Purchase Invoice Automation Software

[NHAccountant]

Hi,

Not sure if this is for the finance forum or IT, but here goes...

We're looking at getting purchase invoice automation software, and I was wondering if anyone had any recommendations, although I appreciate it will need to be something compatible with our ERP system. Our ERP vendor doesn't have anything as they are too interested in developing an ERP system that can do the "big stuff" without thinking about the fundamentals.

99% of our purchase invoices are emailed in PDF (those that aren't are scanned), several years ago I worked within a recruitment agency where they had a system that could read a CV and create a file for the candidate - name, address, work history, qualifications etc. and it was uncanny how accurately it could read and identify the sections of a CV. Does anything similar exist for purchase invoice processing...?

Thanks in advance,
Neil

 

[GLAbusiness]

I use DEXT - which is pretty good at analysing invoices.

 

[Baines Watson]

Hi,
Not sure if this is for the finance forum or IT, but here goes...

We're looking at getting purchase invoice automation software, and I was wondering if anyone had any recommendations, although I appreciate it will need to be something compatible with our ERP system. Our ERP vendor doesn't have anything as they are too interested in developing an ERP system that can do the "big stuff" without thinking about the fundamentals.

99% of our purchase invoices are emailed in PDF (those that aren't are scanned), several years ago I worked within a recruitment agency where they had a system that could read a CV and create a file for the candidate - name, address, work history, qualifications etc. and it was uncanny how accurately it could read and identify the sections of a CV. Does anything similar exist for purchase invoice processing...?

Thanks in advance,
Neil

You could try an RPA tool like Uipath that integrates with most ERP systems and can do things like scanning documents to extract key data like invoice date, amount etc and posting to ledger accounts.

 

[Paul Kelly ICHYB]

I am sure that a lot will depend on your OCR.

Accounts systems tend to have or work with receipt scanning systems that reads the document and creates a file that is then uploaded to your system.

There are plenty of these systems about and you could probably get something bespoke written for a few thousand pounds.

 

[TidyM]

Any number of systems that can deal with data extraction from purchase invoices and receipts. Dext, Autoentry, Hubdoc, Ezzybills etc...

Some of them like Dext have also released the ability to deal with sales invoices, bank statements and supplier statements as part of their software.

You can then look at some newer players on the block like Apron which has an OCR extraction system built into their payments system. The idea being that you extract data from paperwork then use their system to pay suppliers via the Open Banking system.

I've found Dext to be the most accurate and user friendly but it is also one of the pricier options so depends on how complex your paperwork is and what budget you have.

One beauty of Dext is that you can export all the extracted data into a CSV file for import into systems that don't link directly.

 

[Daybooks]

Try something like Purchase Control now called Planergy.
It will automate the process with control and authorisation from order requisition through to invoice payment.