Invoice processing for dummies

Document processing is a fairly uninspiring name, but it refers to a mixture of technologies that have the capacity to revolutionise how offices do their business. Put simply, it means taking physical, paper documents and making them into electronic copies. At its most rudimentary, this means scanning them and turning them into straightforward images. But at its most sophisticated, it involves things as advanced as handwriting recognition software, which can be taught to ‘read’ different styles with a very high amount of accuracy. The resulting editable documents can be saved on a document management system, which can be thought of as an electronic filing cabinet – though with some significant advantages over the traditional metal monstrosities that sit in the corner of the office. Lastly, invoice processing gives the same advantages for the accounts group, so all the invoices an organisation receives can be dealt with in the same way.

Broadly, then, document and invoice processing encourage you away from using physical documents and more into the world of the electronic. Paperless offices are desirable for all sorts of reasons, both financial and environmental. Not only that, but sheets of paper get lost. When memos and papers go astray, critical pieces of information are lost. When invoices are lost, suppliers don’t get paid on time. That can easily lead to bad feelings and a breakdown in relationship. Of course, emails, Word documents and other electronic communications can and do go astray too. But automated back-up functions mean that it is far harder to lose something permanently, and when accounts are put through the computer then forgetting to deal with something is far less of a problem.

Document processing bridges the gulf between old and new: the traditional, paper-filled office and the business which doesn’t use any physical documents at all. As more and more of what we do is being moved onto computers and online, it becomes more important not to overlook that proportion of our business which still happens in the ‘real’ world. This is one reason that invoice processing is needed: organisations will typically be used to paying invoices in one or other format, and may not settle as quickly the ones they are less familiar with. Document management systems allow all employees with the right clearance to view files, making for greater transparency and ease of sharing information.

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