When asked what benefits they wanted from AI, the overwhelming majority of those surveyed cited productivity, wanting the ability to automate and reduce time around routine tasks. And 74% expect AI innovations to help accounting and finance the most. This release addresses those expectations with enhancements to NetSuite Bill Capture.
The NetSuite Bill Capture(opens in new tab) feature captures vendor invoices more quickly and with fewer errors by eliminating manual data entry and automating the invoice capture process. Invoices are scanned and AI-based document object detection and optical character recognition automatically extract needed information to populate the bill record. The system then matches invoices with associated purchase orders and receiving documents to check that pricing, quantities, and totals are accurate.
In NetSuite 2024 Release 1, additional fields–including PO number, memo, posting period, discount date, and custom segments–have been added to the Review Bill page. In addition to greater flexibility to suit a company’s specific needs, these updates provide a more comprehensive and accurate bill creation experience. When Bill Capture intelligence is given more data to work with, it decreases the likelihood of bill creation failure or needed edits after creation.
NetSuite 2024.1 enhancements also bring a better user experience to Bill Capture. The option to filter by vendor, upload source, and email source have been added to the Scanned Vendor Bills page. Particularly for those with a large number of uploaded bills, these new filters allow for easier searchability with the option to filter by source and vendor either simultaneously or separately.