As M3 nears its 20th anniversary, the company will expand the functionality of its existing document-imaging product, which currently serves 4,700 properties across the U.S., to streamline data entry and improve hoteliers’ accounts payable workflow using automated “touchless” technology. The new functionality relies on optical character recognition to eliminate manual workloads and extract key data from imported documents to speed up the review and approval process.
For years, M3’s accounting core platform has allowed users to embed images into the system for quick, on-demand retrieval. This process is designed to make hoteliers’ lives easier by eliminating the need to mail invoices or store hard copy data.
“Our electronic imaging processes will improve tremendously, taking away the need for our customers to input data manually using intelligent OCR,” EVP of Sales and Marketing Scott Watson said in a statement. “Now, in addition to converting documents into a digital format, our new system uses automated invoice processing to enter the data itself, not merely the image, into accounting core. This significantly reduces manual input and speeds up A/P processing, offering greater flexibility and time savings for our customers.”
