Manual invoice processing process without using Bizzi
PO orders – one of the important documents for businesses, so the accounting department is usually responsible for properly managing PO to minimize risks that may occur in the process of working with suppliers. supply, avoid causing damage to the business
The GR warehouse receipt will be confirmed by the warehouse management department and then reported to the accounting departmentaccounting will enter into the warehouse management system to track the quantity of imported goods on the system.
For companies that operate a completely manual workflow, the accountant will contact the departments and then compare the information on the paper or electronic invoices with the information of the order and the warehouse receipt. If the invoice is valid, the accountant will enter each information into the accounting software and must ensure that the manual work is absolutely accurate so that the enterprise does not make mistakes with the invoice information when the tax department makes the payment. check.
The business's traditional invoice processing process:
- The supplier sends an electronic or paper invoice to the company
- Accountants receive invoices from suppliers via working email
- Accountant downloads files, stores and reconciles with purchase orders (PO)
- Check and compare invoice information with orders
- Contact the warehouse management department to get the receipt
- Conduct invoice - PO - GR . reconciliation
- Accountants censor and enter results into accounting software
Bizzi pioneers with automatic three-way reconciliation invoice processing solution
With automatic processing technology Robots combining Machine Learning and artificial intelligence can solve difficult problems that require manual handling such as:
- 1 PO but many invoices
- Where there is no PO
- Product names vary between vendors
Bizzi's 3-way invoice automatic reconciliation process applies RPA . technology
With a large number of invoices and many orders and receipts every day like the retail industry, accounting logistics will take days to handle these tasks completely manually.
However, when the Bizzi . application invoice processing solution automatically, the process of receiving invoices - 3-way information collation - data entry of Accountants will be automated. Bizzi becomes a "virtual accountant", replacing humans to perform 90% operations to process input invoices, from reading emails, looking up and checking information to storing and managing electronic invoice files. .
Applying 4.0 technology will release a lot of pressure for businesses and the accounting profession
Due to the nature of the job, having to work with numbers every day requires accountants to keep themselves in a highly focused and absolutely accurate mode. At peak periods, the possibility of errors in invoice processing is very high due to the overload of invoices but there is no way to shorten the process and reduce the workload – especially for businesses that are still heavily dependent on invoices. manual task.
In addition to errors, manual processes also take up a lot of time and human resources to handle, affecting the overall progress of the business, operations, and related management. With retail stores, orders or orders need to be processed continuously every day and need to ensure the ability to store and manage effectively.
The application of Bizzi to the process of processing and automatically comparing 3-way invoices helps accountants reduce work pressure, and businesses deploy human resources effectively.
- Risk reduction From applying manual tasks, both optimizing work productivity and saving investment costs - a difficult problem of business accounting has now found an ideal solution thanks to the appearance of an automatic accounting solution. motion.
- Delivery comparison: Orders must be confirmed against shipments, which requires delivery notes to be reconciled with the purchase order. The robot can help you check and approve all matching orders or data. It will only notify you when an exception is encountered.
- Smart invoice storage system, lasting up to 10 years, easily manage orders or orders that will be sent and extracted quickly right on the software REMOVEizzi to ensure efficient storage and management.
Invoice processing errors, even the smallest, can bring unimaginable damage to a business. Therefore, let Bizzi have a comprehensive and comprehensive invoice processing solution to accompany you on your business development journey! See you in the next posts!
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