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:

Download PDF
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 that have been rejected, everything that’s in progress at the moment within your system, and then process. Process documents meaning invoices that have actually been pushed over to your accounting system. With ReadSoft Online, you also get a repository option, so you can store documents here. I’ll show that here in a bit. But store documents, or invoice documents, or any supporting documentation that has been processed through ReadSoft Online. To jump into the verify screen here, so this is, again, where your AP analyst or clerk will do the majority of the work. You’ll see the values that were extracted off of the document itself to kind of understand, hey, these invoice dates, these invoice amounts, these are values that it correctly extracted off of the document and was able to confidently say, “Hey, this is what I have.” It gives a unique identifier to these documents before you even open them.

To start verifying, I’ll just double-click on the first record here and highlight a few things here. You’ve got your standard browser viewer, so you can zoom in, zoom out, fit to page, fit to height, or width, or anything like that to view the document itself. On the right-hand side, you’ve got a number of different options, but the main one I’m going to call out here is just your verifier form. This is the form where all the extracted values are going to be displayed. You can see here it correctly got the K&K Construction supplier, so that’s great. It also was able to pull off the invoice number. Again, when you select some of these fields here, it will navigate to the point on the document where that information was found. Values that require some kind of attention are kind of highlighted in this triangle warning box here, so an invoice date for instance. You’ll see here when I click on this field, yes, it extracted this date, but obviously this is a very old invoice. Maybe it’s a mom and pop shop that didn’t have an automated invoice process and they just mis-keyed in the date.

We have a validation rule set up to basically say, “Anything older than 360 days,” and this again can be modified, “Please stop this.” For this instance, I’m going to go ahead and enter a date that I know will pass. Again, I just entered in just six characters. If you have an accounting department that is great with a ten key, they can just hit those specific keys for that date, hit enter, and it will automatically format that however you need to format it and process it forward. Again, we have this set up to look for purchase order invoices. Specific to you as a client, if you have a majority of purchase order invoices, we can default it to look for that. If it doesn’t, we can set up rules to basically say, “Hey, process this forward or this supplier requires a purchase order.” In this instance, we don’t have one, so we’re going to go ahead and hit enter. At this point, the okay button is highlighted for us, so we can now process this invoice forward.

Now, depending on how you set this up, or if you have workflows set up for ReadSoft Online, this can either…that information, that header information could automatically go into your accounting system or it can go into a workflow. I’m going to pull up another document here to kind of highlight a few more features. This one, Printers R’ Us, this is a purchase order invoice. You can see here that they’ve got the purchase order number. Based on the purchase order number, it’s able to correctly identify the supplier. The things that it wasn’t quite confident on was the invoice number. You can see here, invoice number, it thought it was this hashtag mark here. To essentially verify this document forward, I’m going to basically double-click on this value here. You can see when I did that, it automatically selected this and validated that field. I’m going to hit enter. Again, we have an issue with the date. It’s older than this amount. It correctly extracted the invoice date, but it just didn’t pass the validation.

Again, I’ll enter that information and process it forward. A few of the things to call out here, this document here didn’t actually get the subtotal or the net amount, so I’m going to highlight this. You have a number of other features other than just double-clicking, so I’m going to double-click here. That’s my net amount. Hit enter. It’s going to take me to a tax amount. It knows there’s tax somewhere on this invoice document, so we’re going to basically swept it. If I hold down control and click and drag, you can actually select the specific fields that you want highlighted. At this point, it’s ready to validate. But there is one other feature I’d like to show for these purchase order invoices, and this is a nice feature specifically for ReadSoft Online, is you have this draw functionality. For purchase order invoices, you can actually click on this and build out your line specifically from an invoice document.

Line PO number would be your actual PO number up here. Your line is line number one. Your article number would be this item field. I’m going to double-click on that. Your description is this XXS toner. Your quantity here. I’m just double-clicking again. Unit measure we already have. Unit price, select here, and your extended amount. It’s a nice feature. Again, you can hold down control and select these values as well. It’s a nice feature to help you build out your lines that you’re going to pair against. Again, this information, when it’s extracted, it’s going to extract this line information and try to compare this versus the purchase order data that is in your host accounting system. Once that’s ready to go, you can push okay. But before we do that, I’m going to highlight a few other features here from the verifier form. A few other tabs you have here, you just have your information tab, which basically has properties. Something helpful here is to call out the original file name the document was captured as.

Since this is a purchase order invoice, you may have receipt documents or packing slips that you’d like to attach. With this, you can add documents that can basically move along with this invoice document so people can reference these additional documents if they need to verify any information on them. You also have a comment box here, so you can leave a comment for users downstream in workflow if they need to have any information readily available to them. If you ac