What is the best moment to digitize invoices?


What is the best moment to digitize invoices?  

Digital processing of your invoices has many advantages, but that’s nothing new. However, every digital transformation project has business implications. Do we have to consider the closing of the financial year? Do we need to organise ourselves differently? And how? What about the integration with the financial system? Will we create disruption in the company? 

  

The future is now  

Uncertainty around these different aspects drives the postponement of invoice digitization. It is a pity because the right moment is today. Only by investing time and budget now, you will ensure a quick and large return. Moreover, COVID-19 has accelerated the need for digitization. Paperless work is no longer a ‘nice to have’, but a ‘must have’ with remote work being here to stay. Your future employees, people of generation Z, also expect to work in a modern digital environment. 

  

More than just ‘less paper’  

For every day this transformation is delayed, the paper stack will keep growing, along with the risk of errors. Think about the paper archive that is difficult to access and demands time from your employees, the piles of receipts and printed invoices that are lying around, the questions you get because of an unclear approval process, and so on. That is a waste of space and the valuable time of competent employees. The main benefits of the digitization process are in most organizations: 

  • You save time and thus costs. 

  • The input work becomes minimal with fewer errors and can be done by administrative profiles instead of highly skilled accountants. 

  • The availability of an extensive audit trail makes continuous control easy for management. 

  • Because the processes become measurable, you can visualize them and easily detect bottlenecks. 

  • People throughout your organization can securely access the archive, decreasing the burden on the administrative workforce. 

  • It becomes easier to motivate young people to come and work for you.

Work smart, not hard. Let the computer do the repetitive and monotonous work and let your employees focus on core business. 

  

Make documents work for you  

EasyForm Capture not only recognizes invoices but can also indicate if it is a credit note, delivery note or any other document. A self-learning system personalizes and adapts itself to the specific requirements of your organization. Digitizing the documents only has added value if the data is converted to useful information. This is where EasyForm Capture comes in: data like invoice numbers, VAT numbers, account numbers, amounts, and so on are automatically recognized and converted into human- and machine-readable information. Your employees no longer need to manually type in data. And that saves what? Exactly, time! Precious time that your employees can now put to good use. 

With EasyForm Workflow, approval flows are simplified, faster but above all clearer. Documents often travel a long way within your company. An order, sales document or invoice needs to be approved by the right people. A contract first goes to the legal department, gets some comments, is adjusted, and finally signed by the CEO. An invoice that is above a certain sum should be approved by the CFO instead of the office manager.  

With EasyForm Workflow, we automate every process and ensure that documents find their way smoothly within your company. Better still: during the process, a dossier can be put together in which various documents are grouped. Purchase orders are immediately linked to the corresponding invoice and an automatic check is done with the delivered and invoiced goods. An e-mail about a credit note is linked to the corresponding invoice. A delivery note is directly retrievable from the invoice and so on. 

Software on its own is not the answer to your business questions. Therefore, the RecoMatics experts will also help you to assess the impact on your organization and drive the change. 

  

Ready to take the leap towards digitalization and accelerate your organization? Let us know, and we will help you quickly find the best solution tailored to your company. We do this by analysing your needs, making recommendations for adapted processes and tools, and assisting you in the transition to the new way of working. 

What can we do for you?

Get in touch.