Over the last year, we have changed our branding from smarter invoicing to a focus on digitizing invoices. We feel that digitizing invoices is a better representation of what OnePosting helps our clients resolve. Our solution is fairly unique in the industry, as we can extract the data from an emailed PDF. right down to the line item from an e-invoice. Here are a few of the main differentiators of the OnePosting solution.
Removing the Manual Mapping and Data Entry from the Accounts Payable Team
OnePosting seamlessly handles the complexity of invoice data extraction through artificially intelligent robotic data extraction software. Below are some accounts payable examples to better illustrate what OnePosting is able to do:
- Some vendors will submit multiple invoice formats and we can process every one that they issue
- Invoices where columns can sometimes be omitted, e.g. quantity, tax – our system is able to infer these values
- Invoices with excessive descriptions where the transaction details can appear at variable locations within the body of an invoice
- Formats where the entire content of an invoice shifts up, down, left or right
- Multiple fonts on an invoice which causes specific challenges when amounts don’t align with labels
We also provide suppliers with the ability to send their invoices digitally into the system very easily. For Accounts Receivable, there are three core ways that we help organizations after digitizing invoices:
- Emailing a PDF. attachment to a specific Acosta labelled OnePosting email address
- Entering their invoice through the Acosta website portal we will set up for suppliers
- Using our PO flip solution to take the Acosta PO and flip it to an invoice by the supplier for submission electronically into the system
Real-Time Invoice Processing
Getting visibility of invoice data to the line item, at the time invoice received, can be very valuable. Here are a few of the ways we process invoicing in real-time:
- 94% of invoices are available in ‘real-time’ which means that decision-making can be improved because up-to-date and accurate information is available
- The remaining 6% of invoices are typically placed in quarantine because of issues such as invalid business unit invoiced, errors on the invoices themselves, or suspected duplicate invoices.
- Vendors can be provided with a ‘window’ to view the progress of their invoices which in turn reduces vendor queries, further leveraging the benefits of ‘real-time’ information.
Advanced ‘Backfill Engine’
OnePosting manages a variety of scenarios where essential data is missing from invoices both for processing and driving key decision making. This functionality is a big differentiator with us and allows us to process a high volume of invoices in a timely manner. Some of these examples include:
- Non purchase order invoicing
- Calculating the tax that applies to transaction lines where this information is not provided.
- Processing discounted pricing where discounts are not specified.
- Estimating a price where only a quantity and line total are provided.
If you would like to understand how OnePosting can assist with digitizing invoices for your organization, book a meeting today with our team!
Want to learn more about how OnePosting can help your business with smarter invoicing?