Accounts Payable Efficiency (2): How to Streamline Your Invoice Processing
As we saw previously, invoice data extraction can be a time-consuming task with a high potential for creating inefficiencies throughout your company. This is especially true if your data capture process requires manual operations at…
Accounts Payable Efficiency (1): Invoice Data Extraction Might Be Slowing You Down
We’ve taken you through the total cost of ownership (TCO) of invoice data extraction. We highlighted the KPIs to track when evaluating your accounts payable (AP) processes, and assessed alternatives to manual data capture. Now let’s take a closer look at the key driver of TCO: time. After all, time is money; therefore, time wasted equals money wasted. The efficiency…
From Spreadsheets to the Cloud (3): How to choose the right AP software for your business
We kicked off our accounts payable automation (AP) series with a look at how manual data capture processes can hinder your accountants and harm your bottom line. Following that, you learned about alternative invoice processing solutions that enable your AP team to focus on higher-value tasks. To wrap things up, we’ll give you insights and guidance to help you find…
Rossum Product Improvement News
In this month's product update, we’ve released powerful new features to increase the effectiveness and efficiency of your data capture processes and improve user experience. Check out the upgrades we launched last month and feel free to get back to us with your feedback about the platform and our services. Subscribe to get the latest updates in your inbox! GENERAL…
From Spreadsheets to the Cloud (2): Alternatives to Manual Invoice Data Extraction
In our previous post in this series, we looked at manual data invoice extraction and the problems it can create for your Accounts Payable (AP) team and your company. Understanding your invoice processing system’s flaws and weaknesses will help you repair and strengthen it efficiently and cost-effectively. With the exception of outsourcing, the main differentiator among data capture alternatives lies…
From Spreadsheets to the Cloud (1): Why Manual Invoice Data Capture is Bad for Your Company
If your company is dealing with lost invoices, complaining vendors, duplicate payments, or over payments while its Accounts Payable (AP) department is growing, you may want to re-evaluate your manual invoice data capture system. Simple steps make up a complicated process The paperless office is an ideal that is stuck in the concept phase - it’s not a reality, at…
The Real Cost of Invoice Automation: The TCO of Invoice Data Capture (Part 3)
Paper-based back office processes are one of the obvious targets for automation. And many solutions did try! However, not every kind of automation is alike – or the costs. In this series, we have seen how much the right process matters for the cost in the first article, and where the costs come from in the second. Now, it's time…
Manual Typing is Expensive: The TCO of Invoice Data Capture (Part 2)
Every company receives bills and invoices every day... and manual retyping is still the go-to solution for most companies. But as the number of invoices and complexity of the process grows, the costs start to grow as well. In the first article in this series, we have seen that automating the data entry makes a dramatic impact on the costs.…
Invoice Processing Can Be Cheaper: The TCO of Invoice Data Capture (Part 1)
In this series, we focus on everyone's favorite subject: the cost. Because one way or another, the more business a company does, the more invoices its Accounts Payable will eventually deal with. We unwrap the real Total Cost of Ownership of three basic approaches to data entry – a manual process, a template-based OCR solution, and AI-based cognitive data capture.…