Austin, TX September 22, 2016 – TAKE Supply Chain™, a division of TAKE Solutions Ltd., today announced enhancements to the company’s flagship OneSCM Solution-as-a-Service (SaaS) platform with the launch of OneSCM® Intelligent Data Capture. Intelligent Data Capture replaces costly manual data entry with efficient automated invoice processing to reduce invoice processing cost, improve payment cycle visibility, and increase financial analysis accuracy.
Accounts Payable (AP) departments typically receive up to 75% of their supplier invoices on paper, according to a past PayStream Advisors survey. As a result, supply chain processes are riddled with manual procedures that are slow, error prone and expensive. Intelligent Data Capture’s end-to-end automation capabilities eliminate previously arduous manual demands – from invoice data entry into the ERP system to data validation using multiple “match” sources – to enable faster payment approval.
“Intelligent Data Capture provides real-time visibility into invoice status and information to all stakeholders so that suppliers no longer have to pick up the phone or email every time they need to confirm an invoice or payment status,” said Steve Rice, Director, Product Management, TAKE Supply Chain. “Additionally, with a complete audit trail, organizations can turn their attention to resolving suppliers’ questions and concerns as they arise, instead of wasting time trying to resolve avoidable data
entry errors.”
Key Benefits of OneSCM Intelligent Data Capture for Customers and Suppliers
- Automate and Accelerate Data-Centric AP Processes: Intelligent Data Capture reduces the time needed to review incoming invoices to find the detailed data that matches required ERP formatted data fields. There is no longer a need to manually transcribe documents into the ERP system.
- Pay Suppliers Faster: Intelligent Data Capture enables early capture of invoices and centralized validation of data. Customers can receive invoices from their suppliers via PDF, paper or scanned image(s) where the data is extracted to generate an electronic invoice. Intelligent Data Capture initiates the AP workflow immediately to automatically process invoice payment.
- Work Smarter & Become More Strategic: The solution reduces manual workflow processing requirements and introduces more sustainable business practices. With direct access to the ERP system via OneSCM, suppliers can gain complete visibility into real-time, on-demand updates regarding invoice and payment status to reduce man-hours spent tracking down AP personnel.
- Real-Time Intelligence Captures Benefits Beyond AP: Whether creating a purchase order, invoice, shipping manifest or receipt, Intelligent Data Capture allows organizations to centralize business process activity and implement a faster and more accurate workflow.
“Intelligent Data Capture represents a powerful next step in providing our customers with a single entry point to automatically transform invoice data of any structure into actionable business-ready data. By enabling early capture of invoices and centralized validation of data, OneSCM heightens its strategic value to organizations, allowing them to reduce the cost of paying an invoice, improve visibility into the payment cycle, enable management by exception and increase financial analysis accuracy,” added Brad Huff, EVP / GM, TAKE Supply Chain.
Available immediately, OneSCM Intelligent Data Capture easily integrates directly into the OneSCM platform for seamless deployment. For more information, visit www.takesupplychain.com.
About TAKE Solutions
TAKE Solutions Ltd. [BSE: 532890 | NSE: TAKE] is a global business technology company that delivers world-class software and services for enterprises across diverse sectors to more than 400 customers worldwide. TAKE Solutions is headquartered in Chennai, India. TAKE’s Supply Chain Domain Excellence Center is in Austin, Texas. TAKE’s OneSCM® and Gemini Series® product suites include distinct technology with embedded IP that delivers expanded supply collaboration, enterprise mobility, material tracking and configurable workflow automation. For more information about TAKE Supply Chain, please visit www.takesupplychain.com. For more information about TAKE Solutions, please visit http://www.takesolutions.com.
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TAKE Supply Chain US Contact: TAKE Solutions India Contact:
Cheyanne Atchley Samhita Suresh
TAKE Supply Chain TAKE Solutions Ltd.
+1 (512) 735-4104 +91 44 24357359
[email protected] [email protected]
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