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As companies become increasingly digital, more and more are switching to electronic invoicing (also known as e-invoicing) services to automate their accounts payable. While the idea of a paperless office is becoming closer to a reality, many vendors still provide paper invoices that are faxed, mailed or emailed to their customers. These require manual processing by accounts payable departments.
Accounting and financial software solutions that provide the ability to process payments need to support both digital and non-digital documents. The non-digital method requires users to scan or import invoices and manually enter the header, footer and line items into the system to be able to process payment. This is needlessly slow and costly.
Since OCR solutions are unable to process the unlimited variety of formats and templates an organization receives, 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 input process for them. 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 invoices every month to provide a seamless user experience for our customers.
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