BasWare Automatic Invoice Processing Software

BasWare Automated Invoice Processing solution contains tools for automating the global enterprise’s entire purchase invoice workflow. The solution enables full control over the workflow  and helps ease an organization’s financial process  through enhanced automation, process improvements and built-in best practices. This allows the company to meet various compliance requirements with fewer  resources than traditional methods would require. In addition, the seamless integration to ERP and accounts payable systems allows organizations to maximize their Return On existing Investments (ROeI).

Initial purchase management screen

Header data

Selecting a supplier

BasWare Invoice Processing software is an advanced cutting-edge electronic invoice processing solution. It enables electronic workflow, revision, cost allocation and approval of purchase invoices as well as transfer to the accounts payable (AP) system. The value-added modules complete the BasWare Invoice Automation solution.

Value-added modules of BasWare Invoice Processing:

BasWare Order Matching allows the purchase invoices to be automatically matched to purchase orders. If the purchase order is pre-approved, the approval workflow is automatically copied to the BasWare Invoice Processing system. No further workflow is needed and the invoice can be transferred directly to accounts payable.

BasWare Recurring Invoice Matching automates the processing of periodic, contract based purchase invoices. Typically, the invoice amounts and the posting data of these invoices are identical. The module automatically matches the invoice with the contract and transfers matched invoices directly to accounts payable. If the invoice does not match the contract, it is sent to the pre-designated person for approval.

Benefits of BasWare Automated Invoice Processing Software:

• Reduced invoice handling costs by:
  • accelerating workflow
  • eliminating interests on late payments
  • taking advantage of discounts on early payments
• Increased control over workflow
• Improved cash flow management
• Versatile search, analysis and reporting functions
• Reduced storage space
• Decreased manual input and elimination of errors
• Pioneering product with extended functionality
• User-friendly interface
• Rapid installation
• Seamless integration to other applications

 

Functional Features of BasWare Automated Invoice Processing software

BasWare Invoice Processing software is a complete electronic invoice processing solution for global enterprises. It allows both direct scanning of invoices into the system and electronic receiving of invoices from an Internet billing service. Scanned invoices are interpreted by using a powerful Optical Character Recognition (OCR) function and linked to supplier information extracted from accounts payable, reducing considerably the error-prone re-keying of information. Received invoices are matched to purchase orders (PO) and transferred directly for payment. Only invoices with discrepancies are sent to workflow for approval.

BasWare Invoice Processing can collate and deliver the invoice and supporting documents directly to employees anywhere in your organization for on-line authorization. An e-mail notification with a hyperlink to the invoice will prompt the employees into action speeding up the workflow. The system tracks the status of each invoice, monitors time scales and issues e-mail reminders if the invoice is not processed within an acceptable time frame.

Once the reviewing, approval and accounting codes are completed, the invoice is automatically sent to the accounts payable department for final review and transfer to accounts payable and accounting systems. All information related to the invoice, including attachments and comments, is collected during its e-mail workflow, creating a complete and easily accessible electronic invoice archive.

Summary of the functional features of BasWare Automated Invoice Processing Software

• Package application
• Multi-organization and -currency capabilities
• Support for shared service centres
• Support for electronic billing
• OCR functionality
• Duplicate checking
• PO and invoice matching
• Automatic reminders
• Backup person management
• Support for business rules
• Cash management - payment prediction
• Secure and easy access
• Scalability
• Integrates into larger e-business initiatives
• Is a powerful tool to search and analyse invoices providing more information on procurement
• Middleware modules to many ERP and legacy systems such as
  • SAP R/3,  
  • Oracle Financials and
  • BAAN

Outsource Invoice Processing

If you do not wish to implement in house systems using FileStore or BasWare to process your invoices and/or purchase orders then DCS can handle this as a fully outsourced service using these solutions via web browsers.

This can be implemented as a long term trial or as an immediate cost saving solution in order to deliver benefits without any capital expenditure.