FIS/fci – Advanced Automated Data Entry
FIS/fci (Freeform Capture and Integration) is a leading, innovative technology that is used to automatically examine a digital invoice (or other semi-structured document) and extract the required data with minimal or no human intervention. The technology creates financial and time savings compared to manual data-entry and increases data quality prior to importing into SAP or other ERP/Accounts software. FIS/fci minimises the administrative drain on accounts departments.
FIS/fci is installed on its own separate server (outside of SAP) and reads the content of documents that are received as a scan or as an emailed attachment. The software offers unmatched recognition rates for invoices – lifting both the header and line-item content.
The FIS/fci software is normally paired with FIS/edc (invoice monitor) – to post a high percentage of invoices automatically in SAP without the need for human intervention. The solution is also enhanced with the FIS/fci Email reader – which eliminates the need for printing invoice attachments.
Reading Invoices on Day 1
FIS/fci is pre-programmed to look for specific information fields on an invoice and then extract the relevant data within close vicinity. The ‘freeform’ recognition technology automatically finds the invoice data irrespective of invoice design and layout.
Supplier details and invoice receiver checks are validated against the latest SAP references master file.
Invoices financial values are checked for arithmetic agreement between net, tax and gross values.
Fuzzy technology compensates for incomplete or inaccurate vendor data or poor quality invoice scans.
Several OCR engines are utilised to increase data accuracy.
Any manual confirmations or checks are stored in an intelligent knowledge base for each vendor.
FIS/fci minimises the degree of manual data-entry required and frees up time for the AP team for more value added tasks.
Detailed reports illustrate vendor invoice volumes and data extraction rates for specific fields to identify issues with specific suppliers.
For organisations who wish to make savings and increase automated processes – by significantly reducing the degree of data-entry and manual keying of data into their ERP or Accounts software, whilst at the same time, improving data quality by introducing automated validation and feasibility checks
Documents can be received as emailed attachments or scanned paper documents
The Accounts team becomes more productive as labourious tasks are automated
- Printing and manually keying in data from a physical document
- Checking figures with a calculator
- Slow process of data entry with inherent errors
- Multiple OCR engines – working in agreement
- Automatic recognition of suppliers and company codes
- Automatic forwarding of emailed invoices
- Freeform recognition – FIS/fci is pre-conditioned out-of-the box to search for pertinent financial document data
- Intelligent knowledge base – stores data co-ordinates for all successfully read invoices and therefore reduces the number of corrections in the future
- Reads header and line items automatically
- Contributes to high “blind booking rate ” when combined with FIS/edc (invoice monitor)
- Ability to read any semi-structured document such as sales orders, payment advice notes or vendor statements