Automated Invoice Processing
Horizontech automates Invoice workflow from arrival to payment, including capture, information extraction, validation, verification, allocation, resolutions and approvals, posting, payment approval and archiving. Paper Invoices contain valuable data that must be transferred to your financial management system. Keying data from paper utilizing accounting resources is an expensive, time consuming process, reduces time spent with accounting functions, and causes delays with transacting payment approvals. Inaccurate document processing, including data entry can also cause painful, downstream issues with reconciliation and custom service.
Manual Invoice processing can cost between $20 and $60 each. XperTran® will capture, interpret, validate and transfer information on your Invoices – all from your mailroom, 3rd party and/or our secure processing facility.
Horizontech reduces processing timeframes, increases data accuracy and automates the numerous functions associated with pulling and reviewing paper Invoices. Access your documents anywhere, anytime and securely within seconds.
- Scan paper Invoices in your mailroom or 3rd party mailroom using our Cloud
- Access to the HTI’s latest OCR technologies, combined with highly trained keying specialists to process structured and unstructured invoice documents
- We can deliver your Invoice data, formatted in any standard or proprietary format to your financial management system
- Invoice images can be loaded to your document management solution or available through our secure web-based image storage and retrieval system. Images can be delivered by query to our system or by a link on your system
- We can customize, based on your business rules for data validation and verification
- Validate sub-total math
- Validate date ranges
- Validate vendors
- Perform PO database lookups
- Eliminate bad data from entering your financial management systems
Accurate data delivered faster and images made available to your organization means the approval process starts sooner. XperTran® provides advantages in:
- Savings of 30-50% over manual systems
- Reducing labor costs
- Increasing your accounting staff’s productivity
- Helping to improve vendor relations
- Allowing your organization to capitalize on negotiated payment terms