Managing invoices can be a tedious and time-consuming task for any business. Manually entering invoice data is error-prone and inefficient, and it can lead to delays in processing payments and a backlog of paperwork.

NetSuite Bill Capture offers a powerful solution to these challenges by leveraging the power of Artificial Intelligence (AI) and Optical Character Recognition (OCR) technology. This blog post will explore how NetSuite Bill Capture can streamline your accounts payable process and free up your team to focus on more strategic tasks.

What is NetSuite Bill Capture?

NetSuite Bill Capture is a cloud-based solution that automates the process of capturing and processing vendor invoices. With Bill Capture, you can simply email or drag-and-drop your invoices directly into NetSuite. The system then uses AI and OCR to automatically extract key data from the invoices, such as vendor name, invoice date, amount due, and line items.

How Does NetSuite Bill Capture Work?

Once you upload an invoice to NetSuite Bill Capture, the AI engine gets to work. The AI uses machine learning algorithms to identify the different elements of the invoice, such as the vendor name, date, and total amount. The OCR technology then extracts the text from these identified elements and converts it into digital data.

Benefits of NetSuite Bill Capture

NetSuite Bill Capture offers a number of benefits for businesses of all sizes, including:

• Increased Efficiency: By automating the data entry process, NetSuite Bill Capture can save your team a significant amount of time and effort.
• Improved Accuracy: OCR technology can eliminate the errors that are common with manual data entry.
• Faster Processing: Invoices can be processed more quickly with Bill Capture, which can lead to faster payments to vendors and improved cash flow.
• Reduced Costs: By streamlining the accounts payable process, NetSuite Bill Capture can help you reduce your administrative costs.
• Enhanced Visibility: Bill Capture provides you with a centralized repository for all of your invoices, which can improve your visibility into your spending.

The prerequisites for NetSuite Bill Capture are:

Bill Capture is not supported for the Employee Center, Advanced Partner Center, or Vendor Center. Several features must be enabled in your NetSuite account before you can use Bill Capture. There are several permissions required to use all Bill Capture capabilities. The following roles include the above 4 permissions by default:

• Administrator
• A/P Clerk
• CFO
• CEO

To enable features, go to Setup > Company > Enable Features. For more information, see Enabling Features.

To access the Bill Capture Preferences page, go to Setup > Accounting > Bill Capture Preferences.

The steps to upload a bill with NetSuite Bill Capture:

1. Go to Transactions > Payables > Scanned Vendor Bills.
2. Upload the bill by email or drag and drop.
3. Review the bill on the Review Scanned Bill page.
4. Verify the information and make any necessary changes.
5. Click Create Bill to create a NetSuite vendor bill record.

For more details visit https://docs.oracle.com/en/cloud/saas/netsuite/ns-online-help/article_1021105256.html#procedure_1021105301

Conclusion

NetSuite Bill Capture is a powerful tool that can help businesses of all sizes streamline their accounts payable process and improve their financial efficiency. By leveraging the power of AI and OCR, Bill Capture can automate data entry, reduce errors, and free up your team to focus on more strategic tasks.

If you’re looking for a way to streamline your accounts payable process and improve your bottom line, then NetSuite Bill Capture is a solution worth considering.