Invoice Processing with IRIS

Online’s Invoice Processing Solution improves cash flow, helps you manage compliance with ease, and results in real time savings of up to 3 days/month

 

Your Business. Your Solution

Just as every business is different, every Accounts Payable procedure is different. At Online Business eSystems we work with you to understand your staff, your processes, your technology and your goals to design the best Invoice Processing solution. Core to what we deliver is savings – savings in efficiency, costs and time so you can add even more value to the business.
Introducing IRIS for Invoice Processing, a product from Canon Australia. IRIS for Invoice Processing is one of Online's solutions for bridging the gap between your scanned or physical financial documents and the storage and retrieval system you would like them placed into. By automating time-consuming manual tasks, reducing receipt to payment life cycles, increasing visibility and swiftly loading data into back-end systems, IRIS not only helps businesses save time but also enables them to leverage their resources more effectively so their teams can work with greater efficiency. The transparency and accuracy of the solution also enables businesses to reduce risk and meet the compliance needs of their businesses.

Typical Manual Process                  Online's Invoice Scanning Solution
 

Key benefits

• Reduced processing times and costs                   • Better visibility on invoice payments 
• Easy validation and export to ERP, DMS and accounting applications (Cloud-ready!) 
• Improved staff productivity and satisfaction     • Audit-ready bookkeeping
• Improved supplier relationships                           • Strong return on investment

 

Key features

• Scan from any MFP or scanner
• No template design needed 
• Very fast identification of suppliers
• Recognize invoice content and extract key data automatically (date, Tax File Number, amount, currency, line items, etc.)
• Automatic data validity check (thanks to OCR confidence, field formats, math rules, etc.)
• Drag-and-drop OCR tool to assist data validation
• Possibility to create links with external databases (ex. supplier databases)
• Easy export, through the IRISConnect™ add-on, of invoices with their relative key data (XML or CSV file) and attachments into Document Management Systems (Microsoft® SharePoint®, Therefore®, etc.), accounting applications (EBP, Ciel, MYOB, etc.), ERP systems (SAP, Microsoft Dynamics®, Sage®, etc.) or Cloud services

 

1. Reception
Your invoices and their attachments are scanned (paper) or imported (electronic)
2. Encoding
Suppliers are recognized and key data is automatically entered into the system (supplier name and tax file number, date, amount, invoice number, line items etc.)
3. Validation
The captured data is checked using an extensive set of rules (math, logic, etc.). Documents that do not conform are subject to validation by the operator
4.Distribution
In a few minutes only, your accounting data and financial information is incorporated into the heart of your company's systems directly, fully available to your Accounts Payable and Finance departments!

 

If you would like to learn more about our available scanning and document solutions and how they can greatly benefit your business, contact your account manager or the PDS Department

**Refers to 3 business working days. Based on research conducted by AIIM Europe 2009. Calculations available at https://canon.strategymix.com/calculations