Multi Award Winning Invoice Processing Automation

With ITESOFT.FreeMind for Invoices you can make the switch to processing 100% of your supplier invoices electronically from day one. This software solution accepts invoices in all formats ranging from traditional paper sources to native electronic formats such as XML, EDI, and PDF. ITESOFT.FreeMind for Invoices converts supplier invoices into electronic transactions, matches them to POs and posts them straight into your ERP or electronically workflows them around your organisation for approval and coding, such as for non-PO invoices.

Superior automation

Many of our clients have observed that, after setting up their FreeMind for Invoices solution, accounts payable staff is able to process as many paper invoices in one hour as they did in an entire day before using the system.

ITESOFT.FreeMind for Invoices is second to none in terms of reading paper invoices quickly and accurately. ITESOFT leverages its proprietary full-text OCR technology to deliver superior data extraction results even on difficult documents. FreeMind for Invoices captures all relevant invoice data, including line items. The solution even learns new supplier invoice formats automatically so you don’t have to spend time designing templates prior to using the system.

In situations where you may have a high proportion of PO vs. non-PO invoices, automation is further enhanced by our unique matching algorithms that automate processing for PO-based invoices intelligently and delivers vastly improved productivity in AP.

Integrates with any ERP system

ITESOFT.FreeMind for Invoices not only transfers invoice data into your ERP, but it also uses your master data to validate captured data and ensure invoice compliance prior to uploading.

ITESOFT provides certified integration with SAP and Oracle EBS with its dedicated ITESOFT.Balance modules. For other ERPs, FreeMind for Invoices has connectors for most major ERP software such as Infor, PeopleSoft, JD Edwards, Microsoft Dynamics. It  is easy to add support for new ERP systems using the new SOA-based integration platform.

Unique features at a glance

• Captures invoices and credit invoices from paper, PDF, XML and EDI formats.

• Works without setting up individual supplier templates.

• No separators between invoices required (multi-page invoices are detected automatically).

• Browser-based scan and completion modules enable easy deployment of the solution across remote sites.

• Reads and validates line item data, including on multipage invoices.

• Connects to master supplier data for verification and purchase order matching.

• Suitable for organisations dealing with hundreds and even thousands of suppliers and receiving hundreds and even thousands invoices per day.

• Unique image enhancement algorithms provide unparalleled OCR rates.

• Recreates formatted documents from EDI invoices for easier human interaction.

Standalone or as part of the ITESOFT Purchase-to-Pay Suite

Directly connected to your ERP or existing ECM, ITESOFT.FreeMind for Invoices is a valuable asset as a standalone invoice capture solution. This solution  is even more powerful when combined with other ITESOFT products in the ITESOFT Purchase-to-Pay Suite. Find out more about the other components of the suite.

Product capabilities

The overall workflow in FreeMind for Invoices covers the entire invoice integration cycle:

1. Capture and collect paper and e-invoices

2. Extract and validate invoice data with ERP

3. Export pre-validated invoices to ERP, workflow and ECM

Calculating ROI and understanding the true value

Direct hard savings

• Increased AP staff productivity

• Reduced cost of moving, storing and accessing documents

• Fewer errors and related costs

• More early payment discounts captured

Indirect soft savings

• Better control over the accounts payable process

• More time for staff to spend on value-added tasks

• Improved relationships with suppliers

• Overall business acceleration

Most ITESOFT.FreeMind for Invoices clients reach ROI in less than one year.