ideck case
TRANSCRIPT
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8/9/2019 IDeck case
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HBS IDECK - GET STARTED
IDECK PROCESS
1. RECEIVE & SCAN
2. RECOGNIZE & CAPTURE
3. VERIFY & MANAGE
4. ARCHIVE
5. FOLLOW
FACTS
If you process 5,000 invoic
per month, at a cost savin
of $5 per invoice, you c
save $300,000 per year.
IDeck: The Automated Invoice Processing Tool | Page 1
IDECK SOLUTION FOR AUTOMATING
INVOICE PROCESSING
Accounts Payable specialists at most
organizations know the pain of manual
invoice processing all too well, as almost
80% of all vendor invoice activity is still
paper-based. AP departments who rely
on manual processes find that adding
staff does not solve the inherent
problem. Manual processes are not only
expensive, inefficient and error-prone;
they also expose organizations to serious
risks that can affect their credit ratingand regulatory compliance standing.
First, lets look at the typical manual
process (Ref -Fig 1).For most companies,
invoices arrive by mail/ email and are
keyed into ERP. If they make it
successfully through the mailroom
without being lost or incorrectly routed,
AP processors can then either match an
existing master vendor record or create
a new one. Invoice data is parked,
routed for approval via inter-office mail,
and later posted assuming no other
action is required. If further research
and/or approvals prove necessary, the
invoice is once again manually routeduntil it is finally posted. In each step,
there is ample opportunity for error, lost
documents and delays, even in the most
refined manual process.
SOLUTION
HBS IDeck handles Invoice-to-Pay, with touchless processing.
1
Capture Create digital invoiceimage archives; eliminate paper
and wasted time. All image files
should be read and be easily
searchable. Scanning provides an
electronic image. Having an OCR or
e-Invoicing option further removes
manual steps from the AP process.
These steps reduce human error,
match purchase orders and vendor
master records.
2
ProcessingManage all data anddocuments from start to finish.
The solution must automate
routine AP processes such as
invoice duplicate checks for all
incoming invoices, exception
handling control and opening
visibility into the process.
Moreover, the process should
provide a complete audit trail.
3
Delivering Deliver procetransparency and control to t
people who need it.
processors and managers need
see and be able to impact t
invoice workflow at every stage
the invoice-to-pay process. H
IDeck makes it possible to acce
and have real-time visibility of
invoices in process.
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8/9/2019 IDeck case
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FOR MORE INFORMATION
To learn more about how I
automates the entire AP procesfor scheduling live demo, get in to
with our sales representative at:
T: +91 471 4060991/8
IDeck: The Automated Invoice Processing Tool | Page 2
WWW.HBSIND.COM
Copyright 2014
Hages Business Solution.
AUTOMATED PAPER-TO-POST INVOICE
MANAGEMENT PROCESS
All the received paper invoices are
scanned and sent to IDeck for
processing. IDeck seamlessly connects
with standard scanner devices,
completely automating vendor invoice
processing. E-invoices received are
directly taken to data capture module.
The IDeck data capture module works
hand in hand with the image
recognition technology (OCR, ICR)
integrated in the solution, providing
the intelligence to accurately extractrelevant information from vendor
invoices. The product makes sense of
character sequences extracted using
OCR, relying on template mapping,
context based recognition, key words,
and automatic data validation - where
extracted information is cross-checked
against your existing databases. On
extracting the relevant datas from
the invoice like PO number, bill
number, date, total amount, tax
fields etc.
IDeck connects to SAP and pulls all
the Open POs of the vendor and
matches the actual PO and the GRN
corresponding to the PO gets
displayed. Exception handling
workflows are also configured as
part of this product, that is if IDeck
couldnt pick PO number form
vendor Invoice then a mail will be
triggered to the concerned person
indicating a PO not found error.
After going through all the checks
and validation invoice gets parked
or posted to ERP (SAP).
ABOUT HBS
HBS is an IT services, Consu
and Business Solut
organization that deliver
results to global busin
ensuring a level of certainty a
with the industry standards.
offers a consulting-led, integr
portfolio of IT and IT-ena
infrastructure, engineering
assurance services.
Fig 1: Typical Accounts Payable Process (Manual Vs. Automatic)