Does your organisation receive invoices via mail, fax and other electronic formats?
Do you spend a significant amount of time and people-time processing your invoices locally or sending them to a centralised accounts payable department?
You can significantly reduce the time, cost, risk and complexity of capturing, routing and approving invoices, wherever they originate, with Nustream.
Completely transform your existing invoice processes to be automated, more efficient, secure and cost-effective. By reducing invoice processing time, you can secure early payment discounts, improve supplier relations and also free up staff to work on business-critical activities. The automation process will simplify audit response and aid your insight into bottlenecks or inefficiencies.
What automation means:
- Capture and process invoices from all sources including MFDs, scanners, fax, email or other electronic systems.
- Reduce the cost, risk and delay of shipping hard-copy invoices to central processing facilities
- Extract invoice data and pre-populate this in your accounts payable system through intelligent document recognition
- Route invoices to the appropriate person – manually or automatically – for review and approval
- Effectively manage vendor relationships with unified access to invoice and payment history
- Eliminate the cost of storing invoices onsite (file cabinets and off-site storage space)
- Cut copying and printing through digitalisation
Here’s a self-assessment to consider the impact invoice automation could have on your business:
- How many invoices do you process each month?
- What are the true costs per transactions including personnel, transportation, storage and duplication/copying?
- How much variance between locations and departments exists in your invoice approval processes?
- What are your data entry error rates? How do they affect your process efficiency?
- Have you paid twice on the same invoice? Or deposited payment into an old bank account?
- What is the risk of failing an audit?
- How long does it take to update a central accounts payable system, to adapt to regional or departmental process changes
To find out how automation can improve your invoicing process, call to speak to one of our friendly team on 01865 598 777 or email us firstname.lastname@example.org