Optimisation of the invoice acceptance process is the basic process optimisation in the company. It contributes to financial liquidity, affects costs incurred by the company and it has an influence on the relations with the business environment.
The most frequent problem in the scope of documentation management tackled in companies is inefficient process of invoice acceptance.
Large quantities of documents, no system or improper system for handling documentation are what contributes to delayed payment. Such delays do not only generate additional financial losses (inter alia interest) but they also have an adverse impact on relations with contracting parties.
As part of the Paperless offer we propose a solution for automation of the accounting documentation acceptance process, allowing to handle the whole process smoothly and in compliance with due dates.
The solution allows for registration and processing of all types of purchase invoices, including cost and material invoices, and relevant value and quantity adjustments.
Individual or mass scanning of invoices
As part of a given accounting process paper documents may be scanned on an individual basis, i.e. as part of a given case an employee selects a document to be scanned and converted with the use of OCR, if required, or on a mass basis, in which case documents are digitalised by the scanner operator and after scanning and recognising a marker (e.g. a barcode) the system automatically sets new cases to be handled or adds them to the ones that have been set earlier.
Mobile registration of invoices
The solution may provide for a mobile application allowing to scan invoices in the field (with the use of an in-built device), to quickly describe invoices and hand them over for acceptance.
Automated registration of data
The solution allows for automated registration of the required data of an accounting document. It is possible thanks to the application logic, the OCR functionality of electronic documents, in-built data dictionaries (with data of contracting parties, recipients, cost centres, etc.) and integration with courier companies (the data of the invoice sender may automatically define the invoice recipient).
Substantive service of invoices in the system
The process modeller allows for defining particular steps of the description and acceptance of accounting documents systemically. The system cares both about proper order in which documents are handled and about the defined / registered due dates.
As part of the solution it is also possible to describe documents, assign them relevant CC codes, indicate acceptor/accepting group for particular items of the invoice, automatically accept (e.g. if the invoice amount is lower than PLN 1,000 net), forward the document for the purpose of consultation, forward to other recipients or reject the document (as wrong assignment).
Automatic notifications and reminders
The solution allows to generate and automatically send notifications to defined external recipients (contracting parties) or internal recipients (employees of other departments). Notifications may relate to the status of a given case (e.g. invoices handed over for payment) and be in the form of reminders (incoming date or delay in the service of a given step).
Service of paper and electronic archiving
The Paperless system also provides support in the scope of archiving invoices, already at the stage of their digitalisation. In the case of mass scanning there is a possibility of connecting invoice barcodes with the barcode of the archiving box to which they are put after scanning. The system assures that the required archiving period of invoices corresponds to the archiving period of the whole box. All invoices scanned at the time of the registration are automatically recorded in the e-archive, to which authorised persons have access. The review of and access to archival resources may be organised according to any criteria, for example time, departments, document types, client’s ID, etc.
Integration with financial and accounting systems
The solution may be integrated with financial and accounting systems, which allows for full automation of the payment service and status registration processes.
Advisory in the scope of optimisation of business processes
As part of the dedicated Paperless solution Billennium’s analysts are able to analyse the existing invoice acceptance processes and recommend a target solution, both in the scope of process flows and the use of technological solutions (including integration with financial and accounting systems, ERP, BPM, DMS).
The use of the Paperless solution supporting the acceptance of accounting documents in the company brings a lot of benefits, including:
- Acceleration of the invoice acceptance and payment processes.
- Minimisation of the risk of losing invoices.
- Meeting due dates.
- Reduction in costs of handling processes (including interest).
- Building a positive corporate image among contracting parties.