SaaS Delivery Model

Purchasing Control

Supplier Integration

A/c's Payable Integration

Eliminate Manual Inv Entry

Auto COA Code Allocation

Low Cost of Entry

Zero infrastructure

Global Access

 

Buy Link's OCR Invoice Processing solution

The benefits of processing invoices via OCR

  • Defining the average cost of processing an invoice from Purchase to Payment is difficult to determine as every business includes different cost components in the Purchase to Payment cycle.
  • Cost studies undertaken to-date show a range of cost results, but a consistent return is from $4.00 per invoice for best of practice with advanced automation & OCR (Optical Character Recognition), $9.60 with low/partial automation, through to $23.00 with no automation.
  • The biggest stumbling block to accomplishing any form of Accounts Payable automation is a continued reliance on paper based invoices, and people based processing.
  • Labour costs typically consume 60-65% of total Accounts Payable costs. By contrast the efficiencies that can be gained by OCR automation in Accounts Payable processing are dramatic by any measure...
    • Process 100% of invoices - hand written and computer generated invoices 
    • 90-95% reduction in paper - environmental  impact
    • Document storage - secure document and data storage
    • Reduction in physical document storage space required - efficiency gains &  cost savings
    • Invoice original archiving - secure, easily accessible document reference
    • Reduction in invoice processing time - take advantage of prompt payment discounts
    • Up to 25% improvement in labour costs and productivity - efficiency gains and cost savings
    • Faster invoice payment approvals - reduces the number of days to process an invoice 
    • No lost invoices - cost & time savings in requesting copy invoices
    • No invoices paid twice - cost & efficiency savings
    • Accurate accruals - reliable reporting  
    • 24/7 visibility of invoice status - more immediate management  decisions
    • Seamless workflow integration - work flow efficiency