Invoice Scanning and OCR with Dynamics – The Modern and Easy Way

Before you can automate, it’s important to get your invoicing house in order. Otherwise, you’ll continue dealing with problematic, poor-quality invoices and won’t truly benefit from the productivity gains and cost savings that automation has to offer.

There are two main approaches to doing OCR

Regardless of which of the two approaches you use, you need to re-examine the cost-rewards benefits behind it. There are pros and cons to each approach, but the end goal is the same: capture invoice data accurately and effectively in a digital format. For all companies that haven't yet invested in an in-house OCR technology, we recommend you to consider having it done as a service, as OCR might not be one of the core competencies of your AP department. 

Capture as a Service

Capture as a Service

Capture as a Service (CaaS) – This is essentially the same as owning the software, but it outsources the process, and frees up the company from having to complete the time-consuming work. Service providers focusing on CaaS have already built the invoice templates and taught the software – for years. This means that you get to reap the benefits of high-quality data capture immediately and focus your time on more strategic tasks.


In-house OCR

Optical Character Recognition (OCR) software recognizes characters in paper and PDF invoices. It is typically based on recognizing key words and teaching the software where the data lies in different invoice templates. However, teaching the OCR itself and employees to use it takes a lot of time and resources. And to maintain the level of quality high, manual validation is required.


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AP Automation process

OCR is an important step in AP automation

True AP automation means automation across the entire AP process. Imagine receiving an electronic invoice that is automatically coded and entered into your invoice automation system, and gets routed through an electronic workflow that generates reminders for reviewers and enforces compliance of your policies. Then, your AP staff would just handle the exceptions and have time to focus on other, more strategic activities.