Converting paper invoices to a digital format. Invoices can either be received in paper format and then scanned into a digital format, or directly received and sent out electronically. Invoice digitization is a prerequisite for further automatic processing.
Nowadays, there are invoicing services or business systems that work with invoices, which can issue and receive invoices directly in a structured digital format (which is not the same thing as receiving a PDF file by e-mail), thus eliminating manual invoice processing. In fields with a high turnover of standardized goods (i.e. retail, e-commerce, pharmaceutical industry, etc.) and with a number of regular suppliers, it is common for companies to use EDI communication, which enables full automation of invoice processing.
In the case of suppliers who are not ready for advanced EDI communication, companies have the option of partial invoice digitization using services such as iNVOiCE FLOW. This service extracts all the necessary data from the invoices using artificial intelligence, manages the digital approval flow and, finally, imports the invoices into the company‘s accounting system while also archiving them in a trustworthy and secure data center.