Slingshot News

Slingshot News

April 19, 2019

Facilities are shortening the time required to record supplier invoices.  The accuracy of the OCR process varies widely.  Each supplier has its own terminology and document layout making the process especially challenging.  Slingshot’s Intelligent OCR process “learns” the supplier’s layout improving accuracy as invoices are processed.  If the layout changes, “Intelligent OCR” automatically detects the change and adjusts its rules for the supplier.

Slingshot has added “Intelligent OCR” to its invoice capture and matching facilities.  These facilities are available in release G2-12 of Slingshot’s purchasing and accounts payable applications scheduled for...


February 26, 2019

Touchless matching substantially reduces the invoice processing labor while improving accuracy.  In many environments 70% of PO invoices can be processed automatically.
Invoices are scanned in or emailed to an “Unprocessed” folders.  A background process selects the images for a document, interprets them (OCR) and performs a two-way (Invoice to PO) or three-way (Invoice to PO to Receipt) match.  Discrepancies (price or terms) are automatically identified and forwarded to a responsible user for resolution.  The images are attached to the electronic record in Slingshot and can be viewed wherever this record appears. 
“Touchless Matching” is available in...


January 18, 2019

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’s supplier portal allows the supplier to:


October 29, 2018

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...


August 9, 2018

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.


July 26, 2018

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.

Suppliers can participate in RFx initiatives (RFQ, RFP or RFI), acknowledge and accept purchase orders, confirm shipping schedules, accept priced invoices, review performance statistics, update catalogue data (products offered and current pricing), update profile and supplier qualification data and review invoice history including a payment schedule for open invoices.

The supplier portal has been enhanced with a supplier dashboard providing “one click” access to all of...


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