Keeping correct accounting records is an important part of every commercial operation. It is therefore in the best interests of organisations to carry this out conscientiously and to have a full understanding of their financial situation at all times. In many organisations a financial application has an important role in this financial reporting. The process of entering data from a paper invoice is fraught with danger, however, and invoice processing is generally a very costly operation. One of the possibilities provided by Xtendis is the digital processing of incoming invoices.
Automatically recognising, posting and distributing invoices
Processing invoices requires quite a lot of actions, such as stamping, sorting, copying, distributing, approving, posting and archiving. Moreover, the process is often insufficiently transparent. This is caused mainly by invoices having to be distributed within the organisation for approval. The status and physical location of these invoices is often unknown. Invoices sometimes get lost too. It generally takes organisations a huge amount of time to trace these invoices and discover their status.
With the Xtendis digital archive system invoices can be recognised and entered in the financial application automatically, distributed digitally throughout your organisation and centrally archived. This leads to an enormous reduction in the amount of work required, a shorter processing time for invoices and an improvement in the quality of the administrative process.
Expansion has a lot of experience in linking different financial and ERP systems. Click here for a list of applications to which Xtendis is already linked.
Both paper and digital invoices can be processed with Xtendis
The greatest benefit offered by Xtendis in terms of storing information within the financial application itself is that the information in Xtendis can be combined with other document and information flows (e.g. e-mails, faxes, MS Office files, photos, PDF, XML etc.). In this way all the information relating to, for example, a customer/creditor, project or product can be viewed in a single digital file within Xtendis, regardless of the original form or source.