Scan One

Scan One is an automated accounts payable solution offered by Symbeo that aims to streamline invoice processing and payment workflows. According to the vendor, this tool is suitable for businesses of all sizes, ranging from small enterprises to large corporations. It is designed to provide efficiency and accuracy to finance and accounting departments, procurement teams, accounts payable professionals, CFOs, financial executives, and business owners across various industries.

Key Features

Automated Invoice Processing: According to the vendor, Scan One automates the invoice processing workflow, reducing the need for manual data entry and improving efficiency. It utilizes AI-enhanced OCR and machine learning to extract data from invoices accurately and quickly. The solution eliminates the need for paper invoices and enables digital processing, potentially saving time and reducing costs.

Data Capture and Extraction: The vendor claims that Scan One's advanced technology captures and extracts data from invoices, including invoice numbers, dates, amounts, and line item details. It is designed to ensure high accuracy in data extraction, minimizing errors and improving data quality. The solution is said to be capable of handling various invoice formats, including scanned paper invoices and electronic invoices.

Invoice Validation and Verification: According to the vendor, Scan One validates and verifies invoice data against predefined rules and matches it with corresponding purchase orders, contracts, and other relevant documents. It aims to identify discrepancies and exceptions, reducing the risk of errors and ensuring accurate invoice processing. The solution provides real-time notifications and alerts for invoice discrepancies, enabling timely resolution and potentially preventing payment delays.

Approval Workflow Automation: The vendor states that Scan One streamlines the approval workflow by automating the routing and approval of invoices. It allows for configurable approval rules and workflows based on the company's specific requirements. The solution provides a centralized and secure platform for managing approvals, ensuring transparency and accountability.

Integration with ERP Systems: According to the vendor, Scan One seamlessly integrates with various ERP systems and P2P platforms, enabling smooth data exchange and synchronization. It eliminates the need for manual data entry into ERP systems, potentially reducing errors and saving time. The solution aims to ensure data consistency and accuracy across systems, improving overall financial processes.

Supplier Portal: Scan One offers a supplier portal that, according to the vendor, provides visibility to suppliers on invoice status and facilitates communication with the accounts payable department. Suppliers can access payment information, submit invoices electronically, and track the progress of their invoices. The portal is designed to improve collaboration between suppliers and the company, enhancing the overall supplier relationship.

Payment Automation: The vendor claims that Scan One offers simple and secure electronic payment options, reducing the manual effort and time required for payment processing. It supports various payment methods, including check, ACH, and virtual card payments. The solution aims to help optimize payments, improve cash flow management, and reduce the risk of payment errors.

Reporting and Analytics: According to the vendor, Scan One provides robust reporting and analytics capabilities, offering insights into invoice processing performance, payment trends, and vendor spend. It generates customizable reports and dashboards, allowing users to track key metrics and make data-driven decisions. The solution aims to help identify process bottlenecks, optimize workflows, and improve overall accounts payable efficiency.