Touchless matching substantially reduces the invoice processing labor while improving accuracy. In many environments 70% of PO invoices can be processed automatically.
Slingshot’s supplier portal now permits multiple signed in users for the same supplier. One user, deemed the administrator, is allowed to establish or deactivate other users. This feature puts the supplier in control of who can access the portal and what functions can be performed.
Slingshot has added “intelligent OCR” receipt recognition to its Mobile Expensestm application. Mobile Expenses is available on iOS or Android powered phones. The application allows a user to capture expenses by entering the app and taking a picture of each receipt. An OCR process converts the receipt to text and automatically fills in the expense category, receipt date, description, merchant’s name, credit card # (last 4 digits) currency, and amount.
What sets Mobile Expenses apart is its ability to improve OCR accuracy as each additional expense is captured from the same merchant. The learning process notes the expense category assignment and the location of the key fields on the receipt and uses this information the next time a receipt is processed from the same merchant. Intelligent OCR distinguishes between cash and credit card receipts where the location of the data is often different.
The Mobile Expenses app includes travel policy enforcement, a mileage calculator as well as support for company charges and pre-authorized travel. Once submitted, expense reports requiring approval are routed to all approvers and can be approved in Slingshot’s Mobile Approvalstm application, in an Email notification or on your Slingshot site. Attached receipts are visible on all platforms (mobile and desktop).
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Slingshot’s Strategic Sourcing application (eSource) automates the process of identifying, qualifying and onboarding suppliers. RFx documents can be produced for a set of suppliers. These documents are extremely flexible and can include items to be priced, business terms, documents required and a survey. Supplier responses are recorded in Slingshot’s supplier portal. Responses are scored automatically based on price and survey responses. The RFx can be awarded as a purchase order or a contract.
Slingshot’s Supplier Portal allows registered suppliers to collaborate and add value to the customer relationship. The goal is to promote improved efficiencies for both the supplier and its customer.