Corcentric has added ReadSoft’s Optical Character Recognition (OCR) capture technology to its Electronic Invoice Presentment & Payment (EIIP) system.
The EIPP system electronically manages invoice data, disputes, approvals, payment disbursements and payment reconciliation, and the OCR enhancement digitizes the invoices and speeds up the process, the company said.
“The additional capability that we acquire through ReadSoft’s OCR allows us to provide Corcentric users with the ability to digitize their invoices all the way down to the line item detail,” said Dave Lindeen, vp of sales for Corcentric. “So now users can digitize invoices while retaining all of the detail, greatly increasing the efficiency of accounting and related systems because minimal human intervention is needed.”“OCR eliminates the labor needed to do the manual keying of the line item information,” said Stephen C. Dring, president of NMS Imaging, the system integrator for ReadSoft. “Instead of having employees keying data into legacy systems, they can now use this application in the Corcentric EIPP system to scan invoices, extract any necessary data, which can then be automatically fed into other company systems.”