How does data capture technology work?
Since the dawn of business, people have been tracking their finances and spending time painstakingly recording each receipt, whether writing onto a ledger, or in more recent years, by typing manually into computer software. It can take up a lot of unnecessary time. Thankfully with automated data capture, spending hours on your bookkeeping is now a thing of the past.
By using data capture technology, you can capture, upload, review, approve and submit expenses in real-time, anywhere. The software processes receipts and gets them ready to upload into your cloud accounting software, seamlessly bringing these two technologies together.
You can upload your receipts in a way that suits you – by taking a picture on your phone, forwarding emails directly from suppliers, or scanning in. They can even be downloaded directly from suppliers that have linked to Receipt Bank, HubDoc or AutoEntry.
Manually storing invoices and receipts can be risky, laborious and expensive. By using data capture, all of this information can be safely stored and accessed at the touch of a button. Likewise, as this technology is web-based, documents and approvals can be shared and approved quickly and easily.
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