Payable Invoice Scan App (PISA)
The automating solution for your payable processes.
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What is PISA?
The combination of Optical Character Recognition (OCR) technology and native integration with FinancialForce Accounting makes processing payable invoices easier than ever before.PISA users experience a reduction in 80% of processing time.
The PISA app is implemented for 27 customers across 7 countries and processes over 10,000 purchase invoices every month, some customers processing up to 1,600 per month.
The goal of PISA?
The PISA app reduces the time to create and post a payable invoice (PIN) in FinancialForce using the information recognized by the OCR and reviewed by the finance user. Integration with FinancialForce’s Purchase Orders (PO) provides significant flexibility in the configuration allowing simple to complex approval processes, purchase price variances, multiple POs linking to one PIN amongst others.
Let's take a closer look:
The PISA process starts once your vendor sends a Payable Invoice to be paid to your tailored email address created for you such as firstname.lastname@example.org. Each company in your FinancialForce org will have their own email address. Allocation between companies can be changed by finance users if required.
Upon receipt of a vendor invoice by email, PISA creates for each invoice an Invoice ScanRecord (note that PISA can be set to exclude attachments below a certain size).
The OCR process scans the invoice identifying bank account numbers, purchase order numbers, invoice numbers, invoice dates, invoice totals with and without tax.
The results automatically update FinancialForce and delete the file from their system ensuring the privacy of your data.
Once the results are ready, a scheduled job in our app will retrieve the results and input the recognized data to the Invoice Scan Records.
PISA will search for the correct vendor Account Record. This is done using fields like IBAN, Tax Registration Number, Vendor email or even the vendor's name. PISA can also be configured to use customized criteria to match vendors according to your needs.
The finance user then reviews the data, makes any corrections if necessary and submits the invoice Scan Record for approval.
Once the Invoice scan is approved, the app posts the approved PIN, thereby creating the transactions and opens it up for payment.
The final step is to select the posted PIN and add it to the payment proposal.