We know a lot of accountants. And they are not happy. Despite living in the 21st century they still must manually retype information from bills and invoices into ERP systems. We are going to solve this problem and make them happy with DataMolino.
Small and medium businesses are retyping data from invoices into their economic systems despite the fact that the same invoices were generated electronically. Why is that ? Paper based communication is a problem. Electronic PDF invoices are replacing paper but only solve half of the equation. There is no way to directly import the data contained within an electronic PDF invoice into an economic software. That is why even electronic PDF invoices must be retyped in order to be used in the accounts payable process when accounting for the invoice. Large enterprises use expensive EDI systems that are connected to their suppliers or rely on costly OCR technology to extract the data from the invoices to streamline their processes. The small and medium businesses do not have access to this technology due to high set-up costs or technological barriers.
With DataMolino we aim to automate the inbound invoice process. DataMolino will process all your incoming bills and invoices, store them in complaint way and export structured data into your existing ERP system. Businesses will have all benefits of e-invoicing without the need to significantly change their systems and processes. Accountants won’t have to retype invoices all day and business owners will have a better overview of their accounts payable.