OCR Invoice Scanning

Most organizations say manual data entry and the high volumes of email and paper invoices they receive are a big challenge.

  • Many cases organizations are using dated legacy OCR invoice scanning technology
  • Emailed invoices from suppliers are printed out and manually keyed into the ERP
  • For growing companies, larger invoice volumes mean hiring more staff to handle the manual effort
OCR Invoice Scanning & Data Capture
Rillion handles both email and paper invoice scanning with OCR and digital capture

An Optimal Solution

Rillion’s Capture solution handles both email and paper invoice scanning with OCR and digital capture in the cloud. Our OCR invoice scanning solution processes files in any format: PDF, EDI, XML, Word, Excel, JPG, TIFF, XML, CSV and more. Accuracy rates for paper invoice capture are 95%, and for PDF/Electronic formats 100%. There is no added cost for suppliers.

Rillion Capture solutions seamlessly integrate with your ERP, and there is a Full Service option for larger invoice volumes. For more information see Rillion Digital Capture.

2022 Guide to OCR, Invoice Scanning & Data Capture

Download our guide about OCR Invoice Scanning & Data Capture

Although EDI or invoices submitted through a solution portal are offered as solutions to these issues, 80 to 90% of supplier invoices received by companies are either paper or email. Approximately 75% of organizations enter their invoice data manually.

There are some attractive options for handling all formats of invoices, however – from both an implementation and price perspective.

“It’s amazing. Rillion recognizes the invoice and it’s learning from those invoices, making it a smoother process. Once those invoices are getting thrown into the project manager teams, it’s already filled out for them to review.”

5 ways to Capture data from an invoice in 2022 (from the guide)

A supplier creates an invoice in their ERP and generates it as a digital PDF, XML, CSV, Word, Excel, EDI or other electronic format, and then emails it. The invoice is sent to the buyer via a designated email address where automated and AI-driven invoice scanning and data capture software instantly reads the data form the invoice and extracts it into a database.

The invoice capture is fast and 100% accurate, because the electronic file format of the invoice has a data layer that reflects exactly what was input. This digital capture method has a high on-boarding rate by suppliers because the supplier just has to send the invoice to the specified email address and avoids incurring any costs to do so.

Whereas legacy OCR invoice scanning technology is resource intensive (data has to be manually field mapped, as an example) Rillion’s OCR invoice scanning solution teaches itself to identify supplier invoices based on their layout and then automatically stores that information for future reference. The invoice OCR software also intuitively maps the data fields in each invoice and stores them in a database.

  • If your supplier sends a paper invoice:
    The invoice is scanned by Advanced OCR invoice software that recognizes the layout of the supplier and then extracts essential data fields. This process takes a few minutes and is 95% accurate. No on-boarding required as suppliers are continuing to send invoices in the mail.
  • If your supplier sends an electronic file:
    In other words, if the invoice is an “image” of the invoice (instead of an electronic file with a data layer as mentioned above). Rillion’s invoice OCR software scans this information with the same results as paper invoices.

A supplier sends an XML or EDI file to the buyer. This is good for buyers who are set up to receive it, but the supplier has to justify the cost of changing their billing application and infrastructure to send XML and EDI documents. EDI and XML have high data accuracy but a low on-boarding rate.

Invoice data is manually entered into a supplier portal by the supplier. This replicates the manual keying of data into your ERP, but the manual keying is left to the supplier. Good for small suppliers and has a very low on-boarding rate.

Keying invoice data into the ERP, printing out PDFs or other emailed invoices, storing large amounts of paper files, and staying committed to paper processes. Only sustainable for very small operations where automated invoice scanning is still often preferred.

OCR invoice processing is technology called Optical Character Recognition that extracts data from vendor invoices in order to avoid manual data entry.

OCR (Optical Character Recogition) is used to scan and extract data from supplier invoices. Once the data is extracted accounts payable can process the invoice.

You can scan an invoice using a scanning device or by taking a picture of the invoice and using OCR technology to extract the data.
What is invoice monitoring? Invoice monitoring in accounts payable is having an overview of where invoices are in the approval process.

Invoice processing can require many manual steps. AP automation can help automate these manual steps so that time can be spent on other accounts payable activities. Most commonly: data entry, routing for approval and audit practices can all be automated when using AP automation software.

Rillion – AP automation for your peace of mind

Rillion provides accounts payable automation (AP Automation) to satisfied organizations in over 50 countries worldwide. With high ratings for ease of use and great support, 96% of Rillion customers feel that the platform fulfills expectations, and 95% consider Rillion to be a worthwhile investment.

Become a customer and see for yourself!