No matter what business you are in, you receive invoices from your suppliers.
These invoices must be entered into your accounts payable system, booked to the appropriate accounts, maybe matched to a purchase order, approved by the right people, and finally paid in time to receive the early payment discount.
Managing a circulating paper invoice process is a huge task, tiresome, expensive, painfully slow and with a great risk of errors.
With MultiArchive this is history!
MultiArchive will capture your invoices:
. . . and store them in the central MultiArchive, immidiately available from within your business application with a single key stroke.
Data from invoices is extracted manually or by automatic interpretation, and validated against the information in your business application.
Intelligent three-way-matching will identify mismatches between issued purchase orders, received goods and the invoice, sending the matching invoices directly to be paid, and the rest to be investigated, using a structured workflow.
Cost invoices are sent on predefined workflows, assuring that approval, and account booking, are done in accordance with company rules and regulations.
When invoices are approved the postings are automatically updated in your business application, and the invoices are released for payment.
And everything is documented automatically - who, what, why, when - and the audit trail is filed in MultiArchive for future use, making life easier for the auditors - and you.
Benefits:
- reduced costs
- time used to file invoice copies
- time used to distribute invoice copies
- time used to track invoice copies
- time used to request copies of lost invoices
- postage for distributing invoice copies
- early payment discount
Free benefits
- reduced time spend retrieving invoices from archive
- immediate availability anywhere in the organization
- immediate availability anywhere in the world
- improved availability 24/7
- improved protection against loss and damage
- improved access security
- improved auditability
- improved scalability
- improved flexibility
Costs
- MultiArchive modules
- Implementation assistance
- Disk, tape, and optical media for the archive
- Scanners
ROI (Return on investment)
- Typical pay back in two months to two years
“. . . results in both big cost savings and at the same time it ensures us a quick financial reporting”, Bente Dahl, Chief accountant at Maxit.
