Invoices are treasure troves of valuable data. With everything from product descriptions to contract terms, invoices feature a wealth of vital information that AP can leverage to improve the organizationâ€™s procure-to-pay cycle.
Unfortunately, many departments are not doing this. Mining data from a paper invoice is a daunting task. It requires organizations to devote staff resources and time to a job that doesnâ€™t help pay the bills any faster. The key to getting access to this data is to go electronic.