Oracle Content Management: Optimizing Accounts Payable
By Brian Dirking on May 31, 2011
If you are just getting started in automating invoice processing and accounts payable, a great webinar to listen to is this one with Jamie Rancourt of Oracle: Optimize Accounts Payable Through Automated Invoice Processing. Jamie goes through the steps to automation, and shows how a content management system to store the imaged invoices enables fast lookup to confirm payments, addresses, and invoice numbers.
Jamie also shows how some companies automate the capture process and extract information from the invoice in the process of moving it from a paper format to an electronic format. By automating this process, companies can cut as much as 90% of their invoice processing costs, and they can improve their accuracy. Offerings like Oracle’s Content Management Solutions provide a way to extract content such as invoice number, amount, tax and other data, and then automatically pair it with the correct invoice and enter the data in Oracle E-Business Suite or in Oracle PeopleSoft.
The webinar also profiles some customer examples, including Home Depot and Costco. Both of these organizations process thousands of invoices daily.
What are your criteria for choosing an imaging solution for accounts payable?