I&T Solution

Reference No.

S-0408

Solution Name

WCL Optical Character Recognition Solution - Invoice

Solution Description

WCL solution provides an easy-to-use, intelligent software solution for processing invoices. It replaces labour-intensive data input tasks with transparent, manageable, efficient, and automated data capture based on smart document analysis and character recognition. 

ABBYY FlexiCapture for Invoices is a turnkey invoice capture application that reduces inefficiencies, errors, and costs associated with manual invoice processing by eliminating data entry and the physical handling of paper. FlexiCapture facilitates the early capture of invoices, centralized extraction and validation of data, and straight-through processing of PO-based invoices. Based on the powerful technological platform extended with additional functionality, pre-defined settings, validation rules, advanced database look-up and UI enhancements specifically tailored for invoice processing.

Application Areas

City Management
Commerce and Industry
Development
Education
Employment and Labour
Environment
Finance
Housing
Law and Security

Technologies Used

Artificial Intelligence (AI)
Cloud Computing
Data Analytics
Deep Learning
Internet of Things (IoT)
Machine Learning
Mobile Technologies
Natural Language Processing
Robotic Process Automation

Use Case

ABBYY FlexiCapture for Invoices is a key component of a modern accounts payable automation solution. It covers five steps between invoice arrival and posting.

Invoice input
ABBYY’s invoice solution supports multiple input channels like e-mail, web-based invoice scanning, MFP, FTP, mobile capture, fax, etc. It ensures identical document processing independent of form or format.

Classification
Invoice classification technology allows the sorting of documents by types and custom subcategories. The system learns on the fly, enabling fast deployment and higher processing accuracy.

Data recognition, extraction, and validation
ABBYY’s invoice solution identifies and extracts data from relevant invoice fields. It supports country-specific validation rules and an invoice matching against master data in addition to PO matching.

Data review and invoice approval
Data approval processes becomes easier thanks to the intelligent workflow approval that includes automated invoice processing, with the possibility of manual verification by the accountant for missing information, and instant posting for valid PO-matched documents.

Export and archiving
FlexiCapture for Invoices can be easily integrated with ERP systems, financial applications and databases for subsequent invoice data export. Automated indexing of invoices by key fields ensures fast and easy invoice retrieval. Transformation of images into PDF formats meets latest archiving requirements.

Company / Organisation Name

WCL Solution Limited

Email Address

enquiry@wclsolution.com

Telephone Number

24102060

Website

www.wclsolution.com

Address

Room 710, 7/F, Tower 1, Cheung Sha Wan Plaza 833 Cheung Sha Wan Road, Kowloon

If any government department would like to conduct PoC trial or technology testing on the I&T solution, please contact Smart LAB.