HP and ReadSoft Automated Invoice Processing Solution

HP and ReadSoft Automated Invoice
Processing Solution
Despite a global movement toward a paperless business environment, paper documents remain the predominant
method of doing business. Information-intensive organizations are flooded with paper each day from suppliers,
vendors and customers. Forward-thinking organizations are digitizing, centralizing and archiving key business
documents—from contracts and sales orders to invoices and human resources documents—to improve efficiency,
reduce costs and facilitate corporate compliance efforts.
What if you could…
• Capture critical business documents at remote
locations using your existing HP multifunction
printers (MFP) or single-function scanners and
feed that information directly into enterprise
resource planning (ERP) systems such as SAP?
• Streamline the handling of invoices, purchase
orders and other paperwork to speed
administration processes and document
retrieval capabilities?
• Accelerate your invoice payment processes,
gain early-payment discounts and improve
visibility to enterprise spending?
That’s alternative thinking about printing.
HP and ReadSoft solutions at a glance
HP and ReadSoft ® solutions, powered by HP multifunction printers and single-function scanners,
automate invoice capture and distribution across the organization. Accounts payable functions can
dramatically boost the turnaround time and accuracy of processing customer invoices with your
existing SAP applications. What’s more, with ReadSoft’s invoice processing, your finance and
administration teams can capture, interpret, validate and verify accounts payable information
contained in printed invoices.
Here’s how it works: After a document is scanned into the INVOICES application, the Interpret module
looks for key information and data, such as company name and logos, invoice and purchase-order
numbers, payment information as well as specific line item information. Next, in the Verify module you
can, if necessary, correct and complete the captured information. Finally, the data is transferred to the
INVOICE Cockpit application for validation, matching against purchase orders, coding and approval
processing inside your SAP application. And the entire process takes a matter of seconds.
Whether you need basic optical character recognition (OCR) capabilities for distributed capture
of key documents, or the more sophisticated capture and workflow functionality provided by
ReadSoft's invoice processing, HP and ReadSoft solutions can deliver the flexibility and scalability
to transform your paper-based workflows into a seamless electronic process.
Technology for better business outcomes

Figure 1. Automated document capture
HP MFP to SAP
Image files
Extract
Workflow
• Validation
• Confirmation
• Approval
Automated posting
Archiving
Verify
HP MFP
Invoices
INVOICE Cockpit
HP and ReadSoft
solutions at work
around the world
A large communications company saw a 40
percent increase in the number of invoices it
processed after it completed an acquisition. The
organization looked to accelerate processing
times, cut down the number of keystrokes each
invoice required, and streamline its accounts
payable operations. After deploying ReadSoft
software, the company saw a significant uptick
in accuracy—nearly 80 percent of the processed
invoices were able to bypass the Verify module—
and a dramatic drop occurred in the number
of keystrokes per invoice. As a result, the organization
was able to redeploy accounting staff to
other value-added positions.
Why HP and ReadSoft?
HP is a globally recognized leader in imaging and printing solutions for large organizations.
ReadSoft is a world-class provider of document automation solutions. Working closely with
ReadSoft, HP can help identify the right set of solutions to fit your organization’s specific needs
today—and into the future. Our combined expertise, and reliable products and solution sets allow
our customers to benefit from:
• Consulting services, including procurement, installation, management and support that can
be customized to enhance your organization’s effectiveness
• Powerful solutions to optimize your environment, improve the bottom line and help the planet
How do you get started?
Contact your local HP representative to:
• Set up a workshop with HP to assess your specific business needs.
• Establish a plan to implement the best solution for today and into the future.
• Identify an environmental approach that can help your company save money.
To learn more, visit www.hp.com/go/gsc or www.hp.com/large/ipg.
HP three-part approach
HP works with you to assess, deploy and manage an imaging and printing environment tailored to meet your business needs, while helping you
reduce costs, conserve resources and simplify document-intensive processes. Our three-part approach:
Optimize infrastructure Manage environment Improve workflow
HP can help you achieve a balance between
your total cost of printing and your needs for
user convenience and productivity.
Working together, HP can help you maintain
your optimized infrastructure while improving
business efficiency and tightening security.
By streamlining your document-intensive
processes, HP can help you deliver a more
efficient environment for capturing, managing
and sharing information.
© Copyright 2008 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties
for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed
as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.
4AA2-0775ENW Rev. 2, November 2008
To learn more, visit
www.hp.com/go/gsc
Technology for better business outcomes