Automated invoice processing system – how it works and for whom it is suitable

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Processing invoices and sending them to the customer for payment can be a long and tedious process. The good news is that today companies can rely on software that is specially designed to automate the accounting process – SmartSoft automated invoice processing system. With the help of this corporate software, labor efficiency is increased, the probability of making technical errors is reduced and customer payments are facilitated.

Manual invoice creation VS automatic generation

Automated invoice processing system is a preferred method of operation for more and more corporations. But why? If in the past issuing and sending invoices could only be done manually, today employees have access to “smart” solutions such as Smartsoft invoicing. It is a product of special software, which was developed with the aim of achieving maximum work efficiency in the creation, sending and tracking of company documents.

In addition, customer payments can be made in a fast and convenient way, which benefits both parties. All these facts are enough to motivate more and more companies to choose for their activity such kind of programs that perfectly synchronize with the other systems in the established business structure. Manual accounting is an established practice, but over time it is gradually being replaced by automated solutions such as Smartsoft invoicing.

How the automated invoice processing system works?

Automatic invoicing may sound like a utopia to many people, but it is actually an extremely effective method of improving accounting work. Let’s take a closer look at what this process consists of:

  • scan the paper document or import the PDF files – this is the first step of working with an automated invoice processing system. Modern software works through optical character recognition (OCR) which allows “reading” of the incoming data and then extracting the information needed for accounting. The latter may contain details such as date of payment, document number, delivery information, etc.;
  • information validation – this step of the process is extremely important because it leads to the verification of invoice data. They must match the details of the order, as if there is a mismatch; the software has the task of detecting them. Errors are indicated, which makes it possible to eliminate them in time – discrepancies in prices, quantities, etc.;
  • approval and payment processing – after the above steps are correctly performed, the software routes the invoice to the competent persons for approval and finalization of the process. If approval occurs, it is time to pay the amount on the document, which is preceded by the sending of detailed instructions, which are generated again automatically – electronic funds transfer (EFT).

Solutions such as automated invoice processing system are defined as innovative and productive, as well as having a positive response for any company know-how. They improve corporate relationships and optimize the work process.

How it helps to improve the business?

The desire to achieve high professional results is the basis of the implementation of practices such as automated invoice processing system. The main thing here is the rationalization of the process related to the processing of company invoices – something that would not be possible if relying solely on manual invoicing.

The business can be significantly improved, because the technical time for issuing such type of documents is reduced, and their approval and validation happens completely automatically. The business can be significantly improved, because the technical time for issuing such type of documents is reduced, and their approval and validation happens completely automatically.

Instead of wasting valuable time by manually writing and sending invoices, the employees can direct their resources to other activities such as talking to customers and promoting services and/or products. The correct organization of the work process is very important for corporate success, namely the automated invoice processing system helps this happen quickly and easily.

For which companies it is suitable?

The system is suitable for large business companies in which the aim is to optimize the processes related to the processing of documents and the introduction of the relevant data for their creation. In addition to the automatic generation of invoices, the automated processing system also offers tracking of issued documents, and in addition reduces the time spent on employees.