House of Fraser Takes Stock with ITESOFT

Monday 3 November 2003 00:03 CET | News

ITESOFT UK has supplied House of Fraser with its new document management solution, ITESOFT.FreeMind for Invoices, in a drive to speed up the processing of over 300,000 supplier invoices a year.

House of Fraser, Britains leading retailer of designer brands with 49 stores nationwide, including; Rackhams, Binns, Cavendish House and Dickins & Jones has implemented ITESOFT.FreeMind for invoices in a bid to automate the processing and retrieving of all its supplier invoices, internal expenses and indexing of business critical data. Previously all invoices, along with any attachments, that relate to the supply of goods, expenses and ongoing refurbishment were manually keyed in, scanned and then stored for legal and audit purposes in a document management system that contains upwards of seven million pages. In a move away from time-consuming data verification and retrieval, ITESOFT.FreeMind for Invoices will extract data from incoming invoices using OCR and shape recognition technologies. The data will be validated and then passed automatically to DIDOS for invoice matching or Oracle 11i for payment and consolidation with the group accounting system. Specifically designed for the automatic processing of supplier invoices, ITESOFT.FreeMind for invoices part of the ITESOFT.FreeMind suite, captures data and is then able to identify, index, and recognise it automatically. It then stores the business critical information in an accessible electronic format that can be fed into the businesses workflow environment.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce

Industry Events