In this post, I’ll wrap up several core components and improvements that we developed and added to Ocerra AP solution in the last couple of months.
We’ve been working hard, and now it is time to show our progress and how you can benefit from it. Let’s get started.
To view a more detailed list of features and improvements, please refer to our monthly release notes here.
High system stability
One of the biggest achievements over the years is our system stability. In 2020 we documented 99.9% uptime throughout the whole year for Ocerra. The system was never down for our customers during the business hours. It is consistently stable, and we are very proud that we can keep it this way.
Increased quality of data extraction
The quality of data extraction is one of the key priorities of an AP automation solution. Every single AI-driven OCR engine requires some manual intervention before invoices are ready for export to the accounting or ERP system. At Ocerra, we are aiming to reduce this intervention to a minimum.
We are continually working on enhancing our data extraction engine using the latest technology available. Microsoft Cognitive Services is one of the newest tools added to our data extraction set. It is elegantly integrated to work together with Amazon Textract and kicks in whenever it is failing, and other way around. Is happens instantaneously and invisible to the end-user. As a result, Ocerra is capable of extracting data from the most complex invoice layouts and reducing manual intervention time.
Example of the invoice where no manual intervention required. All the data extracted correctly including purchase order and item code match on the first and second pages on every single line:
You can find the full list of data extracted and coded by Ocerra here.
Electronic invoice approval
Ocerra has an advanced approval module that allows to promptly track and approve invoices as long as you have access to the internet.
In our traditional setup, an invoice approval workflow is configured to automatically route invoice based on the business logic. It works great for many businesses.
However, we came across a new scenario, where this type of automation is not always an option. For example, if a supplier used in various projects within one company. It requires an AP person to review an invoice based on the line-level content before allocating an approver. Now, this option is available in Ocerra:
A list of authorised approvers is available per supplier.
Processing credit notes with more options
While Ocerra always had an option to process credit notes, it wasn’t working for everyone. The credit note can be posted with or without an invoice linked to it.
You can learn more about credit notes here.
Custom dashboard
Custom dashboard component allows to program up to four custom “buckets” to promptly review invoices filtered into each bucket automatically. The programming of each bucket is based on the data extracted from the invoice and/or approval information.
Please note, it replaces your current Ocerra's dashboard, for example:
Functionality to calculate non-standard GST rates
Some businesses require to calculate a non-standard GST rate on invoices. For example, Financial Services can claim X% on expenses only. A reverse tax calculator has been added to allow recalculating NET and GST on the invoice before posting to the ERP system.
Example:
You can learn more about calculating a non-standard tax rate in Ocerra here.
MYOB Advanced integration
MYOB Advanced is out latest out-of-the-box integration. We added a number of features to suit different business scenarios. To name a few:
Projects, tasks and sub-accounts can now be auto-coded in MYOB advanced using purchase order match in Ocerra.
Sub-accounts can auto-fill per supplier too.
New control parameters have been added
We also competed MYOB Advanced developer certification:
Ocerra’s support and knowledgebase
Our knowledgebase has evolved, and we keep updating it weekly.
Our support hours expanded to accommodate Australian based customers.
What’s next?
We are working on several projects, including ERP integrations, to offer Ocerra to many other businesses.
Mobile application for invoice approval is underway. Please except the first version in the next 4-6 months.
To keep an eye on our monthly updates, subscribe to our blog.
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