Enterprises in general and SMEs in particular spend a lot of money every year to operate, from interest, transportation costs, administrative costs, personnel costs... In which, personnel costs, printing costs, and "opportunity" costs are also worrying factors in the current invoice processing activities of enterprises. How does Bizzi - invoice processing software save costs for businesses? Follow the article below of Bizzi for more detailed information!
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 fees that seem small, but with large quantity and frequency will create a large expense. Typically, the cost of paying accounting staff, if every day there are hundreds of invoices, it takes 3-4 employees to process, the cost of division will also increase significantly.
Assuming an accountant's salary ranges from 8-10 million/month, a business will spend 90-120 million/accountant per year on repetitive tasks: checking invoices by eye, collecting invoices between related departments for direct comparison, entering 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 per invoice, Bizzi helps businesses automate 90% workflow, eliminating manual operations with an accuracy of up to 99.9%. Thanks to that, even thousands of invoices due for payment need to be processed, they are resolved easily. Accountants only need to review the final results 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 the mission of becoming a powerful assistant to the finance and accounting department, a companion to businesses in the digital transformation process.
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