How Intelligent Document Processing Makes Purchasing Easier for Manufacturers

Managing documents is a time-consuming task in manufacturing operations. From invoices to purchase orders, manual processing takes up valuable time and can lead to errors. Intelligent Document Processing (IDP) transforms how manufacturers handle documents by automating workflows, accelerating data processing, and reducing mistakes for greater efficiency.

With our new document automation tool, Genius IDP, manufacturers can simplify purchasing workflows by quickly and easily processing, organizing, storing, and sharing documents. Fully integrated with Genius ERP, Genius IDP saves time, minimizes errors, centralizes information, and boosts efficiency, all while enabling paperless operations.

What Is Intelligent Document Processing (IDP)?

Intelligent Document Processing (IDP) automates the extraction of data from paper documents or digital images and integrates it into your digital workflows, saving time and reducing manual effort. For example, a purchasing workflow powered by IDP automatically matches invoices to purchase orders and receipts, ensuring accurate and efficient payment processing.

IDP leverages advanced technologies like Artificial Intelligence (AI), Optical Character Recognition (OCR), and Natural Language Processing (NLP) to automate document-related tasks. IDP does three key things:

• Intelligent: IDP uses AI and other technologies to recognize, read, and interpret documents like invoices and purchase orders, no matter their format—structured, semi-structured, or unstructured.
• Document: It handles documents by reading them, extracting the data, and making it usable. All documents are indexed, archived, and made searchable, ensuring they are accessible whenever needed.
• Processing: It automates what a human normally does—taking a document, understanding it, and processing it. By automating these repetitive tasks it saves time and ensures documents are handled with a high degree of accuracy.

Genius IDP

Genius IDP is a powerful web-based tool within Genius ERP designed to simplify and enhance document management. It automates repetitive tasks like processing, filing, archiving, and sharing documents, helping you save time and focus on your priorities.

By extracting critical data and seamlessly integrating with Genius ERP, Genius IDP reduces errors, increases efficiency, and centralizes information. With automated document workflows, Genius IDP enables you to:

• Extract data from documents like invoices, receipts, and purchase orders with accuracy.
• Reduce manual errors by automating validation and approvals.
• Streamline workflows and maintain accurate financial records through seamless integration with Genius ERP.
• Handle hundreds or even thousands of documents efficiently.

How Intelligent Document Processing Benefits Manufacturers

Managing documents manually leads to inefficiencies, errors, and unnecessary costs for manufacturers. Intelligent Document Processing (IDP) offers a more effective solution by automating document handling, improving accuracy, and simplifying workflows.

Here’s why manufacturers should consider adopting IDP:

• Improved Accuracy: Extracts key details from all document types and formats. Unlike traditional OCR, it handles even complex layouts with ease.
• Faster Workflows: Speeds up document processing with automated routing and approvals.
• Reduced Errors: Minimizes mistakes caused by manual processes, ensuring greater accuracy.
• Cost Savings: Eliminates repetitive tasks, freeing up resources for strategic priorities.
• Better Vendor Relationships: Faster processing ensures on-time payments, strengthening supplier relationships.
• Automated Validation: Cross-checks data to flag discrepancies and unusual patterns.

Our First IDP Use Case: Purchasing

Managing hundreds of invoices, receipts, and purchase orders each month can quickly become a bottleneck for manufacturers. This time-consuming process often leads to delays, inefficiencies, and slowed productivity. Genius IDP automates workflows to make purchasing more efficient and streamlines the accounts payable process.

It automates data extraction from invoices—capturing details like invoice numbers, dates, vendor information, and prices—while also handling filing, archiving, and routing for approvals. By reducing manual errors and speeding up document processing, Genius IDP ensures greater accuracy, faster cycle times, and smoother operations:

• Invoice Automation: Invoices received via email or mail are automatically read, classified, and processed.
• Three-Way Matching: The system cross-references invoices with purchase orders and receipts to ensure accuracy.
• Discrepancy Management: Discrepancies, like minor mismatches, are flagged and routed to the right person for review. Small variances can even be approved automatically.
• Centralized Document Storage: All documents, from purchase orders to packing slips, are securely stored and searchable within Genius ERP.

Consider a scenario where your team processes 350 payables monthly. Handling these tasks manually often leads to slower processing times, more frequent errors, and potential payment delays. With Genius IDP, 60-70% of documents are processed automatically, while the remaining 30% are flagged for quick review. This streamlined process ensures smooth workflows, with securely stored documents that are easy to access, creating a more transparent and efficient system.

Conclusion

Genius IDP improves document management for manufacturers by automating repetitive tasks like data entry, document sorting, and processing. Intelligent document processing streamlines workflows, reduces errors, and makes day-to-day operations more efficient. With less time spent on manual processes, manufacturers can boost productivity and focus on what matters most.

Want to learn more about how Genius IDP can simplify your purchasing process and boost efficiency? Watch our webinar to see it in action.