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Trapeze

Automated Solutions for Invoice Processing

Trapeze for Invoice Processing

Processing invoices, when handled manually, is an expensive and time consuming function for any organization. With an invoice processing system from CVISION Technologies, organizations can process invoices automatically, reducing accounts payable (AP) costs while improving both the accuracy and the speed of data extraction.

Being able to process paper-based invoices quickly and accurately is an important element for the success of any organization. As invoice processing costs escalate, organizations implementing an automated invoice processing system can realize financial benefits faster and yield a real, tangible ROI. CVISION's Trapeze for Invoice Processing contains an intelligent recognition server capable of automatically interpreting the relevant information and fields within a image-based invoice, in real-time.

Realize a Measurable ROI with Automation

Introducing a tool to automatically extract information can improve the accuracy and speed of invoice processing, while reducing the overhead costs of accounts payable. Traditionally, processing invoices has been a manual, paper intensive task. Invoices are received in the mail, forwarded to the accounts payable department, and entered manually into the AP system. This procedure is expensive, time consuming, and error-prone.

With CVISION's Trapeze for Invoice Processing, the entire process can be streamlined. Invoices can be handled programmatically by extracting relevant information from the invoices. A process that was previously handled by several employees can now be completed more effectively in a fraction of the time. By reducing the amount of time taken to manually enter information, organizations can realize a measurable ROI in a short period of time by the reduction of manual processing costs, early payment discounts, and improved vendor relationships.

Powerful but yet Simple to Use

Trapeze for Invoice Processing allows organizations to process invoices and AP documents, regardless of their source, format or location. By using CVISION's self-learning technology organizations are able to eliminate time consuming invoice templation. Organizations can also streamline invoice matching and validation to reduce manual steps and errors. Other benefits include reducing costly manual data entry by more than 80%. Using CVISION's QuickStart program users can start processing files from day one and begin to achieve an ROI in less than 6 months.

Most Accurate OCR in the Industry

Realize the most accurate data extraction by using CVISION's highly accurate, multi-engine OCR. CVISION's unparalleled data extraction knowledge base allows organizations to leverage more than 50,000 vendor invoices to reduce manual correction from day one. Prep time can be reduced by using advanced auto splitting technology to split invoices and other accounts payable documents accurately. Trapeze enables organizations to dynamically increase data extraction accuracy through our auto-templation and advanced machine learning technology.

Trapeze Enterprise: An Industrial Strength Solution

Trapeze Enterprise edition is specifically designed for large organizations needing an industrial strength solution. Users can process a high volume of invoices and AP-related documents per day. They are also able to monitor the status of invoices in real-time. With Trapeze Enterprise, organizations can keep track of every document activity using the Trapeze administrator dashboard audit trail feature. Other features include adding additional document types to further automate your organization's AP department. Trapeze Enterprise allows setting up business rules for each document type, configuring complex document processing workflows with ease, including automated classification and routing. Trapeze integrates seamlessly with your organization's AP system.

Easy Integration into the Accounting Process

Trapeze offers organizations the ability to integrate into their existing workflow. Data extracted from invoices can be integrated through desired specifications. Once the data is extracted, it can be outputted into industry standard formats including XML or CSV.

Trapeze for Invoice Processing will automatically detect invoices with missing or incorrect data in critical fields; these invoices are flagged and sent to Trapeze's exception handling bucket, while the rest of the invoices are processed.

Advanced Machine Learning

Leverage advanced machine learning to continuously improve recognition rates. CVISION's expert learning system gets smarter over time yielding more extraction and automation. As more invoices are processed, and corrections are made, CVISION's system uses a feedback loop to learn and understand invoices.

Calculating the Value of an Automated AP System

According to industry studies, the cost of manually handling an invoice from start to finish is estimated to be $30-$50 per invoice. By automating pieces of the process, the cost per invoice can be reduced by more than 30%. Consider the following example to help understand the value in real terms: Organization A processes 15,000 invoices a year at an average cost of $30/invoice. Using conservative figures, Trapeze can reduce the cost of each invoice processed by $5. Therefore, if 15,000 invoices are processed in a year, organizations can save $75,000 in the first year. These figures can be scaled up or down based on volume.

Why Automate Your Invoice Processing with Trapeze?

  • Reduce Manual Entry Costs:

    Automating the accounts payable process can dramatically reduce the costs associated with manually entering invoices. After implementing an automated invoice processing system, it will take a small fraction of the time and amount of employees to process the same amount of invoices.

  • Improve Invoice Processing Accuracy:

    An automated system will yield more accurate results than manually processing invoices. By automating the accounts payable process, human keying errors will be eliminated. Inputting inaccurate data from an invoice can be very costly; invoice amounts can be keyed incorrectly or invoice numbers can be wrong. These inaccuracies can result in overpayments and countless employee hours spent resolving the issues with vendors.

  • Accelerate Invoice Turnaround and Benefit from Early Payment Discounts:

    Manually processing an invoice typically takes organizations 10 days. Many vendors offer discounts for paying invoices early. With an automated system in place, invoices can be processed and paid more quickly. With Trapeze for automated accounts payable, organizations can start taking advantage of early pay discounts.

  • Improve Vendor Relationships:

    By accurately paying invoices faster, organizations can improve relationships with vendors creating leverage to negotiate better prices or terms.

