Why businesses need to capture line-level data from their documents
Blog //06-09-2022

Why businesses need to capture line-level data from their documents

by Stewart Jacobsen, Alliance Director

When it comes to processing documents, most businesses use header-level information to match the minimum information needed to complete the process. Although this level of detail is adequate for some basic processes, accessing line-level data can empower businesses to optimise their operations.

Inefficient processes

In most companies, invoice processing looks like this:

  1. A business receives invoices from suppliers.
  2. At the end of the month, the accounts payable (AP) team picks up these invoices.
  3. They check that each purchase order (PO) matches the invoice amount in their accounting system before passing it through.

This process is semi-automated, but only captures minimal, header-level data. As an invoice might have 30 separate lines, the valuable and detailed line-level data is lost. This is a missed opportunity, denying decision-makers key information to optimise the business. Without line-level data, businesses can’t gain a clear picture of their costs.

Not having the right information holds organisations back from making decisions, creating strategies, improving productivity, and gaining insight. It’s a problem we’ve seen in numerous industries:

Construction

In construction, it’s common for companies to issue many ‘blanket’ POs for building materials. We’ve heard management at a multi-million-pound construction business say they don’t know how much cement they buy.

Hospitality

Detail is also crucial in the hospitality industry. Advanced recently spoke to one of the world’s largest hotel chains, with a yearly turnover of billions. Despite ordering a huge volume of foodstuffs, the company was unable to issue POs for specific quantities of ingredients, instead sending them in £500 or £1,000 tranches.

Pharmaceutical

Intelligent data capture can also make a difference to customers. In the pharmaceutical industry, sales orders containing lifesaving drugs must be sent quickly. To prevent potentially fatal delays, companies must assume all orders contain lifesaving drugs. Automating document processing can significantly speed things up.

Get data you can trust

Advanced Data Automation processes invoices in real time, 24/7. It guarantees 100% data accuracy from processed documents, within minutes of receipt. The system can manage header-level invoices, line-level invoices, and even more complex documents such as supplier statements. It means you get data you can trust, when you need it.

Gain visibility and control

Improve decision-making and support your strategic goals. Get the information you need to optimise your purchasing behaviour, negotiate better pricing and diversify risk.

Prevent fraud

According to pymts.com, as many as half of UK firms are vulnerable to invoice fraud. Capturing line-level data makes it easier to spot fraudulent invoices  providing extra peace of mind.

Grow your business

Manual invoice processing is slow, error-prone, and requires a team of AP staff. Advanced Data Automation frees up your staff to focus on more impactful tasks – and frees up your business to scale, with a solution that scales with you.

Talk to Advanced

To discover how Advanced Data Automation can help you achieve your goals, get in touch today at oneadvanced.com/contact-us

Blog Brand
Stewart Jacobsen

Stewart Jacobsen

PUBLISHED BY

Alliance Director

Stewart Jacobsen, Alliance Director, has been with working with Advanced Data Automation for over three years and specialises in financial process automation. His career spans over 20 years working with European and global shared services centres. Stewart understands the needs organisations have to constantly deliver innovation and competitive services to their internal customers by automating process utilising leading technology.

Read published articles