Electronic invoice workflow
This is the most popular module in the V-Desk system. It ensures efficient and streamlined invoice processing in an organization. With electronic invoice flow implementation we make sure the crucial documents are safe from being lost or damaged processed without any hassle or delays and on- time payment follows.
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Leverage electronic invoice flow to effortlessly manage documents
A company means business based on finance transactions, which must be documented with invoices.
The finance documents are of the key importance, and they include all sorts of valuable menagemental information. As the element of workflow in accountancy, they take part in the invoice processing. The invoices are also matched with contracts, purchase orders, procurement in every company.
With digital flow of invoice documents all stages of the work are automated resulting in its optimization, efficiency and smooth—running.
Move your company to a higher level in document management, leveraging the electronic workflow. Save time, eliminate mistakes and errors, digitizing invoices.
“Baxter has been provided with the electronic system to facilitate circulation of invoice documents. (…) The V-Desk system has given us full automation. Its implementation to Baxter has introduced a lot of positive changes in the area of invoice management, such as:
– More rapid and effective processing of documents,
– Full control of the process and documents,
– Quick and easy access to documents from the Czech Republic and Poland in one system
– Elimination of paper documents”
IT Manager CZ, SK &SEE, Baxter International Inc
Electronic invoice management
Timely payment warranty and the highest service quality
How a company benefits?
- Process efficiency improvement
- Savings on materials (printing, paper, ink, printer services)
- Advanced finance reports (Business Intelligence)
- Safe document archiving and storage
- Clear task assignment
- Timely VAT payments
How an employee benefits?
- Saves time on document registration
- System notifications, alerts
- Repetitive tasks automation
- Manual tasks reduced to minimum
- Timely task completion
- Reduces errors in data entry
Let’s find out how to streamline invoice flow and invoice process management in Your company.
What is an electronic invoice ?
Strong trend of digital transformation has resulted in a popularity of electronic invoicing. An electronic document is a digital form of a traditional paper invoice. It is either submitted by electronic mail or with a System designed to transfer e- invoices in standardized structured data formats. Such systems become more and more popular in Europe and around the world.
At the moment, both paper and digital invoices are allowed. Submitted in paper by traditional mail or as files through computer massaging networks. Structured data formats of electronic invoices are transmitted by electronic invoicing platforms. For example, Polish PEF and KSeF or Italian Sistema di Interscambio.
Primesoft’s expert comments
„The benefits are multitude. Invoices are easy to track and find, they are securely stored freeing space in the storage files, the whereabouts of the documents are known to the person responsible for the document. We have real-time control of who receives access to which documents at a given time. By reducing the amount of paper used and processed in a company, we are ecologically responsible.
It is not only important but also beneficial to be environment friendly. We cut down on paper, toner cartridges, post and shipment fees. We process faster, optimizing the employer’s work.”
Account Manager in Primesoft Polska
Example of invoice management in digital workflow system
- A registered invoice is submitted to a manager for approval and description. She/he receives the task at the virtual desk. This is the stage of matching it with a purchase order, contract or other document which legitimates the cost.
- Within the system, cost breakdown and cost centers are assigned. It is possible that one invoice receives multiple cost centers and is approved by several system users.
- At the final stage of the process, the system notifies a person who is responsible for the project to stay in control and on budget
- Bookkeeping department receives the invoice for the final more detailed description, check up of the payment method and submits it for the payment
What are the advantages of invoice management with V-Desk?
It is very important that incoming invoices, regardless of their form or source of submission, were processed and realized properly. It ensures electronic invoice management in the customized V-Desk system.
Main advantages of electronic invoice processing in the V-Desk system:
- tailor suited to the needs of an organization
- flexible, developed and streamlined on each stage of implementation and support, integrated with any ERP system
- technologically developed and advanced tools
- meet requirements of high security standards
- ensures compliance with laws
The V-Desk system supports all companies in managing both paper and e-invoices. The system features and functionalities allow speeding up and streamline the processing of all kinds of purchase invoices.
“Primesoft Polska proved itself as a reliable partner, and we are ready to confirm that as a result of this cooperation Krasta Auto has been provided with the electronic system to facilitate circulation of purchase invoice documents supported by text recognition technology. We confirm that together with the implementation of correspondence, agreements register and archive documents register we have received a powerful platform that not only automates management of these business processes but also optimizes projec’s performance on a business level.”
General Manager in JSC Krasta Auto, Inchcape Motors, Lithuania
Main functionalities of Digital Invoice Management in the V-Desk system
Implementation of the Solution – benefits and possibilities
Invoice register automation
Invoice is registered differently depending on the form of document
- Invoice scanning with bar codes.
Paper invoices with bar codes on, may be send to archive and e-document is used in the workflow.
- e- invoices.
the source of a document are mailboxes. The user receives notification once the invoice enters the system
- Invoices are registered form mobile apps
Mobile apps with OCR – Scan&Paste is an example. Data retrieved from the scanned invoice are transferred into the system, where e-document is automatically registered and initiates the process of its lifecycle.
