Corcentric Adds OCR Capture to Electronic Invoice System

March 2008, - Feature

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Corcentric has enhanced its Electronic Invoice Presentment & Payment system
for electronically managing invoice data, disputes, approvals, payment disbursements and payment reconciliation with Optical Character Recognition capture technology from ReadSoft.

The OCR enhancement enables the digitization of invoices, speeding the invoice process with little or no human intervention, with information automatically fed into other systems for spend analysis and other management needs.

"The additional capability that we acquire through ReadSoft's OCR allows us to provide Corcentric users with the ability to digitize their invoices all the way down to the line item detail," said Dave Lindeen, vice president of sales for Corcentric.

"OCR eliminates the labor needed to do the manual keying of the line item information," said Stephen C. Dring, president of NMS Imaging, the system integrator for ReadSoft. "Instead of having employees keying data into legacy systems, they can now use this application in the Corcentric EIPP system to scan invoices, extract any necessary data, which can then be automatically fed into other company systems."

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