Comments on: billFLO: an old idea that keeps coming around http://www.accmanpro.com/2009/04/21/billflo-an-old-idea-that-keeps-coming-aorund/ Thu, 09 Feb 2012 10:01:51 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Mark Davies http://www.accmanpro.com/2009/04/21/billflo-an-old-idea-that-keeps-coming-aorund/comment-page-1/#comment-6196 Mark Davies Wed, 22 Apr 2009 00:19:30 +0000 http://www.accmanpro.com/?p=4612#comment-6196 @Dennis - No such assumption on my part. We already support fully-electronic invoices in Scandinavia and will do in other geographies too. It's my feeling that OCR is still a worthwhile investment of development resources because of the vast number of companies/bookkeepers who will continue to deal with invoices for some time to come. @Dennis – No such assumption on my part. We already support fully-electronic invoices in Scandinavia and will do in other geographies too. It's my feeling that OCR is still a worthwhile investment of development resources because of the vast number of companies/bookkeepers who will continue to deal with invoices for some time to come.

]]> By: Krupo http://www.accmanpro.com/2009/04/21/billflo-an-old-idea-that-keeps-coming-aorund/comment-page-1/#comment-6195 Krupo Wed, 22 Apr 2009 00:00:09 +0000 http://www.accmanpro.com/?p=4612#comment-6195 "the paper copy can be destroyed once it has been scanned and uploaded to the accounting system." People with a fine paranoia of audits simply won't do that.... ;) "the paper copy can be destroyed once it has been scanned and uploaded to the accounting system."

People with a fine paranoia of audits simply won't do that…. ;)

]]> By: Dennis Howlett http://www.accmanpro.com/2009/04/21/billflo-an-old-idea-that-keeps-coming-aorund/comment-page-1/#comment-6194 Dennis Howlett Tue, 21 Apr 2009 23:56:09 +0000 http://www.accmanpro.com/?p=4612#comment-6194 @mark - you're making the erroneous assumption that most SME's will not see the value in on-demand options that allow electronic file creation and transmission. It's already happening. Of course the Sage die-hards are going to be with us for a while but they will fade away. Far better to offer a slicker method of operating from the get go and especially in challenging times? @mark – you're making the erroneous assumption that most SME's will not see the value in on-demand options that allow electronic file creation and transmission. It's already happening. Of course the Sage die-hards are going to be with us for a while but they will fade away. Far better to offer a slicker method of operating from the get go and especially in challenging times?

]]> By: Mark Davies http://www.accmanpro.com/2009/04/21/billflo-an-old-idea-that-keeps-coming-aorund/comment-page-1/#comment-6193 Mark Davies Tue, 21 Apr 2009 23:44:09 +0000 http://www.accmanpro.com/?p=4612#comment-6193 An electronic standard is a great ideal, but most SME's will continue to receive paper or paper-based image invoices for the forseeable future, hence our focus on getting OCR to work. It really streamlines the processing and approval of supplier invoices. Eliminating paper is a key part of this - ideally, the invoices will be received as images, but even if they are sent in paper form the paper copy can be destroyed once it has been scanned and uploaded to the accounting system. An electronic standard is a great ideal, but most SME's will continue to receive paper or paper-based image invoices for the forseeable future, hence our focus on getting OCR to work. It really streamlines the processing and approval of supplier invoices.

Eliminating paper is a key part of this – ideally, the invoices will be received as images, but even if they are sent in paper form the paper copy can be destroyed once it has been scanned and uploaded to the accounting system.

]]> By: ian http://www.accmanpro.com/2009/04/21/billflo-an-old-idea-that-keeps-coming-aorund/comment-page-1/#comment-6192 ian Tue, 21 Apr 2009 22:47:47 +0000 http://www.accmanpro.com/?p=4612#comment-6192 Mark, billFLO supports OCR of pdf's as well. We believe there is a place for OCR but frankly, it doesnt make sense in the long run. Why use paper as the interface between systems that are already electronic? That said, from e-conomic's perspective, I woud think it makes sense to support as many ways as possible to get the data into the system. Ian Mark,

billFLO supports OCR of pdf's as well. We believe there is a place for OCR but frankly, it doesnt make sense in the long run. Why use paper as the interface between systems that are already electronic?

That said, from e-conomic's perspective, I woud think it makes sense to support as many ways as possible to get the data into the system.

