Removing Paper From Your Financial Processes
Finance departments generate a steady stream of paperwork – invoices, purchase orders, expenses claims, receipts and credit card statements to name but a few. These days, the majority of invoices and statements tend to be received via email as a pdf attachment. Needless to say, some invoices are still received in the post as paper documents. Paper invoices are manually circulated for approval and eventually either end up in a file or they are scanned and stored.
Receiving an electronic invoice is just the first step towards working more efficiently without paper. Although it’s a backwards step, many organisations are still printing out digital invoices so they can pass them on for approval signatures manually. Once again these are often stored away in lever arch files.
Digital storage and document process automation with DocuWare can help your company overcome these bottlenecks and deliver greater efficiency.
How DocuWare Optimises Your Financial Processes
1 – Automatic Document Capture
DocuWare collects, sorts and stores documents of any format with the help of intelligent capturing and indexing. It then distributes them to the right employees, it even works with mobile phones and business apps.
2 – Digitally Directs Invoice Approvals
DocuWare automates and accelerates business processes through efficient workflows. Tasks migrate immediately from one employee to the next or operate in parallel as required. The information is available at any time and is accessible from any place. Since all records as well as any correspondence involved in a business transaction is directly linked, everyone has everything they need on hand to make a decision.
3 – Meets Compliance Guidelines
Let DocuWare look after your retention and reporting requirements. Every document is stored according to legal requirements meaning every transaction can be tracked without exception. DocuWare uses multiple encryption layers to make sure everything remains secure.
4 – Connects To Third Party Financial Systems
DocuWare seamlessly integrates with SAP, Navision, Quickbooks, Sage and almost any other financial accounting system. This makes it possible to store and search documents in DocuWare straight from your accounting system. Additionally, you can take content from documents and feed it straight into your ERP or accounting system such as record numbers, amounts or account information.
5 – Improves Security
Whether you are protecting paper documents or digital documents, security is paramount. DocuWare is able to offer extra peace of mind with their cloud solution: multi-tiered backup measures and storage in a high-performance Microsoft Azure data center provide the highest level of protection from theft, fire, flood and other catastrophes.
6 – Gives You Complete Control
When was an invoice recorded? Where is it right now? Who accessed it last? DocuWare makes every status in the life cycle of a document immediately visible – today and in years from now. Effective controls can be incorporated into everyday processes: for example, invoices above a certain amount are always provided to colleagues in management and accounting for a cross-check. Or decisions can be further secured by having multiple parties sign off on them, protecting against errors or embezzlement.
7 – Information Immediately Available
Invoices can be called up in just a few seconds, search for specific invoices, or directly access a document that is linked to a booking from your accounting system. With new documents or status updates, DocuWare automatically supplies you with information via digital workflows. Email notifications, task lists, and representative rules ensure that the flow of information never stops.