Extending the solution _ Now that the solution is fully implemented, they are already looking at the next steps. An obvious move is to capture invoices that originate electronically, either as EDI or that are sent by email. Although the data entry problems may not exist with these invoices, they still need to be approved in the same way as paper invoices so the workflow will be of benefit. IMS also includes a Management Information module with full reporting capabilities which is also being investigated.
Using web_based invoicing cuts your business expenses. Paper and postage expenses are eliminated. You will also save money because you don't have to hire a bookkeeper to do the invoicing for you anymore. When using the online invoicing software, you don't have to possess an in_depth knowledge of accounting or bookkeeping either, and using the software itself is easy to learn. The online software does all the hard work for you, and _ since everything is automated _ the accuracy is assured. You can sleep better at night knowing that the compliance of your business invoicing process to all the relevant regulations is guaranteed. All records are always up_to_date since all transactions are automatically recorded.
An additional benefit of the solution is that IMS reduces the possibility of duplicates being paid, the system includes validation that picks up possible duplicates and alerts the AP team. This will reduce the estimated Â£80ꯠ per year that was previously being spent on duplicate invoices. Summary of key benefits : Increased control _ Increased efficiency _ Reduction in AP headcount by 4 people _ Elimination of manual data entry _ Reduction in lost invoices _ Elimination of duplicate invoices _ Reduction in time spent locating and chasing invoices.