By automating invoice processing, the Mayo Clinic hopes to rid itself of the costs and errors associated with manual processing.
Mayo Clinic has chosen to use Brainware's intelligent data capture and workflow management solutions to automatically recognize and capture specific invoice information to feed into its back office accounting system.
"It is exciting to see our solutions adopted by Mayo Clinic, one of the world's most respected healthcare services providers," says Carl Mergele, Brainware CEO. "It shows that our customers increasingly see the value of an integrated approach to document processing. Brainware is responding to this demand by offering state-of-art data capture, workflow and search solutions operating on a single platform."
Brainware's intelligent data capture (A/P-distiller) will help the Clinic to handle accounts payable in less time, reducing errors and delayed payments to earn prompt payment discounts while improving process transparency to help better manage cash flow and maintain audit trails.
The A/P-distiller cuts costs by using learning technology to "read" and "interpret" invoices for sorting, data extraction and processing that otherwise would have been done manually.
Brainware's workflow management solution, WF-distiller, will aid the Clinic in more accurate document processing by delivering the right information at the right time to the right people and places. It works to increase productivity by automatically posting extracted data to enterprise resource planning systems/finance systems.
"Intelligent capture solutions are critical for automating high-volume business processes such as accounts payable," says Melissa Webster, Program VP at IDC. "Wherever business processes move in and out of paper, there's a tremendous ROI opportunity if you can automate. Capture is one of the fastest growing segments of the overall content management market."
Mayo Clinic is the first and largest integrated, not-for-profit group practice in the world and is made up of more than 3,300 physicians, scientists and researchers and 46,000 allied health staff work. Mayo Clinic has sites in Rochester, Minn., Jacksonville, Fla., and Scottsdale/Phoenix, Ariz. Collectively, the three locations treat more than half a million people each year.