A recent study by the Aberdeen Group, which surveyed hundreds of U.S. Accounts Payable departments in 2008, points out that most organizations are paying about $15 to process a single invoice, while a select group of best-in-class organizations have lowered that cost to below $4. The difference? The best-in-class organizations have implemented one, two or several automated processes in the Accounts Payable department, including capture systems to automate invoice data entry.
Datacap Taskmaster APT (Accounts Payable Technology) is a data entry solution built specifically for Accounts Payable. Integrated with any document scanner, Taskmaster APT can capture key data automatically from invoice images. Taskmaster APT uses best-of-breed OCR (Optical Character Recognition) combined with other techniques to identify the vendor, locate and extract such important fields such as purchase order number, invoice number, invoice date, and total amounts. Taskmaster APT can also accurately capture all line items, even on multi-page invoices without expensive set-up programming.