Award Winning Intelligent Supplier Invoice Automation 

FreeMind for invoices has been specifically designed to automatically process 100% of your supplier invoices. This software solution accepts invoices in all formats ranging from traditional paper sources to electronic formats such as XML, EDI, TIF and PDF. FreeMind for Invoices captures and extracts all information from your supplier Invoices and converts them into electronic transactions, matches them to POs and posts them straight into your Finance/ERP system or electronic workflows for approval and coding, such as non-PO invoices.

Superior automation

Many of our clients have observed that after setting up their FreeMind for Invoices solution, accounts payable staff are able to process as many paper invoices in one hour as they did in an entire day before using the system.

FreeMind for Invoices is a market leading solution which is second to none in terms of reading invoices and extracting critical financial data quickly and accurately. ITESOFT leverages its knowledge based full-text OCR technology to deliver superior data extraction results even on unstructured documents capturing all relevant invoice data, including line items. A key innovation of this software solution has been the ability to learn new supplier invoice formats automatically, removing the costly and labour intensive task of designing templates prior to using the system.

In situations where you may have a high proportion of PO vs. non-PO invoices, automation is further enhanced by our unique matching algorithms that automate processing for PO-based invoices intelligently which has been proven to deliver vastly improved productivity in AP.

Integrates with any ERP system

FreeMind for Invoices not only transfers invoice data into your ERP, but it also uses your master data to validate captured data and ensure invoice compliance prior to uploading.

ITESOFT provides certified integration with SAP and Oracle EBS with its dedicated ITESOFT.Balance modules. For other ERPs, FreeMind for Invoices has connectors for most major ERP software such as Coda, Agresso, Cedar, Lawson, Infor, PeopleSoft, JD Edwards, Microsoft Dynamics & Navision. It is easy to add support for new ERP systems using the new service orientated architecture based integration platform, ITESOFT.Hub.

Unique features at a glance

• Captures invoices and credit notes from paper, PDF, XML,TIF and EDI formats.

• Works without setting up individual supplier templates.

• No separators between invoices required (multi-page invoices are detected automatically).

• Browser-based scan and completion modules enable easy deployment of the solution across remote sites.

• Reads and validates line item data, including on multipage invoices.

• Connects to master supplier data for verification and purchase order matching.

• Suitable for organisations dealing with thousands of suppliers and receiving over 10,000 invoices per day.

• Unique image enhancement algorithms provide unparalleled OCR rates.

• Recreates formatted documents from EDI invoices for easier human interaction.

Standalone or as part of the ITESOFT Purchase-to-Pay Suite

Directly connected to your ERP or existing ECM, FreeMind for Invoices is a valuable asset as a standalone invoice capture solution. This solution is even more powerful when combined with other ITESOFT products in the ITESOFT Purchase-to-Pay Suite. Find out more about the other components of the suite.

Calculating ROI and appreciating the true value

Direct hard savings

• Increased AP staff productivity

• Reduced cost of moving, storing and accessing documents

• Fewer errors and related costs

• More early payment discounts captured

Indirect soft savings

• Better control over the accounts payable process

• More time for staff to spend on value-added tasks

• Improved relationships with suppliers

• Overall business acceleration

Most FreeMind for Invoices clients reach ROI in less than one year.