As companies become increasingly digital, more and more are switching to electronic bill processing solutions to streamline their accounts payable process. Although the idea of a paperless office is becoming a reality for many organizations, most vendors still provide bills that are faxed, mailed or emailed to their customers. These require manual processing to get them into their financial management software.
Accounting and financial software solutions that provide the ability to process bills need to support the transcription of both digital and non-digital documents. The non-digital method requires users to scan or import bills and manually enter pertinent information into the system to be able to process payment. This is a needlessly slow and costly process that slows everyone down.
Since OCR solutions are unable to process the unlimited variety of formats of bills and invoices, the best way to automate the input process and provide an automated user experience is to leverage an API-driven workforce that can efficiently automate the billing input process. Many accounting solutions are building automated data entry into their offerings to take that work off of their customer's plates. CloudFactory is the best partner to power such a workflow at scale. We process hundreds of thousands of bills every month to provide a seamless user experience for our customers.