SAN DIEGO (PRWEB)July 07, 2022
ancora Software, Inc., a global leader in intelligent process automation solutions including Intelligent Document Classification and Advanced Data Capture, announced today its flagship product ancoraDocs is processing over three million invoices annually for a single customer. ancora customers are now processing invoices representing over $50 billion in annualized transactions amid rapid continued growth for the company.
This customer, a publicly traded construction materials supply company generating $20 billion in annual revenue looked at multiple capture vendors and settled on ancoraDocs for faster, more accurate invoice processing at lower cost. Invoice processing represents a significant overhead cost for many businesses. Traditionally a manual process, invoice processing can drive up operating costs and create friction in key vendor relationships when processing timelines lag. Manual data entry can result in errors that can cost a business time and money. ancora Software provides specially designed software tools to eliminate both the costs and errors of processing invoices in all forms—paper and electronic. Wrong or missing data is automatically flagged through built-in exception handling tools, allowing users to focus only on issues that need attention. ancora Software’s patented unassisted and assisted machine learning algorithms continuously learn, helping customers achieve performance metrics like 85% reduction in processing time, 65% lower processing costs, and 95% fewer errors.
“By adopting ancoraDocs this customer is now realizing significant operational transformation and efficiencies in their AP department,” ancora Software CEO Noel Flynn said. “ancoraDocs enables businesses to automate data capture, reduce manual labor, and expedite processing time—all mission-critical for companies to realize the potential of new tools and smarter workflows. ancora is helping to lead the way to the future through customer success stories like this.”
About ancora Software
ancora Software, Inc. is an innovative provider of Intelligent Process Automation solutions including Intelligent Document Classification and Data Capture. Its flagship product, ancoraDocs, simplifies document capture. ancora Software’s patented artificial intelligence and machine learning technologies help organizations eliminate costly manual steps in their business processes such as document classification, document analysis, manual data entry, and manual filing. Organizations using ancora Software achieve faster and less expensive business process automation and better controls over their mission-critical information. Headquartered in San Diego, CA, ancora Software maintains sales and support operations throughout North America and in the United Kingdom.
For more information about ancora Software, Inc. visit http://www.ancorasoftware.com