In today’s stimulating economic environment, it is very important for companies to leverage their assets and extract the maximum return on their investments. In our experience, most businesses are not able to dedicate their time and resources required to manage the cost of carrying debt over time. Businesses require a partner who they can rely upon to support and help them improve cash flow by enhancing the company’s internal accounts receivable department.
Every office receives paper and electronic invoices – all of which initiates either manually or automated workflow. Quickly processing invoices can result in money saved for every firm – for example, by taking advantage of early payment. Time-consuming and labour-intensive processes have the reverse effect – resulting in money lost due to late payment or missing payments, unhappy vendors and unsatisfied customers.
Invoice Processing according to AIIM™
1/3 of organisations are receiving 25,000+ invoice/month are still using paper-based processes.
50% of Accounts Payable system users report a payback period of 9 months or less.
29% of respondents report a 50% reduction in costs associated with processing invoices.
1/2 of Account Payable systems implementations were completed in 6 months.
(Source: AIIM Industry Watch Report, Automating AP/AR Financial Processes – user feedback)
getsix® invoice multi-channel inbound solutions are cost-effective for any business and scalable for any document volume. Paper invoices are scanned and converted to digital format. Content in electronic format – like email or text attachments – is also captured and recognised as an incoming invoice. Relevant data – like invoice number, customer name or amount – is identified and indexed. Data is then exported into the relevant back-office system – such as Microsoft Dynamics NAV, SAP or bespoke financial application – progressing the invoice further for review, approval and payment.
The mission at getsix® is to help businesses run proficiently and become more profitable. Our ‘Invoice Multi-Channel Inbound’ solution offers a state-of-the-art method to help businesses increase the performance of their Accounts Receivable department.
Invoice Automation for Small to Medium Businesses and Branch Offices
Automating the management of invoices and other financial documents is easy, quick and cost-effective with getsix®. If you are processing a few dozen to a few hundred invoices per day or more, getsix® offers a solution to help your company reduce costs, process invoices faster and provide better control and visibility of your entire process.
- Too many paper documents to manage can lead to misplaced invoices and late payments
- Invoices go from desk to desk for approvals and payment – no visibility into where an invoice is at a given time
- Filing and retrieving invoices from file cabinets or storage areas costs time
- Suppliers calling for payment status may become frustrated if information isn’t immediately available
- Traditional invoice automation software is too expensive for smaller businesses.
- Feature rich capture software includes invoice separation, multi-page document handling, automatic supplier identification
- Best-in-class portfolio of office scanners for batch scanning and digitizing invoices
- Automatic extraction and consistency check of invoice data, such as invoice number, date, amount, VAT and currency
- Built-in intelligence to ‘learn’ document types
- Integrates with Microsoft Dynamics NAV, SAP, or other ERP systems
- Integration and verification with knowledge repository.
- Quick and easy start – your invoice process can be automated in just a few days
- Simple to train employees, easy to use
- Reduce costs and improve efficiency by reducing manual handling of invoices
- Low cost to deploy, rapid ROI – reduce invoice processing costs by 50% or more
- Save on storage and retrieval costs by digitising financial administration
- Improve cash management, leverage early payment discounts
- Better visibility across the entire process, including invoice registration, error and exception handling, approvals and payment.