  • Create a Measurable ROI:

    Automating an accounts payable system can positively impact an organization's bottom line. Organizations can save money by reducing the amount of time employees spend manually entering data, saving money on early payment discounts, and accurately paying invoices in a timely fashion. All these factors add up to savings which quickly cover the cost of implementing an automated solution.

Trapeze Enterprise: An Industrial Strength Solution

Trapeze Enterprise edition is specifically designed for large organizations needing an industrial strength solution. Users can process a high volume of invoices and AP-related documents per day. They are also able to monitor the status of invoices in real-time. With Trapeze Enterprise, organizations can keep track of every document activity using the Trapeze administrator dashboard audit trail feature. Other features include adding additional document types to further automate your organization's AP department. Trapeze Enterprise allows setting up business rules for each document type, configuring complex document processing workflows with ease, including automated classification and routing. Trapeze integrates seamlessly with your organization's AP system.

Why Trapeze for Forms?

Organizations encounter numerous forms and paper documents on a daily basis, yet many organizations still continue to manually process these documents. This process requires employees to manually key data into a database, which can be time consuming, expensive, and error-prone. With a proper automated forms processing system in place, organizations can realize a significant ROI through reduced data entry processing costs, while also improving processing speed and accuracy.

CVISION's Trapeze for Forms Processing automatically extracts relevant field-data from structured forms. Once Trapeze for Forms Processing captures the extracted data, it processes and validates the information and then outputs this information into a document database. Trapeze for Forms Processing differentiates itself by being a powerful, industrial strength, yet very easy to use software solution for automated forms processing. Organizations can easily leverage this robust software solution to process structured documents immediately.

Reduce Manual Data Entry

Manually entering data from captured documents is a time consuming and expensive business process. Most organizations do not consider the time and expense associated with correcting and monitoring a poor performing form processing system. Organizations who utilize Trapeze for Forms Processing require only a fraction of the employees to process the same amount of forms. In many instances, a team of employees entering information can be reduced to a single employee overseeing the entire process. This allows other employees to re-focus on more value-added tasks, producing a concrete, measurable ROI.

Trapeze for Forms Processing's superior accuracy and validation ensures data is extracted properly the first time, every time. With CVISION's superior engineering and Trapeze's XML-based control, our forms processing system can be designed for your needs - fully automating your document workflow.

Powerful Recognition for Maximum Efficiency

An automated forms processing system is only as strong as the accuracy of its recognition engine. When the recognition process is unreliable, data cannot be automatically identified and extracted. Lack of OCR recognition, particularly with respect to form/data separation, can significantly reduce the degree of touchless automation that the system can achieve.

With the highest OCR accuracy rates in the industry, Trapeze for Forms Processing eliminates the hassle of data-entry and limits the necessity of data validation and correction in document workflow. The system is built on a powerful recognition engine, comprised of the most accurate OCR engine available, check box barcode, and signature detection recognition.

Trapeze for Forms Processing combines high accuracy recognition with the flexibility of an XML-based solution. Trapeze for Forms Processing can serve as a standalone product or be engineered to integrate within an organization's current document management workflow. With Trapeze for Forms Processing, features and options can be fully customizable for the most optimal automation settings.

Advanced Image Processing for Improved Recognition

Through advanced image processing, Trapeze for Forms Processing can produce a higher quality image document for better recognition rates. With Trapeze for Forms Processing, images are deskewed and despeckled for enhanced document quality. Our Trapeze software supports a wide spectrum of image processing features including auto-rotation, auto color inversion, auto-cropping, and color re-sampling. Trapeze for Forms Processing utilizes advanced image processing functionality, including accurate text background segmentation for enhanced image quality and improved recognition rates.

Why Automate Your Forms Processing with Trapeze?

  • Powerful but Simple to Use:

    Trapeze for Forms Processing can support structured forms such as HCFA, W2, survey, questionnaires or Purchase Order forms, regardless of their source, format, or location. By using CVISION's intuitive user interface, organizations can eliminate time consuming coding templates. Benefits include reducing costly manual data entry by more than 80%. CVISION's Trapeze for Forms Processing enables organizations to start processing files from day one, achieving an ROI within a month.

  • Most Accurate OCR in the Industry:

    CVISION's highly accurate multi-engine OCR enables organizations to leverage the most accurate data extraction software available. CVISION has an internal data extraction knowledge base of several thousand form types to reduce manual form setup and correction from day one.

  • Industrial Strength, Scalable Solution:

    Trapeze for Forms Processing supports a multi-user environment to view and validate documents, processing tens of thousands of documents per day. Trapeze for Forms Processing enables users to monitor the status of documents in real-time. With the Trapeze Administrator Dashboard, users can keep track of all document activity and add additional document types. Trapeze for Forms Processing also enables users to set up business rules for each document type, which can significantly reduce manual intervention by auto-validating fields, and even entire forms. Our Trapeze software integrates seamlessly with systems using the most common output formats such as XML and CSV.

The following solutions are available with Trapeze Recognition Server:

  • Automated Document Classification
  • Automated Forms Processing
  • Automated Invoice Processing
  • Document Automation
  • Mailroom Automation
  • Automated Data-Entry Software
  • Accounts Payable Automation
  • Handwritten Recognition
  • Cover Page Recognition
  • Printed & Barcode Recognition
  • Document Redaction

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