Oracle WebCenter Content

Vorteile: We implemented Webcenter in conjunction with Fusion Payables for invoice processing. Though Webcenter content has many uses and features. We started with invoice processing and plan to leverage other features.
Webcenter can act as a centralized content depository. Digitizing unstructured data in webcenter can save loads of money. Retrieval of documents, when needed will be far easier in case of digitized versions when compared to physical paper documents. Further many companies lose valuable office space to store paper documents in file cabinets. All this office space can be saved if documents are digitized in webcenter. After initial storage, these digitized documents can be version controlled, annotated, cheked in and out.
Workflow is built into the system. Documents can be routed to users. Automated notifications and escalations are possible. Approvals can be reassigned and delegated. The optical character Recognition feature is a learning based solution. A few document examples enable processing of many different documents. The webcenter will automatically match the invoices to the Purchase orders. This will save lot of manual effort.

Nachteile: The optical character recognition software is a learning based solution, which means it need to be trained for different invoice styles. For us, when we started, the OCR was able to recognize about 70% of invoices. Do not expect, it will be 100% on day one.
Manual intervention was required to correct populate some of the fields like tax amount, Invoice number, Supplier name, PO number etc. However majority of data entry was done by the Webcenter. We are training the software and improving it further.

Vorteile: It was such a step up in how we used our financial's

Nachteile: None at all as it was a great tool and step up.