89% of companies with digital supply chains receive perfect orders from international suppliers, ensuring on-time delivery. The companies that are truly thriving these days have something significant in common: a digitized supply chain. This is essential if organizations are to meet delivery times and control production costs. Managing tasks, information flows, and product flows is the key to ensuring complete control of supply and production. Supply chains are the backbone of many a company’s proper functioning. With digitization, companies can eliminate these drawbacks and can have more advantages - Increased Transparency, Data Analytics, Improved working capital and easier tracking. Here are a few areas where Receipt Digitization can make a huge impact: Accounts payable and receivables automationĬomputing Accounts payable (AP) and Accounts Receivables (ARs) manually is costly, time-consuming and can lead to confusion between managers, customers and vendors. Who will find Receipt Digitization useful? Need a robust receipt OCR or receipt scanner to extract data from receipts? Check out Nanonets receipt OCR API! They play critical roles in streamlining document-intensive processes and office automation in many financial, accounting and taxation areas. Receipt digitization addresses the challenge of automatically extracting information from a receipt.Įxtracting key information from receipts and converting them to structured documents can serve many applications and services, such as efficient archiving, fast indexing and document analytics. Traditionally this has been achieved by manually extracting the relevant information and inputting it into a database which is a labor-intensive and expensive process. In order to manage this information effectively, companies extract and store the relevant information contained in these documents. Receipts carry the information needed for trade to occur between companies and much of it is on paper or in semi-structured formats such as PDFs and images of paper/hard copies. Receipt data extraction powered by OCR can be used to digitize receipt data in a structured manner that can feed into ERPs or databases. Fields commonly captured by receipt OCR include "description", "quantity", "due date", "unit price", "bill to", "receipt number", "total amount", "tax amount", "merchant name" etc. Please visit our website for more information OCR is a software that can extract meaningful fields/data from scanned or PDF receipts. The possibilities of the app vary and depend on your Exact Online subscription in combination with your user profile. Please note that an Exact Online subscription is required to use this app. * Keep track of your leave balance and request leave * Track projects and easily register your time spent on projects * Approve or reject purchase invoices with a swipe * Can easily add expenses, receipts, or invoices to your accounting * View days sales outstanding (DSO) figures and invoice history * Manage your customers and customer contacts * Get a clear insight into your most important financial figures – from revenues to bank balances The tools embedded in the app help you to work smarter. Real-time insight into your financial figures or accounts receivables anytime, anywhere? Quickly scan an invoice or receipt and add it to your accounting? Easily keep track of time spent on projects, view your payroll slip, or request personal time-off? With the Exact Online App you have real-time access to the most important financial figures from your accounting.
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