Optical character recognition or optical character reader (OCR) is the electronic or mechanical conversion of images of typed, handwritten or printed text into machine-encoded text, whether from a scanned document, a photo of a document, a scene photo or from subtitle text superimposed on an image.
Accounts payable (AP) is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents. An accounts payable department's main responsibility is to process and review transactions between the company and its suppliers and to make sure that all outstanding invoices from their suppliers are approved, processed, and paid. The accounts payable process starts with collecting supply requirements from within the organization and seeking quotes from vendors for the items required. Once the deal is negotiated, purchase orders are prepared and sent. The goods delivered are inspected upon arrival and the invoice received is routed for approvals. Processing an invoice includes recording important data from the invoice and inputting it into the company's financial, or bookkeeping, system. After this is accomplished, the invoices must go through the company's respective business process in order to be paid.
An accounting information system (AIS) is a system of collecting, storing and processing financial and accounting data that are used by decision makers. An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources. The resulting financial reports can be used internally by management or externally by other interested parties including investors, creditors and tax authorities. Accounting information systems are designed to support all accounting functions and activities including auditing, financial accounting porting, -managerial/ management accounting and tax. The most widely adopted accounting information systems are auditing and financial reporting modules.
Purchasing is the procurement process a business or organization uses to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations.
Automatic identification and data capture (AIDC) refers to the methods of automatically identifying objects, collecting data about them, and entering them directly into computer systems, without human involvement. Technologies typically considered as part of AIDC include QR codes, bar codes, radio frequency identification (RFID), biometrics, magnetic stripes, optical character recognition (OCR), smart cards, and voice recognition. AIDC is also commonly referred to as "Automatic Identification", "Auto-ID" and "Automatic Data Capture".
Enterprise content management (ECM) extends the concept of content management by adding a timeline for each content item and, possibly, enforcing processes for its creation, approval, and distribution. Systems using ECM generally provide a secure repository for managed items, analog or digital. They also include one methods for importing content to manage new items, and several presentation methods to make items available for use. Although ECM content may be protected by digital rights management (DRM), it is not required. ECM is distinguished from general content management by its cognizance of the processes and procedures of the enterprise for which it is created.
DocuShare® is a content management system developed by Xerox Corporation. It uses open standards and allows for managing content, integrating it with other business systems, and creating customized and packaged software applications.
Tungsten Automation, formerly Kofax Inc., is an Irvine, California-based intelligent automation software provider. Founded in 1985, the company's software allows businesses to automate and improve business workflows by simplifying the handling of data and documents.
Intelligent character recognition (ICR) is used to extract handwritten text from images. It is a more sophisticated type of OCR technology that recognizes different handwriting styles and fonts to intelligently interpret data on forms and physical documents.
ReadSoft was a global provider of applications for automating business processes. ReadSoft was founded by two university students in Linköping, Sweden, in 1991. The company was headquartered in Helsingborg, Sweden and its shares were traded on the NASDAQ OMX – Stockholm Small Cap list. ReadSoft had operations in 17 countries and a partner network in an additional 70 nations.
NetSuite Inc. is an American cloud-based enterprise software company that provides products and services tailored for small and medium-sized businesses (SMBs) including accounting and financial management, customer relationship management (CRM), inventory management, human capital management, payroll, procurement, project management and e-commerce software. NetSuite was founded in 1998 with headquarters in Austin, Texas. The company is widely seen as the first cloud computing software company, with its founding pre-dating that of Salesforce by about a month.
Invoice processing : involves the handling of incoming invoices from arrival to payment. Invoices have many variations and types. In general, invoices are grouped into two types:
- Invoices associated with a company's internal request or purchase order and
- Invoices that do not have an associated request.
Forms processing is a process by which one can capture information entered into data fields and convert it into an electronic format. This can be done manually or automatically, but the general process is that hard copy data is filled out by humans and then "captured" from their respective fields and entered into a database or other electronic format.
Document capture software refers to applications that provide the ability and feature set to automate the process of scanning paper documents or importing electronic documents, often for the purposes of feeding advanced document classification and data collection processes. Most scanning hardware, both scanners and copiers, provides the basic ability to scan to any number of image file formats, including: PDF, TIFF, JPG, BMP, etc. This basic functionality is augmented by document capture software, which can add efficiency and standardization to the process.
Enterprise forms automation is a company-wide computer system or set of systems for managing, distributing, completing, and processing paper-based forms, applications, surveys, contracts, and other documents. It plays a vital role in the concept of a paperless office.
AnyDoc Software, founded in 1989 as Microsystems Technology, Inc., was a company based in Tampa, Florida that developed, sold, installed, and supported enterprise content management (ECM) software which captures data from scanned documents or images into machine-readable text for back-office applications and content/document management systems. The company’s flagship product, OCR for Forms debuted in 1991 after two years of product research and development. AnyDoc Software was purchased in 2013 by Hyland Software, which is best known for its document management and content services software, OnBase. AnyDoc users can find more information about their products on the AnyDoc Community Page.
Digital mailroom is the automation of incoming mail processes. Using document scanning and document capture technologies, companies can digitise incoming mail and automate the classification and distribution of mail within the organization. Both paper and electronic mail (email) can be managed through the same process allowing companies to standardize their internal mail distribution procedures and adhere to company compliance policies.
Corpay, Inc. is a global business payments and spend management company that provides solutions that control expense-related purchasing and payment processes. Corpay is an S&P 500 company with a portfolio of brands that automate, secure, digitize and manage billions of payment transactions annually on behalf of businesses across more than 100 countries in North America, Latin America, Europe, and Asia-Pacific.
Data scraping is a technique where a computer program extracts data from human-readable output coming from another program.
Smartcat is a cloud-based translation and localization platform that connects businesses, translators, and translation agencies in a single Connected Translation delivery loop. The platform positions itself as an "all-in-one" translation platform, combining CAT, TMS, and other translation technologies.
