Invoice Scanning

What is Invoice Scanning?

Invoice scanning is the process of using technology, typically optical character recognition (OCR) software, to convert printed or handwritten invoices into digital format. This technology allows businesses to automate the extraction of relevant data from invoices, such as invoice number, vendor details, dates, line items, and amounts.

In NetSuite, invoice scanning can be handled by native SuiteApp like ZoneCapture, an AP automation solution that ingests invoices and then uses Optical Character Recognition (OCR) technology and GenAI to automatically scan and recognize relevant data in the invoice.

Related terms

Bill Capture

Bill capture, also known as invoice capture, refers to the process of extracting data from incoming bills, invoices, or purchase documents and converting it into a digital format that can be processed and managed electronically within an organization's accounting or enterprise resource planning (ERP) system.

Cash Conversion Cycle

The cash conversion cycle (CCC) measures the rate at which your business converts its investments and inventory into cash.

Cash Flow Coverage Ratio

A company’s cash flow coverage ratio (CFCR) clarifies its ability to pay its debts based on cash flow from operations.

Cash Flow Optimization

This strategy focuses on maximizing the inflow of cash while efficiently managing outflows to maintain a healthy liquidity position.

Cash Flow from Operations

Cash flow from operations measures the money a business generates from day-to-day activities, usually over a quarter or fiscal year.

Consolidated Invoicing

Consolidated invoicing, also known as centralized billing or grouped invoicing, is a billing process in which multiple transactions or charges incurred over a specified period are combined into a single invoice for payment.