FIS / FCI automation replacing manual tasks

Automated Invoice Reading from Day One

FIS OCR Invoice recognition checks for potential data errors prior to export to SAP/Financials. The OCR reading system includes an intelligent knowledge-base so new invoices are read perfectly without intervention.

Introduction
By introducing FIS advanced technology, the invoice reading process becomes more efficient and the quality of the data is improved. Accounts Payable Teams will benefit from the reduced number of mundane tasks such as manual data entry and pre-SAP classification of invoices.
FIS / fci is a stand alone or hosted application and although designed to work with SAP (ECC 6 or S/4HANA) can also be configured for other ERP or Financials software.
Who is it for?
For organisations who wish to:
  • Replace the mundane, manual tasks of their Accounts Payable teams and replace them with technologies that automate the reading of invoice data into their ERP/SAP system
  • Remove labour intensive and expensive stages of invoice classification by eliminating the need for bar-code label additions to invoices
  • Make savings by capturing invoices at the first stage (early invoicing) rather than scanning invoices (or using a bureau service) retrospectively
  • Free-up time and make savings by removing all manual invoice classifications – no need for pre-sorting invoices
  • Support the Accounts Payable team working from home (i.e. coronavirus restrictions) by recommending that suppliers send invoices electronically via email or EDI
  • Improve data quality by installing technologies with validation and feasibility checks
Key Information : Replacing Manual Tasks
FIS / fci  is designed to model the way in which a human would interact with an invoice – reviewing the key invoice data (using multiple OCR engines) and searching for the data in the vicinity of familiar words and phrases.
The data is validated and against SAP/ERP tables and also includes checks for arithmetic agreements between net, tax and gross values. The data from each supplier is learnt automatically as a knowledge base gains experience with each supplier invoice.
Tasks that are replaced include:
  • Significant reduction and in some instances elimination of data-entry work by the Accounts Payable Team
  • No requirement for bar-code labels to be added to each invoice
  • No requirement for emailed invoices to be printed and then labeled with a bar-code
  • No retrospective scanning of invoices or using a bureau service for "late archiving"
  • No need for manual invoice classification into categories such as company codes, currencies, invoice type (PO or PO-exempt)
Working From Home - coronavirus

FIS / fci  is an ideal technology for Accounts Teams that work remotely. AP departments are not unduly hampered by the restrictions caused by the pandemic if the number of physical invoices (i.e. paper) are reduced. The technology works automatically with emailed invoices or invoices sent electronically via EDI.
This form of machine learning is utilised by FIS / fci to further reduce the need for manual intervention when processing supplier invoices.