Indexes and data from documents are automatically recognized and fulfilled with high recognition efficiency.
Integration with National einvoicing Systems
V-Desk System integrates with National eInvoicing Systems for structured data formats of invoices. The system is ready to transfer and receive the invoices in the format compliant with EU requrements.
The integration allows for an easy and automated transmitting of invoices and their visualisation for a comfort of a user .
The retrieval and transmitting of the cost and income invoices are ensured. Full report of all invoices received is available.
Bar codes for fast and streamlined invoice register
The usage of bar codes streamlines registering of documents making it more efficient and less tiresome
Scanning makes digitised document part of the process replacing the paper original, which is archived. In case its needed it will be much easier for the user to find it fast with the bar code.
After scanning, system automatically recognises a document and attaches it in the system. Bar codes are id numbers of each document, registering person and data. It functions as an alternative of the “stamp of receipt confirmation”. Bar codes make it easier to archive paper documents and search them.
Invoice OCR – automation of document registration
OCR (Optical Character Recognition) of invoice speeds up the stage of data introduction into the system by analysis of document image and filling up fields with values, ex. TAX id number, account number, invoice issue data, etc.
It involves automation of the transfer of recognised text to other apps and accounting systems used in a company.
Developed and constantly enhanced OCR by Primesoft streamlines registration of high number of documents. Efficiency and quality of data recognition is a result of intelligent mechanisms applied in hundreds of realisaztions for our Clients. With electronic workflow of documents by Primesoft what you receive is not only a tool for data processing but also a tool that helps you minimise errors occurring at manual transcription of data from invoices.
Intelligent data recognition is a functionality which enables to view whole documents, search the key words in a full text search option.
During the verification process the user sees the highlighted lines and fields which improves the efficiency of recognised data verification.
Subject verification – integration with ministerial database
Invoice verification also includes issuer data authentication. This is done automatically with the outside official data base systems due to integration between them, eliminating the need to switch from one to the other..
V-Desk connects, enabling the subject’s verification with the API of the following government databases:
- White list
- REGON register
- VAT register
At the data verification stage there is no need to log in and view the other registers, the system is ready and set to do the job for the user..
Description of invoice document
One of the stages of the invoice description and approval is to assign the cost lines, it is to the place of cost generation. The import of the chart of accounts and the flexible definition of the number of dimensions describing a single invoice line strengthen the dimension of expenditure control..
The users can accept cost lines for a given cost generation place and document cost description.
Differentiating levels of permissions
The users can accept cost lines for a given cost generation place and document cost description.
System enables to manage and distribute access according to earlier defined model.
Granting authorizations to documents or tools with the task responsibility assignment allows for a greater control and guarantees security of gathered data, analysis and reports.
The authorization rights are defined for each user or groups or be only restricted to individual documents or actions, e.g. invoice approval.
Security of data at invoice workflow process
There are specific legally demanding standards set out for the invoice documents. By processing them in the V-Desk system we are sure all of them are met. Among our clients, being the system users are financial institutions, banks and public entities where confidentiality, authenticity and documents storage ways are set out as priorities.
In the invoice workflow management system by Priesoft Polska the financial documents are secured in a proper way with:
- authorisation of system and documents access,
- logs monitoring,
- document versioning,
- SSL protocols,
- passwords encryption,
- single use session keys,
- logs of each visit,
- register of a document download,
- expanded authorisation mechanism,
- ISO 27001.
Expenditure control within digital workflow
Linked with other documents in a process, the invoice validity is immediately verified e.g against acceptance protocols. At the same time, when matched with order or procurement documents, it functions as a tool for control and planning before the financial commitment is done, improving budget control and management.
Reports, alerts, and integration to Power BI
All financial data gather during the verification process and process of invoice approval become an excellent source of data about a company. The updated information is presented on the system dashboard with reports ready for analysis. Power BI (business intelligence) integration makes the analysis of the V-Desk data even more dimensional.
Supervision and control of the invoice processing in a company
Embedded and automatically updated statistics make it possible to control how the processes function and analise time consumed for task realization. Additionally, the module enables to implement the reports to monitor and supervise. It registers almost all operations the user makes in the system, especially if a document was opened, an index changed etc. The module is equipped with the functionality to follow so called “dead movements’ and enables alerting their occurrence.
Invoice management process integrated with FA systems
System is flexible to such an extent that it can be integrated with the most popular financial- accounting systems. The method of two- way data exchange with any ERP system allows to automate invoice processing and eliminate the necessity to again enter once introduced data. The invoices after their description are automatically forwarded to the accounting systems for settlement. The information about the realization will appear in the system.
Electronic invoice workflow and archive system
Multilevel protection system of the archive, enables to define an elastic model of access and authorize only the users with the rights to see documents. The system securely storage the documents, allowing for the quick access to the right persons.
Digital invoice management as a LOW-CODE application
The module of e-invoicing workflow is also available as a ready to install application. It does not require any pre-implementation analysis nor customised configuration.
The ready to install with just one click application meets the needs of less complicated and advanced processes and is perfect for small teams.
Electronic invoice workflow system in your company.
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