Invoice reader is a technical term that usually signifies complex software solutions for enterprise Accounts Payable

Accounts payable

Accounts payable is a file or account sub-ledger that records amounts that a person or company owes to suppliers, but has not paid yet , sometimes referred as trade payables. When an invoice is received, it is added to the file, and then removed when it is paid...

 departments data entry business process optimization. The business process optimization is performed through the Invoice processing

Invoice processing

Invoice processing involves the handling of incoming invoices from arrival to post. Invoices have many variations and types. In general, invoices are grouped into two types:1. Invoices associated with a request...

 automation.

Functionality

Those systems functionality normally covers the following scope:

Invoice Reader solution elements
integrate with image documents sources such as scanners, enterprise e-mail servers, fax servers.
perform document characters recognition (Optical character recognition Optical character recognition Optical character recognition, usually abbreviated to OCR, is the mechanical or electronic translation of scanned images of handwritten, typewritten or printed text into machine-encoded text. It is widely used to convert books and documents into electronic files, to computerize a record-keeping...  - OCR, Intelligent Character Recognition Intelligent Character Recognition In computer science, intelligent character recognition is an advanced optical character recognition or — rather more specific — handwriting recognition system that allows fonts and different styles of handwriting to be learned by a computer during processing to improve accuracy and recognition...  - ICR, Optical mark recognition Optical mark recognition Optical Mark Recognition is the process of capturing human-marked data from document forms such as surveys and tests.-OMR background:...  - OMR) with multiple recognition engines
perform the Document classification Document classification Document classification or document categorization is a problem in both library science, information science and computer science. The task is to assign a document to one or more classes or categories. This may be done "manually" or algorithmically...
perform Automatic identification and data capture (also referred to as data extraction, or intelligent document recognition - IDR)
manage the workflow of Document classification Document classification Document classification or document categorization is a problem in both library science, information science and computer science. The task is to assign a document to one or more classes or categories. This may be done "manually" or algorithmically... , validation and exceptions handling, and approval
integrate with line of business enterprise systems (Enterprise resource planning Enterprise resource planning Enterprise resource planning systems integrate internal and external management information across an entire organization, embracing finance/accounting, manufacturing, sales and service, customer relationship management, etc. ERP systems automate this activity with an integrated software application...  - ERP, Customer relations management - CRM, Content Management Systems - CMS, Digital archives...) and deliver the extracted information along with the images

Validations performed on the invoice usually include checks against the Line of Business systems information about vendors, line items (materials and services) bank accounts, contacts information, purchase orders, goods receipts and similar.

Major vendors

vendor	product
Top Image Systems	Invoice Reader solution based on eFLOW product line
Peladon Software	DocXP Invoices
SAP SI	Invoice Reader
Betasystems	Invoice Reader solution based on FrontCollect
Razorsight	Invoice Reader
EMC Captiva	Invoice Reader
Readsoft ReadSoft ReadSoft is a company that develops, markets and supports software that automates the processing of documents, such as invoices, in different business processes and ERP environments within organizations. ReadSoft was founded by two university students in Lund, Sweden, in 1991, both of which are...	Invoice Reader
Brainware Brainware Brainware is an American software company that markets data capture and extraction products. The company spun out of Dulles-based SER Solutions Inc. in February 2006 when SER was acquired by The Gores Group LLC...	IDCDistiller