Manual invoice management is insecure thing that can lead to many errors and heavy expenses. It takes up precious time of your employees for data input from paper invoices. The long invoice payment introduces chaos along of bad managed cash flow and missing informations.
● Struggles of Invoice Processing You Can Face
— Documentation noncompliance; — Missed discounts and unnecessary late fees; — Incorrect balance sheets and working capital assumptions with a poor visibility of liabilities ; — Reputational and financial risks by late payments and slow responses to enquiries.
If you encounter one of mentioned issues, it’s time to think over innovative technologies implementation over invoice processing
● we have a solution
Our invoice processing solution is based on the OpenText Vendor Invoice Management for SAP solutions that optimize your internal processes:
— includes automatic sending of invoices for approval, depending on the provision of all necessary information — limits the number of paper invoices and digitizes them — provides a controlled invoice receiving phase without human intervention — Optical Character Recognition (OCR) software automatically extracts data from invoices using a knowledge base created from thousands of sample invoices
● What Features Are Included in OpenText’s Invoice Processing Solution
Our accounts payable solution is designed to simplify, accelerate invoice processing. Choose proven solutions for your invoice processes from Tec Infosystems and you’ll get:
OCR technology and automatic invoice routing
Automated processing complete invoices and rule-based exception detection
Generation of reports basing on company code, business unit, supplier, exception type and liability
Implementation of pre-configured business rules
Real-time updates and links to supporting documentation for each type of invoice
● What Advantages You Get with Invoice Processing Solution
If you accounts payable function is low-performing, use the best-in-class technology that is trusted by major brands around the world. With all its tools you reach:
Visible invoices to relevant line managers and proper control over budget management
Reduced cost by almost 25% after eliminating manual and paper-based invoice management systems
Improved external relationships and cash flow management
Minimum of issues and errors
Automated taking advantage of early payment discounts