Ian

]]> By: Dennis Howlett http://www.accmanpro.com/2009/04/21/billflo-an-old-idea-that-keeps-coming-aorund/comment-page-1/#comment-6191 Dennis Howlett Tue, 21 Apr 2009 22:11:32 +0000 http://www.accmanpro.com/?p=4612#comment-6191 The problem with OCR is that it can be error prone but I've not seen comparative stats comparing machine to machine and OCR so not sure what the comparative error rates look like. Even so, I wouldn't be a fan of OCR unless I could dispense with paper along the way. I've not had a printer for 3+ years :) The problem with OCR is that it can be error prone but I've not seen comparative stats comparing machine to machine and OCR so not sure what the comparative error rates look like. Even so, I wouldn't be a fan of OCR unless I could dispense with paper along the way. I've not had a printer for 3+ years :)

]]> By: Mark Davies http://www.accmanpro.com/2009/04/21/billflo-an-old-idea-that-keeps-coming-aorund/comment-page-1/#comment-6190 Mark Davies Tue, 21 Apr 2009 21:24:51 +0000 http://www.accmanpro.com/?p=4612#comment-6190 We're working on OCR technology which reads standard invoices. The obvious advantage being that you don't need to force a standard invoice format, simply scan paper invoices or have your supplier send their invoices directly into your accounting system inbox as an image. The OCR technology usually needs a little training on the first invoice from each supplier, but after that it's able to process future invoices from the same supplier automatically. The training part can be accomplished by the bookkeeper. The outcome of all training is stored in a central knowledge base of all suppliers, which in SaaS terms means everyone who's using the same accounting software, so that the system quickly builds up an extensive set of definitions covering the most common supplier invoices. We're working on OCR technology which reads standard invoices. The obvious advantage being that you don't need to force a standard invoice format, simply scan paper invoices or have your supplier send their invoices directly into your accounting system inbox as an image.

The OCR technology usually needs a little training on the first invoice from each supplier, but after that it's able to process future invoices from the same supplier automatically. The training part can be accomplished by the bookkeeper.

The outcome of all training is stored in a central knowledge base of all suppliers, which in SaaS terms means everyone who's using the same accounting software, so that the system quickly builds up an extensive set of definitions covering the most common supplier invoices.

]]> By: ian http://www.accmanpro.com/2009/04/21/billflo-an-old-idea-that-keeps-coming-aorund/comment-page-1/#comment-6189 ian Tue, 21 Apr 2009 17:43:44 +0000 http://www.accmanpro.com/?p=4612#comment-6189 [oops, posted this on EI site - should have posted here first!] Dennis, you've honed in on some important points. As you say, there's more to the life of an invoice than getting the invoice data to the other side. There's the aggregation of the data that goes into the data on the seller side, and the review-approve-reconcile cycle that needs to happen on the receivers side. There are many great tools out there for those needs (Aggregation: Harvest,Freshbooks, Timeslips, etc. Approval:bill.com, beanbills, etc) We made a conscious effort not to do that and to focus on eliminating the manual handling and data entry, i.e. bridging the accounting systems of the buyer and seller. So you're absolutely right when you say we're the Switzerland (although I prefer to say Ireland!) in that we're neutral. We'll get the data there so you can use your choice of system to run you business. thanks Ian Sweeney CEO, Anoowa Inc, Developers of billFLO P.S. @Martyn: I'm told the industry term for when your big vendor or supplier says you have to use their EDI is... the "EDI Bomb"! [oops, posted this on EI site - should have posted here first!]

Dennis,

you've honed in on some important points. As you say, there's more to the life of an invoice than getting the invoice data to the other side. There's the aggregation of the data that goes into the data on the seller side, and the review-approve-reconcile cycle that needs to happen on the receivers side. There are many great tools out there for those needs (Aggregation: Harvest,Freshbooks, Timeslips, etc. Approval:bill.com, beanbills, etc)
We made a conscious effort not to do that and to focus on eliminating the manual handling and data entry, i.e. bridging the accounting systems of the buyer and seller. So you're absolutely right when you say we're the Switzerland (although I prefer to say Ireland!) in that we're neutral. We'll get the data there so you can use your choice of system to run you business.

thanks
Ian Sweeney
CEO, Anoowa Inc, Developers of billFLO

P.S. @Martyn: I'm told the industry term for when your big vendor or supplier says you have to use their EDI is… the "EDI Bomb"!

]]> By: Martyn Shiner http://www.accmanpro.com/2009/04/21/billflo-an-old-idea-that-keeps-coming-aorund/comment-page-1/#comment-6188 Martyn Shiner Tue, 21 Apr 2009 10:32:51 +0000 http://www.accmanpro.com/?p=4612#comment-6188 Dennis, I like the comment "The ideal scenario is where invoices seamlessly flow between buyers and sellers, much as happens with EDI" I have direct experience of this - and 'seamlessly' is not a word I would use to describe EDI - nightmare more like! Martyn Dennis,

I like the comment

"The ideal scenario is where invoices seamlessly flow between buyers and sellers, much as happens with EDI"

I have direct experience of this – and 'seamlessly' is not a word I would use to describe EDI – nightmare more like!

Martyn

]]> By: Krupo http://www.accmanpro.com/2009/04/21/billflo-an-old-idea-that-keeps-coming-aorund/comment-page-1/#comment-6187 Krupo Tue, 21 Apr 2009 05:31:36 +0000 http://www.accmanpro.com/?p=4612#comment-6187 Think how much more deliciously straightforward the audit work would be too. I recall sitting in a cramped cell reviewing invoices. Oh what joy it was to flee. Think how much more deliciously straightforward the audit work would be too.

I recall sitting in a cramped cell reviewing invoices. Oh what joy it was to flee.

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