Facilities Overview
Initiate the process
Typically incoming invoices are printed by suppliers’ accounting systems and in some cases are even handwritten. These need to be scanned and create a task - an authorisation task. If you receive some invoices electronically we can read these directly.
Code the invoice
The task of coding the invoice is carried out in different ways depending on the company’s processes. Examples of the variation in process (all supported by Konducta Invoice Authorisation) are:
• Coding by Accounts Payable
• Coding by authorisors
• Coding by designated staff, then passed to authorisors
• Partial coding
After coding, the invoice must balance – i.e. Gross = Tax plus sum of line item net values.
Export invoice data into Accounting or ERP system
At some point the collected invoice data must be entered into your Accounts or ERP system. The mechanisms for doing this vary, but include CSV or Excel import, EDI import or an import file specific to the system in question.
Authorisation process
The authorisation process varies from organisation to organisation. Konducta Invoice Authorisation provides a variety of scenarios as standard. Typical scenarios include:
• Authorise progressively through increasingly senior staff
• Authorise according to value
• Authorise according to Cost Centre or department
• Distribute to multiple authorisors for multiple cost centres
• Combinations of above
The mechanism for controlling authorisation is crucial. The first step is to e-mail an authorisor with an instruction to review and approve the invoice. The authorisor then either runs a local program to carry out the authorisation or authorises via a web browser, thus requiring no software locally on his/her PC. Invoice images are not attached to the initial
e-mail - they are retrieved when the authorisor is ready to process them.
The invoice “file”
From the point where a “New Invoice” is created, a file is built up in much the same way as a traditional paper file. The users can take full advantage of additional facilities:
• Add notes at any time
• Add electronic files (e.g. Spreadsheets, Word processing files, E-mail)
All information about a particular invoice and its authorisation is immediately accessible. This includes the coding, the authorisation, all notes and files, the invoice images.
Fulltext search and retrieval
A very powerful capability is the creation of a customer-defined invoice database which contains searchable indexes. This database can be searched on a keyword basis - a very powerful capability, allowing virtually instantaneous location of the invoice images and key information (Invoice Number, Invoice Date, Supplier, Gross etc.). This is an invaluable tool when dealing with supplier enquiries.
Reports
Standard reports are provided to assist in the control of the Invoice authorisation process – these include:
• Tasks outstanding by authorisor
• Tasks by account code, with status
• Tasks with full history
Additional reports can be created as required.
Retrieval via Accounting or ERP System
Retrieval of the document images via the accounting system is a very useful feature which is accessible, well beyond the completion of the Invoice Authorisation process itself. The ease with which this facility can be implemented depends on the accounting system in question. Some systems have very strong facilities to enable access to linked external databases (such as an image database) whereas others have limited capability.
Configure to fit the customer’s process
Konducta Invoice Authorisation is built upon a generic workflow tool - Konducta Workflow, which allows configuration of the Invoice Authorisation to suit the customer’s exact process. As noted earlier - customers have differing requirements for coding or the authorisation process itself.
Business Benefit
The main benefits of implementing Konducta Invoice Authorisation are:
• Greater operational efficiency with faster paperless processing
• Improved control of the process ensuring better cash management
• Greatly increased efficiency where authorisors are geographically dispersed
• Electronic audit trail for every invoice
• Better service to suppliers
• Reduction in time spent dealing with suppliers queries
There are real tangible
cost savings too:
• Space reduction through reduced filing requirement
• Reduction/elimination of photocopying, printing, postage costs
• Better staff utilisation
• Additional efficiency accessing documents after authorisation.
We can assist companies with their Return on Investment
(ROI) calculations, and reference many real, successful
implementations that have delivered significant business
benefit.
To discuss further - please contact us by phone/e-mail
as noted overleaf.
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