Magazine Article | February 7, 2007

Employ Specialized Capture Tools For AP Processing

Source: AnyDoc Software
Business Solutions, February 2007
Ken Congdon
When CPT Intelligent Technologies decided it wanted to begin developing payment and remittance processing solutions to complement its existing forms processing offerings, it needed to educate itself on some specific AP (accounts payable) products offered by its data capture vendor AnyDoc Software. Two products the integrator immediately wanted to certify itself on were AnyDoc INVOICE and AnyDoc REMIT.

AnyDoc INVOICE automatically captures and processes the data that companies regularly need to reference on an invoice such as vendor ID numbers, invoice dates, purchase order numbers, line-item descriptions and charges, payment terms, shipping charges, and taxes. This information is automatically extracted, minimizing manual data entry, and questionable data can be validated by a human operator. Once captured and validated, invoice images and data can be transmitted to other business applications such as a financial database, ECM (enterprise content management) system, and/or ERP (enterprise resource planning) system.

AnyDoc REMIT automates the capture of remittance data, expediting the time it takes customers to transfer data to their financial systems and deposit funds into their accounts. The software also automates preparatory tasks, such as validating remittance transactions against an organization's back end database and matching incoming funds with outstanding invoices. AnyDoc REMIT also allows VARs to set up business rules that enable the software to adapt to the specific accounting processes of each individual business.

"One of the things I like best about the products on the AnyDoc platform is that you can execute several high-level data extraction functions without extensive programming expertise," says Brian Ashforth, partner of CPT Intelligent Technologies. "The point-and-click capabilities of the software also make it easy for salespeople to set up their own product demonstrations without the support of a technician. This flexibility allows us to maximize our human resources, which is very important to a seven-person integrator such as ourselves."