You may have a lot of questions when looking into document management for invoice processing. Here, DocTech aim to help readers understand how the digitisation process works, and how exactly your accounts payable systems can be automated. It’s important to get across that we know your business is unlike any other. There is no ‘one way fits all’ when it comes to digitising your processes. This is why we take the time to get to know you, and how your business works.
Document management for invoice processing should be able to:
- Capture invoices from a scanner, email, or drag-n-drop from your desktop
- Validate invoices based on your defined business processes and rules
- Review invoices, any coding, and approval processes
- Approve invoices by authorised staff in your organisation
- Have data available for download to be used as input to your accounting system
- Allow mobile access so authorised users can approve invoices from any device at any time
When an invoice process is completely automated, each step will be well defined. From data capture to approval, and posting directly to your account package or ERP system. Workflow approvals should be triggered via email alerts, based on the rules you set up. This will speed up processing times.
Document management for invoice processing, means purchase orders and invoices are automatically checked for duplicates, reducing errors. With automation, productivity will increase.
Data capture – with Intelligent Indexing, data is extracted from any invoice and stored into the system as indexed (manageable) information. This replaces error prone, manual data. The software gets used to the invoices you process, the more documents stored, it starts to remember where to find the key information.
Automate approvals – digitally routed invoices can reach the approver quicker. Alternatively, should an invoice meet predefined rules set out by you (e.g. an invoice from supplier X, matches the PO from the same supplier) it can be automatically approved by the software.
Securely store and easily retrieve – all invoices are stored in a secure and accessible central location, and are well organised due to the data capture. Retention rules can easily be applied and documents quickly sourced for audits.
All of this can be done from any location and from any device.
If you’re thinking of introducing document management for invoice processing, give us a call on 0161 647 7040 to talk through your requirements or contact us via our website.