The inputting of supplier invoice information has always been a time consuming process, busy accounts departments waste hours every day with this mundane task, also the cost of storing and retrieving invoices is very expensive, generally paper information is stored in a filing cabinet and manually accessed by a member of staff, there is also the chance that the document has been misfiled resulting in the time it takes to retrieve the information a lot longer than it should be again increasing costs.
Supplier invoices is one of the areas that businesses need to find more cost effective ways to manage, it makes no sense to pay staff hours in wages just to manually import data, also what happens to the invoice once the data has been processed and what is the implication in time when the invoice needs to be retrieved. Research has shown that hours are wasted looking for paper based invoices that may have been miss filed or even lost resulting in frustrating phone conversations with customers which can have an adverse effect on a business relationship as it is very frustrating as a customer when you cannot get answers to issues straight away.
This doesn’t have to be the case as technology is now available to address these issues and reduce the costs to a business substantially, invoices can be scanned and the data captured in 4 easy steps and the electronic invoices can be stored at very little cost and instantly retrieved directly from the accounts package.
Step 1 (Scan Invoices)
Invoices are scanned into our document management system using a network scanner or multi-functional device, templates are set up to capture relevant information such as invoice amount, suppliers name and invoice date etc, any fields can be captured depending on the requirements of any company. Using templates the data is captured, this process eliminates miss keying of information that can result in the wrong information being processed.
Step 2 (Verify Data)
Once the documents are scanned the captured information is then shown on the screen with the invoice, the captured data can then be verified that it is correct and matches the invoice, the data is now ready to be imported into the sage accounts package. The process of verifying the information is a quick check that the information on the invoice matches the captured data, any fields that haven’t been captured correctly can be simply manually changed and then the import can continue.
Step 3 (Save Invoices)
We are now ready to save the invoice into Filestar and a csv file is produced with the correct information to import into the accounts package, a simple click of a button will send the data into sage with no manual keying. This process is quick and efficient and ensures that the correct information has been imported.
Step 4 (Retrieving the invoices)
Now the process is complete and the information is in sage supplier invoices can be retrieved from within the accounts package or in fact any windows application such as outlook or word, a simple click of a button will instantly produce the invoice on the screen, this can then be emailed directly via outlook on request.
This process is simple and easy to use, the cost savings can be measured in the time taken to input information and the speed of retrieval, also the space saved in storing documents electronically can be a major saving as office space is becoming more expensive and the reduction of filing cabinets will reduce the office space required within an organisation.
Businesses have also found that by having documents stored electronically the working environment and customer services are drastically improved.
Document Management – Scanning – Storage
Archiving – Destruction – Document Imagin