Invoice Processing & Document Management Solution: Digitalised Workflow For Incoming Invoices
The Challenge
Due to having four sites and increasing volumes of incoming invoices, processing invoices was becoming more complex and time consuming. Specifically, it was becoming almost impossible for the accounts payable department to find individual invoices either during processing or in the approval process. To manage the many invoices, manual lists were created by the department containing the details of individual invoices. Compliance with required payment dates and discount periods was more than just an organisational challenge using this manual process. Searching for incoming invoices in the paper-based archive was also becoming extremely time-consuming.
The Solution
As part of a joint workshop with Canon, the company shared their requirements for a digital workflow for incoming invoices and the associated process was analysed. During the workshop, it became clear that alongside technical implementation, organisational processes also needed to be restructured. Subsequently, all suppliers and service providers were asked to send incoming invoices to a dedicated email address specifically set up for receiving supplier invoices. Canon’s solution selects the incoming invoices from the email account, which are then securely archived. The invoice data required for booking in the organisation’s accounting software from BMD is extracted and automatically handed over to the next step of the process, the invoice approval workflow. In the approval process, colleagues in the accounting department have access to the invoices. With just a few clicks, relevant colleagues are provided with an overview of the invoices that have already been processed and completed and which are still in the approval process. The specified invoice processing times are also defined in the solution for each invoice to ensure they are processed within the correct timeframes.
In addition to incoming invoices, an archive for purchase orders from the ProfiOPEN ERP system was also set up. These purchase orders are also approved via the Canon solution. If an incoming invoice arrives for a purchase order which has already been approved and they match, the invoice is automatically approved by the solution and is processed ready for payment. As delivery notes, incoming invoices and correspondence for the order are linked within the archive element of the solution, there is a comprehensive overview of that specific order with all supporting documentation. Licht Loidl have independently made further developments to the solution and it is now being utilised by additional business departments. For their customer transactions, they have also implemented a separate workflow and archive process for tenders, inclusive of all documents from the resulting customer sales. In the HR department, employee certificates with a defined expiration date and employee application documents with a deletion date are managed and archived.
Benefits
“We opted for Canon’s Therefore solution due to the range of functionality and the possibilities for internal development,” says Markus Schwengerer, employee in the Computer Engineering department. By enabling end users to use the solution via a mobile device, incoming invoices are processed more quickly and spread out throughout the week.
Another benefit is that employees only receive documents for processing that are relevant to them. Overlooking or forgetting invoices is now a thing of the past. It takes hardly any time at all to search for invoices and other documents with Therefore. Improvements and time savings can also be seen in the post-calculations of sites, since receipts and documents are assigned to each site and can be retrieved.
For more info visit Canon Europe: canon-europe.com
About Licht Loidl
Licht Loidl was founded as an electrical company in 1966, in Lafnitz, Austria, and the family business continues to operate internationally today. Over the years, the company has expanded its market presence and now has four sites. The company is a comprehensive supplier of modern building and control technology. They offer planning and consulting through to acceptance and execution of building services. Currently the company provides services to customers in 12 European countries, from the Baltic Sea to Romania.
