Using Advanced Document Process Automation to Improve the Financial Supply Chain

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Posted: 04/14/2016

Process Automation System

For many organizations the ERP is an entrenched system of record. However, ERPs are not optimized for activities such as matching printed or electronic invoices with supplier master data, purchase orders, shipping, tax and discount data.

Companies often augment their ERP, instead, with document management systems. Historically, these systems relied on optical character recognition – costly, and still requiring a high level of manual intervention.

Fortunately, the latest generation of document management systems are better able to "learn" patterns and fix data issues automatically, reducing the need for manual intervention and lowering total cost of ownership.

Because they can match data from disparate systems and pull it together in a cohesive, understandable way, these solutions are proving an excellent fit for end-to-end processes like purchase-to-pay, order-to-cash and record-to-report.

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By:
Posted: 04/14/2016

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