How are Finance Departments increasing efficiency levels on invoice processing routines?

Successful companies can no longer afford to spend valuable and expensive human resources on tasks that can be fully automated, turning invoice processing routines into a much faster process which is also less prone to errors than when manually inputting and processing data. This is why an increasing number of CFO’s, Accountants and many other finance professionals across UK and Ireland have decided to rely on invoice processing technologies to automate invoice processing and approval processes across the entire company increasing efficiency levels on invoice processing routines, saving organisations time and money while reducing manual data entry.

SO, WHAT ARE THE MAIN CHANGES EXPERIENCED BY COMPANIES IMPLEMENTING INVOICE PROCESSING TECHNOLOGIES?

• Full Document Management Automation with no need for manual data input
• Online Invoice Approval with Complete audit trail of the approval process
• Look-up of documents directly from Sage transaction lines
• Automatic Matching and Closing of Purchase Orders
• Full control over the invoices from the moment they are received until they are posted onto the accounting system
• Increased Productivity Levels and Increased Competitive Advantages

HOW IS THIS AUTOMATION LEVELS ACHIEVED?

OCR technology plays a major role on allowing companies to automate their data input processes, saving them time and money while increasing data accuracy levels. For finance professionals using Sage, the preferred solution has been PaperLess Document Management, a software solution developed by Sage Developer, PaperLess Europe, that integrates seamlessly with Sage.

PaperLess software gives Sage users easy access to Automatic Invoice Recognition with two layers of OCR (Optical Character Recognition) technology to extract the relevant data from your invoices into PaperLess, which will then be sent to other colleagues for approval within the same workspace.

TAKE A LOOK AT THE VIDEO TO SEE HOW PAPERLESS AUTOMATIC INVOICE RECOGNITION FOR SAGE WORKS

SCAN TO ARCHIVE VS. CAPTURE>PROCESS>ARCHIVE – THE NEW TREND FOR INVOICE PROCESSING AUTOMATION

The truth is that businesses have been relying heavily on manual invoice processing. Dealing with paper invoices can be time consuming and can cause many human errors with manual data entry. Some companies are still using the traditional methodology Scan to Archive, which means they only digitise invoices for archiving purpose. Unfortunately, countless manual errors happen because of the old fashion way of processing paper invoices in an organisation. The latest methodology Capture>Process>Archive has become the most efficient way for invoice processing. PaperLess captures your invoice data by digitising paper invoices at an early stage of the workflow process.

Every business deals with invoices, so efficient invoice processing is crucial for running a profitable business. After several months, invoices from previous months may still be pending and without approval. Entering large amount of data from the invoices into your computer can be so tedious that manual mistakes are unavoidable.

PaperLess makes invoice processing simple and smart. After invoices have been digitised and edited in PaperLess, businesses can post batches of invoices directly into their existing accounting applications. PaperLess integrates seamlessly with Sage 50 Accounts, Sage 200c, Sage 200 Standard, Sage 200 Standard Online and Sage 200 Extra Online and many other popular accounting applications, so the synchronisation of invoice recognition for Sage happens instantly in the background. 

WHAT ABOUT FULL DOCUMENT MANAGEMENT AUTOMATION, IS THIS ACHIEVABLE?

Well, not only achievable as it is already available for Sage users.  Sage users can get Full Document Management Automation with PaperLess Company Inbox a powerful solution that gives you access to an advanced set of automation rules for documents received by email making it possible for invoices to be received, processed and, if you want, posted into Sage in a complete automatic process, saving you time, money and resources.

What our clients say about PaperLess

“be able to track our invoices more efficiently and with a cost saving to the business...This saves a lot of time trying to find old invoices in the paper archive"

Andrew Barlow, Management Accountant & Acting Financial Controller.

“…the time spent prior to installing PaperLess on processing invoices was lengthy with manually inputting the supplier, description, nominal code and values for each invoice. Invoice recognition does all this for you at a click of a button.”

Kurt Roberts, ACCA MAAT Management Accountant for CPL Training Group Limited

“I personally think it’s great. It allows me to enter invoices without the requirement to manually input all of the data and then refer to archived documents with ease”

Joseph Ryland, UKFast.Net Ltd Finance Director

 “..save £10,000 every year with staff as well as to save employees time spent on processing invoices”

Colin Mayrs, Blair’s Caravans Managing Director

Contact Us

Email: info@paperlesseurope.com

Phone Number: +44 (0) 207 135 2007

www.paperlesseurope.com