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May 19th 2020 @ 3:30pm GMT (5:30pm CET; 11:30am EST; 8:30am PST)

Accounts Payable Automation: Beyond OCR, highlight on PO Matching

Speaker(s): Joe Siegal & Michael Deitche

Got invoices to process? Of course! Businesses and organizations of all types pay invoices for goods and services purchased.

Industry sources quote a variety of invoice processing cost estimates such as, Research firm Sterling Commerce puts the average cost of processing an individual invoice at between $12 and $30. Other firms narrow this gap to between $12.90 and $15. Some place it as high as $40. Yet, even such high average costs hide the disproportionate cost of exception processing!

IRIS’ answer for Accounts Payables goes beyond OCR with additional intelligence and logic to improve AP department metrics, even tackling exceptions and troublesome invoices other software can’t.

We will share survey data showing that PO Matching errors alone represent the majority of all PO invoice exceptions, robbing the AP team of precious time and resources to remediate. We will show how IRISXtract addresses this with built-in capability.

You will see IRISXtract process invoices that would be impossible for other solutions.

Digitization alone is better than paper – intelligence and process logic deliver true transformation!

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