With many suppliers, the retail industry often receives a large number of input invoices every day. However, if using manual methods to manage invoices is no longer suitable, especially in the post-covid period and shifting arguments.
So to promote business activities and save costs How do retail businesses need to apply argument transfer technology into their operating processes? What benefits does retail invoice management software bring to businesses?? Follow Bizzi's post below!
1. Overview of the retail industry in 2021
After the Covid 19 outbreak in 2021, Vietnam's general economy and retail industry faced severe consequences for the first time. One of the biggest problems in the retail industry is supply chain disruption.
Some retail brands, due to running out of capital but unable to change their business models to adapt to the new situation, have led to being eliminated from the market. Meanwhile, many businesses are forced to transform their marketing and operating business models to "live with Covid".
The management of invoices in the retail industry also affects the business activities of enterprises when the temporary suspension of all production and business activities for social distancing causes dozens of invoices that have not yet been processed to be stagnant in the warehouse. long time.
2. Challenges of businesses in the retail industry
For large and medium-sized businesses, operational concerns are given top priority. For small and medium-sized businesses, the need becomes more urgent to quickly find solutions that suit their budget to optimize costs.
Manual working methods of employees due to lack of tools and technology cause many retail businesses, despite having millions of invoices/year, thousands of invoices/day, still have to carry out the payment and data entry process, for manual control.
During the time of social distancing, most companies have to implement a policy of closing facilities, employees taking time off work or working from home will cause performance to virtually decline.
In a time when it is difficult to increase revenue, perhaps applying digital solutions in general can help businesses reduce many costs such as personnel costs, operating costs, storage costs...
At the same time, a department that also needs priority to optimize costs is the accounting department. To help the accounting department have time to handle other tasks that create more value, businesses need to implement digital transformation to streamline processes and maximize cost savings.
3. Bizzi's solution - Retail industry invoice management software
It can be said that the biggest motivation at the present time for businesses to quickly digitally transform the retail industry is Covid 19.
On the other hand, it is also important to note another significant driving force: the digital transformation process to help the business's accounting department automate the invoice processing process.
Digital transformation solutions that apply technology help businesses manage documents much easier, including cloud storage services that help solve the worry of lost or damaged invoices.
Besides, RPA technology has the ability to check and authenticate the necessary criteria to ensure the validity of invoices.
Processing and managing initial invoices can take up a lot of valuable time, human resources, costs and is prone to errors in data entry. Therefore, the birth of Bizzi is like the savior of the retail industry. Bizzi's intelligent software robotic automation (RPA) technology supports:
- Free email address to receive input invoices
- Bizzi automatically downloads and collects electronic invoices
- Bizzi automatically checks the validity of invoices.
- Automatically compare and match orders and delivery notes.
- Extract data from electronic invoices with 99.9% accuracy.
- Bizzi with a smart storage system makes it easy to search
- Bizzi is a solution to digitalize paper invoices, reducing data entry and centralized invoice management
- Export data according to the input form of popular accounting software such as Misa, Fast, ... and integrate with ERP
Bizzi retail industry invoice management software with the mission of developing automation solutions applying 4.0 technology (Robotic process automation, machine learning, AI) for accounting and finance operations, helping to increase productivity and reduce costs for businesses. With superior features, Bizzi is known as an effective assistant for businesses in comprehensive automated invoice management.
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