or by calling 866-439-5884.
To Try an ROI of your own head over to our ROI page to see how much Fidesic OCR can save.
About Enliven Software
Enliven Software is a leading Lansing, MI Microsoft Dynamics ISV delivering AP and AR business solutions across industries to local businesses for over 15 years. Enliven provides cloud based solutions that help automate Accounts Payable processes, and provide a dynamic Customer portal designed to work specifically with Dynamics GP.
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