In this millennium there are modern equipments like online bill payment, electronic invoicing, and P-card are available that remove the paper based processing from the accounting department. But the fact is these technologies may reduce the paper documents but cannot remove it.

Several companies manufactures data capture solutions specifically developed to convert all the paper based documents into data to sent to the accounting or ERP systems. Large corporations have seen its utility which has increased efficiency of their accounting departments and achieved significant productivity gain in processing their accounts payable and accounts receivable data.

Small business cannot afford the cost of the software. Most of the small companies use software just to scan their paper based accounting documents and manually enter the accounting data into their accounting or ERP system.

Thus it becomes unbearable for small company to buy this software. Moreover your accounting or ERP system must have a compatible interface with the software otherwise it may not run. Sometimes the software couldn’t identify the scanned handmade documents for which sometimes you have to work manually.

Software vendors embraced OCR and ICR technologies into their product to capture the account data accurately from the scanned images; they’re still long way to go to remove the manual process. So still a long way to go to remove manual work.

Thus big companies using an account data capture solution can affordable it and they can justify the cost of managing it. But for small companies it is not an affordable solution and their in-house manual process is not cost-effective and efficient.

Outsourcing to different offshore vendors help a lot to get account processing documents converted to your account or ERP system. They can use their existing infrastructure to send the data to offshore location securely through Internet to be processed by the offshore vendor.

Only change is instead of small business personnel offshore vendor is responsible for converting all the account data from the scanned images to the accounting software or ERP system.

Once they receive the finished files from the offshore vendor, they can import it into their accounting or ERP systems for verification and further processing it.

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