Watch the Demo: Kofax ReadSoft Online

Kofax’s ReadSoft Online (RSO) is a cloud based (SaaS) invoice processing automation solution that can be rapidly deployed and has a low support and maintenance cost for most customers. Watch demo and Contact Us for more information or to schedule a live demonstration.

Transcript:

Alex:
Hello and welcome to another demonstration video with RPI Consultants. My name is Alex Lindsey. I’m a Senior Solution Architect and today I’ll be demonstrating ReadSoft Online. Just a very quick product recap or overview. ReadSoft Online is a cloud-based subscription service that is to be used for automating your invoice processing. It has an advanced OCR engine to extract — OCR meaning, of course, optical character recognition — to extract invoice data off of your invoice documents, validate that against your host accounting system, and then push that invoice record into your accounting system to be paid. There is a workflow component as well, which I’ll jump into. But essentially this tool is meant to give your users, your accounting department the ability to automate invoice processing where things could potentially be slowing down.

The first thing I’ll call out here, this is your landing page. As part of your subscription service, you are given access to this URL for ReadSoft Online, where essentially your users can login, and verify, and do the activities that they need to do. First, we’re going to login as clerk1. This would be your standard AP analyst or AP associate, someone that’s essentially going to go in and verify the invoice documents that have been captured. To touch on the capture process, first, there’s a number of ways to capture documents within ReadSoft Online. If you have a large paper presence, you can scan documents into a shared network folder, at which point a service offered by ReadSoft Online will go and grab those documents and push them into the cloud environment where it will go through the extraction process. You can also email an invoice. This is the preferred method.

If you have suppliers that are emailing in invoices, you could essentially set up a mailbox that can be monitored and can grab attachments from that mailbox, or from those emails to essentially pull those invoice documents in for extraction. You also have the ability from here, and this should be used more as a one-off situation where potentially maybe invoices were handed off between departments or something like that, where you can upload documents here as well to go through the extraction process. Main point being, you have a number of different options to automate and capture documents into ReadSoft Online. After documents are captured, it will go through the OCR in the extraction process. What’s happening on the backend, and I’ll show you the result of that here in a second, but what’s happening on the backend, essentially the document comes in.

The advanced OCR engine is going through that document and trying to extract invoice number, invoice date, supplier information, purchase order information, and verifying that information that it extracted against your host ERP system. Does this vendor exist? Does this purchase order exist? Is it tied to the correct vendor? All of that is happening on the backend of this system. Now, things that it’s not confident about will pop over to this verify [screen]. I’ll walk through this very shortly and then we’ll jump into an invoice and actually verify. Anything that went through the OCR extraction process, and validation, and failed for any reason really. This could be that the image quality wasn’t great, or it didn’t pass a specific validation rule, or the supplier doesn’t exist, for instance, will stop here in the verify. This is where your AP analyst will go and do the majority of their work.

You also have a number of different other options here, so in a workflow process you can see documents that are assigned to you, ones t