Intelligent OCR

Why manual invoice entry holds back NetSuite users

Many finance teams still key invoice details by hand from paper, or scan paper and map the fields manually. Intelligent OCR is EchoVera's invoice capture product for NetSuite, and the company presents it as the next step beyond standard optical character recognition. It locates and extracts the data with AI, so mapping work that once took staff time is done by the system.

What is captured and how it reaches NetSuite

The product reads the header and every line item of an invoice. It takes invoices directly from email, which removes the need to print them, and it also scans paper invoices and picks out the relevant fields. Captured fields are validated against the rules a customer sets, and the results reach NetSuite as structured records. The company says the integration needs no development work on the customer side.

Approvals and the audit trail

Invoices are sent to the right approvers through an automated workflow. Each step is recorded with a time stamp, which gives an audit trail. Captured invoices are also kept in a searchable archive in the cloud, so past bills can be found without a paper filing exercise.

Accuracy and price positioning

The company says invoice data from paper and email invoices is captured with about 95 percent accuracy, and that electronic files are read with complete accuracy. Those figures are the vendor's own. The company describes the product as one of the most affordable intelligent OCR options on the market.

Variants for other accounting systems

EchoVera offers versions of the capture product for Dynamics, SAP, Infor Cloudsuite, Intacct and Sage. The wider range includes AP automation, three-way purchase order matching, requisition and purchase order automation, and sales order automation. The company traces its experience to more than 30 years of work on the financial operations of clients worldwide.