Elevate Your Efficiency: Embrace Invoice Capture in D365 Finance

Date Published: 19 February 2024
Tags: D365, D365 Finance, Invoice Capture, Microsoft Dynamics 365 Finance

Is your accounts department bogged down by the manual processing of vendor invoices? Human errors can inevitably creep in, causing delays and additional work. The quest to eliminate these challenges has led us to the revolutionary Invoice Capture feature in Microsoft Dynamics 365 Finance. Let’s delve into how this first-party solution from Microsoft, driven by Artificial Intelligence (AI) and Machine Learning (ML) technologies, is reshaping the accounts payable landscape.

Understanding Invoice Capture

Many 3rd Party Applications have been developed to automate this process, but the Invoice Capture Solution is a first-party solution from Microsoft that automates the entire accounts payable (AP) invoice to pay process using Artificial Intelligence (AI) and Machine Learning (ML) technologies called Optical Character Recognition (OCR) and Robotic Process Automation (RPA). As this is a First Party Solution it reduces the risk and extensive testing currently needed for 3rd party products with separate upgrade cycles.

In this blog we will explain what Invoice Capture is and how it works in D365 Finance.

What is Invoice Capture and how does it work?

The solution automatically generates vendor invoices in D365 Finance from digital invoice images. Using OCR, it extracts crucial data such as vendor details, invoice number, date, amount, and line items. RPA comes into play to match this data with purchase orders, identify exceptions, correct errors, and update financial records. Invoice Capture supports various invoice types and formats, reducing the need for extensive human intervention.

Benefits of Invoice Capture

Invoice Capture can help you save time, reduce errors, and improve cash flow by automating the following tasks:

  • Scanning invoices as they arrive via multiple channels.
  • Extracting and validating invoice data using AI and ML
  • Continuous learning to improve accuracy as more invoices are processed – as you are learning the Invoice Capture – the Invoice Capture is learning from the documents processed!
  • Matching invoices with purchase orders and applying invoice policies.
  • Handling exceptions and data errors using predefined rules and workflows.
  • Transferring invoices to D365 Finance for payment processing
  • Storing invoice images and attachments in Azure Data Lake Storage and visible from the Vendor invoice within D365 Finance.

Setup and Licencing

The Invoice Capture Solution is built within the Power Platform and seamlessly integrates with D365 Finance so Power Apps licencing will be required (as the Invoice Capture Workspace is within PowerApps) as well as AI Builder Licensing.
Additionally, roles will need to be considered for users depending on their function:

  • Administrator – To set up and deploy environments in Microsoft Power Platform, set up connections between D365 Finance and AI Builder, set up Azure Data Lake Storage locations, and install Invoice Capture.
  • Environment maker – To create custom AI models and create flows in Power Automate.
  • AP admin – To set up and configure Invoice Capture in D365 Finance.
  • AP clerk – To review and correct captured invoices in Invoice Capture.

The solution offers rapid deployment, and our team is ready to guide you through the setup, deployment, and day-to-day use.

Conclusion

Invoice Capture emerges as a robust solution, empowering organizations to automate accounts payable and streamline invoice processing. By embracing the latest AI and ML technologies, this tool accelerates vendor invoice processing, allowing your team to redirect their focus to more strategic tasks. If you’re keen to explore Invoice Capture or witness a live demonstration, our team is here to assist.

A Microsoft Partner like SIS Global can help you keep abreast of the latest updates and enhancements made to Microsoft Dynamics. We make it our business to stay ahead of these features so our customers can stay on top of their business.

Contact us here to get in touch with a member of our team for more information.

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