Paper weight, paper wait
Sometimes a physical document is useful, but most of the time it can tie you down, especially if your business systems and processes have gone digital. Offices can quickly become burdened with paperwork, even small volumes, especially when each document has to be separately handled and processed. It can be a costly and time consuming business, not least because paper based systems are inherently slow when it comes to storage, retrieval and distribution. Reliance on physical intervention at every level also means documents can easily get lost, accidentally thrown away, ignored or overlooked. When it comes to processing supplier invoices, these issues can have a serious impact not only on your own business processes and management but also on supplier relationships, trade agreements and credit terms and conditions.
At EFS Technology we have developed a range of solutions which streamline and control your supplier invoice processing every step of the way. Documents are stored centrally and are always visible and traceable at any time, on or off site. They can be automatically or manually GL coded by the appropriate members of staff as well as approved on multiple or custom levels depending on the cost of the goods, services or any other pertinent factors. This fine level of control, combined with high visibility, greatly speeds up approval and payment times, keeping suppliers happy and giving you more control over your business. Invoice exceptions can be quickly resolved, in some cases within a third of the normal time, as well as ensuring accountability for every member of staff involved in the supplier invoicing process.