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Electronic invoice workflow

The electronic invoice workflow is a digital invoice management process that automates their registration, verification, approval, and archiving. The main goal of this solution is to increase efficiency and transparency in the company by eliminating paper documentation and manual data entry.

Benefits of Electronic Invoice Workflow:

Time Savings: Automating processes such as invoice registration and processing significantly reduces the time required for document handling.

Error Reduction: Automatic data reading and entry minimize the risk of errors associated with manual information entry. This ensures accuracy and consistency of financial data.

Approval Paths: Invoices are automatically directed to the appropriate individuals for verification and approval. These systems allow monitoring the status of each invoice, eliminating delays and lost documents.

ERP Integration: The electronic invoice workflow can be integrated with ERP systems, enabling two-way data exchange. This ensures that all data is updated in real-time, facilitating financial management.

Control and Monitoring: Electronic invoice workflow systems allow ongoing process tracking and quick access to information about document status. Transparency and data availability enable better management and control over financial processes.

How Does Electronic Invoice Workflow Work?

Document Registration: Invoices are registered in the system by scanning, emailing, or automatic download from the inbox.

Automatic Data Reading: The system automatically reads and enters data from the invoice into the appropriate fields in the form.

Forwarding for Approval: Invoices are automatically sent to the appropriate individuals for substantive description and approval.

ERP Systems Integration: Data exchange with ERP systems allows importing information about contractors and other necessary data, as well as exporting data for document posting.

Checking External Databases: The system can verify if the contractor is listed in the Ministry of Finance databases, is an active VAT payer, fetch exchange rates, and create transfer packages.

Application Examples

Companies from various industries, such as FMCG or publishing, use electronic invoice workflows to streamline their financial processes. Digitalizing these processes allows for faster and more efficient document management and reduces the risk of errors and delays.

Summary

The electronic invoice workflow is a modern solution that brings numerous benefits to companies. Automation, error reduction, approval paths, integration with ERP systems, and full control and monitoring of processes make it an essential tool for any modern organization striving to increase operational efficiency and improve financial management.