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ABBYY FlexiCapture for Invoices
Overview Sergey Osypenko ABBYY Ukraine
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ABBYY on the Globe Founded in 1989
ABBYY on the Globe North American HQ European HQ International HQ Eastern European HQ Founded in 1989 More than 1200 employees in 14 offices worldwide Confidential
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Lexicography (dictionary creation)
4 CORE TECHNOLOGIES Text recognition Document analysis Lexicography (dictionary creation) Semantic
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Did you know that… 70% of invoices are received on paper
Did you know that… 70% of invoices are received on paper One invoice can be copied up to 5 times over its manual processing lifecycle 70% Paper 30% e-Invoice PDF Fax According to research performed by Pentadoc Radar (sponsored by ABBYY) in 2012. 35% of companies are receiving invoices at multiple locations Confidential
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Typical drawbacks of manual invoice processing
Typical drawbacks of manual invoice processing Delayed or lost invoices Long invoice processing cycle Missing visibility & tracking Missed benefits of early payment Late payment fees High cost of manual labor Time inefficiently spent on data keying and checks High operational costs Confidential
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Did you know that companies which opted for AP automation report…
Did you know that companies which opted for AP automation report… More than 2 times reduction in invoice processing costs More than 50% faster invoice processing cycle Reduced processing costs Faster processing cycle x2 According to research published by Aberdeen Group, 2013 +50% Confidential
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Invoice Processing Legal aspects
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Why Invoice Processing?
Invoice processing is part of the purchase (procure) to pay (P2P) process and covers the process from Reception of an invoice until the Payment The focus of the accountant is Legal compliancy: are all national requirements on a compliant invoice met Calculative Correctness: is the invoice arithmetically correct; is the vat amount correctly calculated Factual Correctness: are the price, quantity and quality as expected/ordered; detection of fraud Paying in time: get early payment discounts and avoid late payment fees ABBYY FlexiCapture for Invoices. Training course. Overview
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Invoice Automation Process
Capture Enable Process Fax MFP Mail FC for Invoices Archive Destroy Store Validate Notify
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AP Automation Features Extract Data
Invoice number and date Name and complete address of buyer VAT number of supplier and buyer Delivery date of goods/services Purchase order data Line items: description of goods, quantity, VAT rate, unit and total price Currency, subtotal, VAT rate, VAT amount, total Bank details Recognition of the Buyer / Business Unit Recognition of the Vendor: Non-Existing Vendor / Multiple Vendor – Vendor is always in the context of the BU! - Definition of countries / languages / formatting 3. Header Data: Invoice & Delivery Date, Invoice Number, Document Type (Invoice, Credit Note) Many optional fields on header basis are possible (Packinglist Number, CapEx, Project Number, Buyers Name, …) 4. Amount Data: Value of Goods, Net Amounts, VAT Amounts, Total – Additional Costs only important for invoices with PO - VAT Domestic / International / Point of Delivery is important 5. Additional Information: Bank Account Check / Due Date ABBYY FlexiCapture for Invoices. Training course. Overview
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ABBYY FlexiCapture for Invoices
Product overview
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What Is ABBYY FlexiCapture for Invoices?
Easy-to-use, intelligent ready-to-go solution for processing invoices identifies data fields on the vast majority of invoices helps to ensure legal compliance and consistency of data, facilitate invoice approval, and detect misbilling based on the powerful ABBYY FlexiCapture platform includes intelligent on-the-fly Auto-Training technology ABBYY FlexiCapture for Invoices. Training course. Overview
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Invoice Capture Process
ABBYY FlexiCapture for Invoices. Training course. Overview
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Invoice Capture Process
ABBYY FlexiCapture for Invoices. Overview
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ABBYY FlexiCapture for Invoices
Architecture types
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Standalone architecture
ABBYY FlexiCapture for Invoices. Training course. Overview
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Distributed architecture
ABBYY FlexiCapture for Invoices. Training course. Overview
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ABBYY FlexiCapture for Invoices
Benefits & features
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Ready-to-Run Benefits & Features
ABBYY FlexiCapture for Invoices. Training course. Overview
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Flexible Benefits & Features
ABBYY FlexiCapture for Invoices. Training course. Overview
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Ready for Tight Integration
Benefits & Features Ready for Tight Integration ABBYY FlexiCapture for Invoices. Training course. Overview
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Multi-Channel Input Benefits & Features
ABBYY FlexiCapture for Invoices. Training course. Overview
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Trainable Benefits & Features
ABBYY FlexiCapture for Invoices. Training course. Overview
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Well-Designed Verification UI
Benefits & Features Well-Designed Verification UI ABBYY FlexiCapture for Invoices. Training course. Overview
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Automated PO and Master Data Matching
Benefits & Features Automated PO and Master Data Matching ABBYY FlexiCapture for Invoices. Training course. Overview
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Straight-Through Processing
Benefits & Features Straight-Through Processing Input Recognition & Validation Data review & Correction Delivery to back-end Touchless processing ABBYY FlexiCapture for Invoices. Training course. Overview
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Ready for Large Companies and International Businesses
Benefits & Features Ready for Large Companies and International Businesses ABBYY FlexiCapture for Invoices. Training course. Overview
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