Businesses in general and SMEs in particular spend a lot of money every year to operate, from loan interest, transportation costs, administrative costs, personnel costs, etc. in terms of personnel, printing, and "opportunity" costs are also worrying factors in today's invoice processing activities. Bizzi – How is invoice processing software cost-effective for businesses? Follow Bizzi's article below for more details!
1. Invoice processing software saves labor costs
In a large-scale enterprise, with thousands of invoices from suppliers pouring in every day, business owners often choose the solution of hiring more personnel to ensure the work goes on schedule, pays the right and enough for the home. provided every month so as not to affect the input materials in the following month, ensuring stable business operations of the enterprise.
There are seemingly small fees, but with a large number and frequency, it will create a small cost. Typically, the cost of paying accounting staff, if there are hundreds of invoices every day that need 3-4 employees to process, the division costs will also increase significantly.
Assuming the salary of an accountant ranges from 8-10 million / month, a year the business will spend 90-120 million / each accounting staff for repetitive tasks: checking invoices visually, collect invoices between related departments for direct comparison, input information and data into accounting software, etc.
With Bizzi, cost-effective invoice processing software helps accountants automate repetitive operations, increase work productivity, ensure work is completed on schedule and save 50% costs for businesses. Karma. Just 1 Bizzi is able to weigh the whole accounting department whether it's rainy or sunny day, holidays or New Year's Day. Bizzi works 24/7/365 without asking for a raise or a reduction in working hours.
2. Save on printing and storage costs with Bizzi invoice processing software
In the past manual processing, the majority of invoices sent by suppliers consisted of PDF and XML files. In which, the XML file has legal value, but because some businesses still do not have software to read electronic invoices, the accountant will download both XML files and PDF files and then print them out. The PDF file is the localization of the XML file, the accountant will process, check and compare it with this PDF file.
Most businesses have now switched to using electronic invoices, but some traditional suppliers still keep the habit of sending paper invoices, forcing businesses to still process them as usual.
In addition, the accountant will also collect all kinds of invoices, documents and related documents, print them out in hard copies, and send them to superiors for approval and then put in the archives. Thus, the increase in invoices over time means that the cost of printing and storage also increases gradually.
Bizzi provides each customer with a free invoice management and storage platform, all invoices are stored in a single place to ensure safety and confidentiality of information. All operations related to invoices are handled by Bizzi on this platform. Especially, Bizzi is a free invoice storage platform, with no capacity limit with a term of up to 10 years, minimizing printing and storage costs for businesses.
3. Opportunity cost optimization invoice processing software
The concentration of resources and costs on repetitive tasks means that businesses are spending their resources on activities that do not bring high value. In businesses that have not yet applied technology to the operating process, the input invoice processing is done entirely by accountants and accounts for 60% of workload and 70%-80% of working time. their work for the day.
At the peak periods of the accounting season that may follow such as payments to suppliers, the end of March, or the end of the year, most accountants spend up to 80% of time. to handle invoice processing so that it can be timely for tax declaration and finalization for suppliers. Overtime or overtime work on weekends often occurs, causing some accounting personnel to be pressured by the overloaded workload, leading to an uncertain work-life balance.
Bizzi – cost-effective invoice processing software with fast processing speed of just a few seconds on each invoice, Bizzi helps businesses automate 90% workflow, eliminating manual operations with high speed. Accuracy up to 99.9%. As a result, even thousands of due invoices that need to be processed are handled with ease. Accountants only need to consider the final result returned by Bizzi and decide whether to approve that invoice or not.
From saving 80% time and 50% cost, businesses can focus their resources on developing higher revenue-generating parts such as sales and sales. In addition, Bizzi contributes to reducing the work pressure of the accounting department, each employee has the opportunity to optimize working time for important and meaningful tasks for higher professional development as well as balance. life after work.
Applying the international standard of information management ISO 27001, Bizzi has successfully cooperated with many large customers with strict security requirements such as listed companies or multinational companies, providing security. Absolute focus on business.
Bizzi is a cost-effective invoice processing software with a mission to become an effective assistant of the finance - accounting department, a companion with businesses in the digital transformation process.
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