According to The Hackett Group, organizations that automate invoice processing spend less than one third to support the accounts payable process, and Intelligent Data Capture solutions are one of the strategies that help drive such efficiency improvements.

While the term Intelligent Data Capture is relatively new, these solutions are the next evolution of Optical Character Recognition which has been around for many years.  As its name implies, Intelligent Data Capture solutions go beyond simply translating images into text.  These solutions leverage intelligence, system integration, and enhanced functionality to drive greater recognition rates, auto-population of data fields, account coding, and validation of invoice information, all resulting in efficiency improvements well beyond what could be achieved through optical character recognition.  Intelligent Data Capture solutions are also applicable in driving efficiencies across other document-driven back office processes beyond accounts payable.