xbound for Invoice

Self-learning processing of paper-based & electronic invoices

Incoming invoices cost time and money. Once they’ve landed in your inbox, they not only have to be paid, they first have to be captured and processed. Traditional manual processing of invoices is extremely time- and effort-consuming. Capturing, checking, validating and allocating all take a lot of time. Plus, you may pay a high price for errors made during manual typing in of information or even loss of an invoice. Possible cash discounts are not even taken advantage of, as the processing of invoices could possibly take too long. But why invest all the unnecessary and, at times, high amount of time and effort into manual capturing and processing?

An intelligent, digital processing of incoming invoices optimises your business processes within the Accounting department. Our solution offers you the chance to benefit from a continually digital processing stream – so you can minimise processing times, take advantage of cash discounts and reduce costs.

xbound for Invoice

With our xbound for Invoice solution, the procedures for the processing of incoming invoices – regardless of whether they are in paper or electronic form – are digitalised and automated. Invoices on paper are scanned, while electronic invoices are directly read. The important content is extracted, automatically compared with bookkeeping and inventory control data, and then validated via a pre-defined set of rules. 

Within the verification client, the data read is checked and, if necessary, corrected. The result: all invoice information is captured, checked for its plausibility and validated. The invoice data is then exported via an interface to the checking and approval workflow, enabling the next procedures to begin without any loss in time.

The recognition rate is continually optimised via the self-learning reader for invoice layouts of every creditor. xbound for Invoice automatically recognises and processes invoices by new suppliers and identifies invoice formats which have changed for existing suppliers. This maximises the precision of invoice recognition in day-to-day operations and successively reduces incidental manual capturing. 

xbound for Invoice supports non-order-related invoices (e.g. in SAP FI), order-related invoices (e.g. in SAP MM), individual and bulk invoices, domestic and foreign invoices as well as credit memos.

The range of automatically read fields includes the entire invoice content as well as creditor and invoice recipient, CPD creditors, accounting area, payment terms and conditions, header and footer data, order numbers and additional costs. xbound for Invoice provides both the necessary specialist- and tax-relevant rules for interpreting invoices as well as a pre-defined set of rules for validation (e.g. maximal discrepancies for orders, VAT payments, totalisations, VAT conformity, etc.).

Your advantages:

With xbound for Invoice, we offer you an all-in-one solution which is well established on the market.
Together with our partners, we also provide you with all the necessary workflow systems for any further incoming invoice processing as par for the course. Simply speak to us about them – we’re happy to advise you.