Invoice Automation

Finance and Accounts Payable

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Switching to Automated Invoice Processing

Our solutions enable you to scan digital or paper invoices and instantly extract, validate, and transfer your processed data into your accounting system.

Automated Processing

Invoice processing comprises a series of steps associated with the management and handling of invoices.
 
This process typically starts with the arrival of the invoices in the business organisation, then they are transferred to the accounts payable department, classified into predefined categories, matched against purchase orders, if necessary, followed by validation, approval, and entry of the invoice data into the organisation’s accounting system.
 
Implementing Maxisoft solution to automate your invoice processing has many advantages. Some of the most obvious ones are the reduction of costs associated with manual data entry and faster processing times.
 
However, there are also other benefits to consider, such as minimised error rates and more efficient usage of the company’s resources.
automate invoice processing

Maxisoft Invoices

Automated Invoice Processing​
Smart invoices automates the process of invoice scanning, invoice data extraction and classification. It provides recognition of data on scanned paper or PDF invoices, followed by validation, sorting and archiving to speed up your accounts payable process. The invoice processing steps can vary across different companies – depending on the size of the organisation, the type of invoices, whether the invoices are electronic or physical, etc. In some cases, the invoice handling process exceeds fifteen different steps before the invoice can be considered completely processed, which can be inefficient and very time and resource-consuming. Usually the larger the company, the more complicated the invoice processing, and certain types of organisations also typically deal with many more invoices than others. Manually intensive accounts payable procedures significantly impact a company’s bottom line, with companies spending huge amounts each year processing invoices, performing purchase order matches, addressing defects, and responding to vendor inquiries.
invoice capture workflow

Benefits of Invoice Processing Automation

Satisfaction
Employee Retention

Software solutions for invoice automation typically require very little human interference. Make more efficient use of your staff and let them work on more important projects.

Security
Fraud Detection

Less human interference reduces the risk of financial statement manipulation and increases compliance with accounting standards.

ESG Sustainable Development

Prepare your business for the future of work by building solid digital grounds on which you can conduct sustainable practices.

Dollars
Cost Savings

It is estimated that processing a paper invoice can cost anywhere between $8 and $60. Locating lost and misplaced documents can reach as much as $200 per invoice.

Focus
Time Saving

Software solutions for automated invoice processing can eliminate many tasks, such as routing, classification, validation, and manual data entry.

Accuracy
Error Reduction

With automation software, error rates are minimised, preventing delayed approvals, time spent on searching for and correcting mistakes, as well as loss of discounts.

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