A very critical aspect of running a business is “invoice processing”. A business revolves around selling and buying of good and services. An invoice is a detailed document that itemizes and records the transaction between two parties, a buyer & a seller. Invoice processing is, however, the entire process that involves the lifecycle of this itemized bill, from its issue to its realization/recording. The invoice processing workflow involves being received from the supplier, approving the invoice (across functions and levels), finalizing a remittance date, paying the invoice and recording it in the ledger.
By automating and digitizing this recurring process, your organization can save the time, money and effort that are drained in this function. The account’s department will be able to process invoices faster, more efficiently and with higher accuracy. Loss/ damage of physical papers leads to high costs in businesses (physical copy travelling from desk to desk), but a digital platform that not only stores but carries out all invoice processing functions on that very platform can help save costs. Eradicating manual entry/ re-entry of details across multiple systems but adoption of an efficient document management solution can help your employees utilize their time for more important tasks. Not only your business resources are more focused towards the core success but automation of invoice processing also enables goodwill and relationships with vendors as they experience smooth and seamless processes when dealing with your organization. Most importantly, it keeps the continuity of the business going as an essential part of the supply chain is fully automated and vendors are paid/supplies are flowing. Digital invoice collection along with instant digital signature solution can eliminate the physical invoice copy process completely.
Kleeto is a document management solution that provides you with several services on one platform that make managing business documents easy, smart and secure. Our services like digital signature authenticates and verifies digital documents, QR code encryption helps in easy and safe archival/ retrieval of documents and an INVOICE PROCESS MODULE that automates the entire process, from the first till the last step, of invoice formation to clearance.
Move your organization towards a paperless approach, building smart documents for today’s businesses with Kleeto.
Kleeto, a leading document management company is working on future-ready technologies to create intelligent document solutions and automation around them. Contact Kleeto to get more details on these solutions and several other such services.