What’s Intelligence Got to Do With It?

Complex environments (such as those created by the increase in work from home employees) cause challenges with collaboration and efficiency within organizations. This influences the growing importance of and desire to transition from physical files and processes to digital content. Companies going digital in their accounts payable departments need to consider the most efficient and cost-effective solutions for their business. A study by Levvel Research showed that nearly 1/3 of companies are looking to tech-driven products based on artificial intelligence and automation because they help overcome challenges and prove significant ROI.

Automation and artificial intelligence play key roles in business continuity, employee productivity, and reducing operational costs as organizations look to the future of work. Because of this, it is important to consider the best, most efficient option to automate your business’ accounts payable processes.

When evaluating AP automation solutions, particularly those that include Optical Character Recognition (OCR) for invoice data extraction and indexing, it’s important to understand the full scope of what’s required to implement and configure the software to work with your vendor invoices. Automatic OCR is designed to boost efficiency by reducing errors caused by manual data entry. However, it’s time to go beyond basic automation with intelligence added to your data indexing.

This whitepaper explores the concepts of traditional OCR and intelligent data extraction, their differences, and how to make an informed decision about your AP automation solution.

Download the complete whitepaper to learn more about ktIQ and intelligent data extraction.

If you’d like to learn about how AP automation, enhanced with ktIQ, can work for your organization, fill out the form at the bottom of this page.