Corcentric adds OCR capture technology

Corcentric has enhanced its Electronic Invoice Presentment & Payment (EIPP) system — a comprehensive approach to electronically managing invoice data, disputes, approvals, payment disbursements, and payment reconciliation — with optical character recognition (OCR) capture technology from ReadSoft.

With the OCR enhancement, Corcentric's EIPP enables the digitization of invoices, speeding the invoice process from end-to-end with little or no human intervention, and with information automatically fed into other systems for spend analysis and other management needs.

“The additional capability that we acquire through ReadSoft's OCR allows us to provide Corcentric users with the ability to digitize their invoices all the way down to the line item detail,” said Dave Lindeen, vice president of sales for Corcentric. “So now users can digitize invoices while retaining all of the detail, greatly increasing the efficiency of accounting and related systems because minimal human intervention is needed.”

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