Save Time with Automated Creation of POs from Scanned Invoices
Have you faced the situation when you receive a vendor invoice for an order that doesn’t have a dedicated PO in your accounting system? Maybe you placed that order over the phone or email and forgot to create a PO? Field Materials’ AI technology automatically scans the invoice and creates a PO at a click of a button, helping you save the time needed to manually enter data.
What Happens Today
Consider this scenario: a foreman needs materials ASAP, so he calls the supplier to place a quick will call order for the materials he needs. The very same day, he goes and picks up the materials. It is so quick that nobody bothers to create a purchase order. 10-15 days later you get an invoice for this. As a Purchaser or Project manager, you get asked to review the invoice. Now you have to retroactively create a purchase order for this. You have to enter all of the item names, quantities, units of measurement, and prices. You will also have to assign all the items to the correct cost codes and manually specify any additional charges such as freight or handling fees as well as the sales tax. This manual data entry can easily take 15-20 minutes. 15-20 minutes of busy work that eats into your valuable work day!
How Technology can Help
Field Materials uses computer vision to automatically scan a vendor invoice and create a PO without manually typing item descriptions, quantities, units of measurement, or prices. It also automatically recognizes previously seen material names and can automatically assign them to the correct cost codes as well auto-calculate the sales tax. Finally, it automatically prefills the freight and shipping charges based on the information in the invoice and selects the right vendor and job number. All you have left to do is confirm the order and click Submit! Optionally you can also sync this order to your accounting software. Right there Field Materials saved you 15-20 minutes of your work day. Now how many of such invoices do you have to deal with every month? You can do the math and see how much time our software will save you with just this one feature!