Expediting and Improving Accounts Payable Through Optical Character Recognition (OCR)

Finance and accounting teams are vital parts of the information ecosystem that helps drive decision makers. Business leaders need accurate and real-time information to drive agility and innovation. Yet this is often stifled through outdated manual processes in essential finance processes like accounts payable and accounts receivable.

SAPinsider’s recent AI & Automation in Finance benchmark research report found that one of the top ways that companies are improving their operations is finding ways to increase productivity of F&A teams by hyperautomating repetitive and manual tasks. It was one of the top responses, highlighted by 45% of respondents.

Streamlining Finance Processes through OCR

One of the best ways organizations are streamlining essential finance processes is through Optical Character Recognition (OCR) technology.

OCR is able to recognize text and other scanned images and automatically convert them into formats suitable for searching and editing. While this technology in and of itself is exciting, it requires a suite of complimentary tools for organizations to derive the full suite of capabilities they need.

Many companies that use SAP are turning to organizations like xSuite and its OCR solution to have fast and accurate invoice entry and processing. xSuite provides not only OCR, but an all-in-one system that scans and recognizes images and documents, offers image storage, and monitors invoices in one cohesive and streamlined process. Users can rely on a single, unified interface that bundles the vital workflows of invoice processing.

xSuite offers users access to an intelligent capture system that merges an accurate OCR tool with a complex set of rules. The solution works out of the box, providing immediate value. Other solutions have longer time to value as they require users to train the templates for invoices from new partners.

The OCR solution from xSuite is built to integrate with SAP systems, as well as other major ERPs. Because it is integrated into the ERP, the data extracted from the OCR technology is cross verified with master data to ensure accuracy before entering the system. The integration also simplifies the process of integrating all financial information, ensuring that companies can cut down on the time it takes in between receiving a document and generating actionable insights for business leaders.

What This Means for SAPinsiders

Time to value can always be faster. In 2025, businesses around the world have a seemingly unlimited list of priorities and areas for potential investments and very limited budgets. Organizations must seek out solutions that provide demonstrable results quickly, justifying investment and allowing these departments to receive budget allocations that help them to drive further value.

Integration and Alignment. While there are a host of technological capabilities like OCR that may seem exciting on their own, the reality is that they cannot function effectively if they are not properly integrated into overall financial workflows and systems. SAP organizations rely on xSuite because of its integration with SAP, as well as its ability to monitor and process invoices.

Actionable insights drive innovation. Organizations need real-time data to respond to market forces. Yet many companies are still bogged down by manual data extraction processes. Leading organizations are automating and streamlining these processes to reduce the time it takes to attain these insights.