Why Automate Invoice Reading?
Implementing automated invoice reading (sometimes referred to as Textract) can save your staff significant time by eliminating the time it takes to manually code invoices (sometimes eliminating this process entirely!). This feature will automatically extract key information like invoice numbers and prices to reduce errors and speed up the approval process.
Benefits for Managing Agents:
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Save Time:
- Automatically extract invoice data, reducing the time your staff spends coding invoices.
- Contract Integration: If you use contracts and your contractors include the contract numbers on their invoices, we can automatically assign the invoice to the correct building with the correct expense types, saving you even more time.
How It Works:
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Upload and Review:
- Invoices can be uploaded as usual: by contractor upload, email-in, to a contract, or via Batch Scan.
- The system will automatically extract key data from each invoice where we have a contractor invoice format trained, which you can then review and confirm.
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Assignment:
- If linked to a contract, the system will automatically assign expenses to the correct building and fill in relevant details, sending it straight to the PM to approve.
- Otherwise, this data is added before it’s sent for PM approval.
- Payment is quicker, keeping your contractors happy and inboxes lighter (hopefully!).
Why Consider This Feature?
- Efficiency: Automating this process can save your team hours of work, allowing them to focus on more critical tasks.
- Accuracy: Reduce the risk of human error in invoice coding and ensure that invoices are processed correctly every time.
- Integration: Seamless integration with existing contracts for even greater efficiency.
Get Started: To take advantage of this feature, reach out to us for more information on setting it up.