Exploring AP Automation’s Advanced Invoice Capture Process

 4/3/2024 by Andy Birkey

MetaViewer's AP Automation solution simplifies the task of capturing invoices and documents for accounts payable processing. MetaViewer utilizes advanced document recognition technology to meticulously capture invoice detail, thereby eliminating the need for manual data entry. So, how does it all work? 

Invoice Capture: What is it?

Invoice capture serves as a crucial component within AP automation, enabling the effective management and processing of invoice data. This involves the extraction of data from invoices arriving such as paper, or PDFs attached to an email and converting it into an organized, digital form for easy processing and integration with your ERP. Electronic invoice capture reduces paper-handling and manual data entry, minimize mistakes, and boosts the efficiency of AP staff.

MetaViewer's AI-enabled Touchless Invoice Processing with Intelligent Recognition (IR) functionality reads and extracts data from invoices and related documents. The process goes like this:

Receipt of Invoices: Invoices are received through email attachments or through scanned paper documents. MetaViewer automatically monitors email boxes or shared folders for capturing invoices.

Document Capture and IR: Paper invoices are scanned to create digital versions, while electronic invoices are directly pulled into the system. IR technology then reads the information on these invoices for processing.

Data Extraction and Validation: Using machine-learning and AI, the system identifies and extracts critical data points from the invoice, such as the invoice number, PO number, invoice date, and dollar amount. Once the data is captured, it is validated automatically by cross-referencing data with your ERP. Using business rules MetaViewer will reconcile the invoice against the purchase order. The solution efficiently identifies discrepancies and flags them for review, facilitating a streamlined verification process.

Integration into AP Systems: The software's intelligent recognition extracts relevant data from invoices and automatically updates the accounting solution such as Microsoft Dynamics ERPs, ensuring accuracy by reducing manual data entry errors and saving significant time. 

To get a firsthand account of how MetaViewer leverages AI and machine-learning technology, check out this interview on MSDynamicsWorld with MetaViewer’s own Doug Bertram.

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