5 important benefits with automation
Why is automation so important and what benefits can it bring to your business?
Torhill Gysland Falnes | 05.01.2022
We aim to make the Purchase-to-Pay process as effective and automated as possible. Our goal is to make every step, from the time order is made until the goods are received, easy and time-efficient.
It is easy to say that you want to save costs or increase income and yes, that is the starting point for everything. Still, I dare to nuance this a bit. Here are some thoughts on what I consider to be the main reasons for automating this process for your business.
- Reduce manual labor, time and costs
There are many steps in the process where manual labor can be replaced by our technology. Instead of typing information manually, we can offer software that helps with the processing of orders, interpretation of invoices, accounting, approval, and bookkeeping. With our system, you can easily access invoices as well as retrieve orders in just a couple of keystrokes.
- Cost control
By collecting all purchases and all incoming invoices in the solution at once, we get full control of the costs, giving the accounting department full control over the situation at all times. Nothing is hidden or forgotten, an accountant’s dream.
- Purchasing management
By managing the purchases through suppliers where you have agreed favorable prices and payment terms, you save time by checking prices with many suppliers every time. The employees are directed to the right goods and services, in accordance with the agreement. (webshop)
- Quality assurance
Quality assurance of orders, prices and invoices is an important part of the process. The system shows which deviations must be checked, and based on a combination of rules and artificial intelligence, the user is led to concentrate on the important tasks.
The system can prevent errors and ensure that the Accounting Act, SOX requirements, power of attorney matrices, and other guidelines are followed. The system operates by The Four Eyes Principle as well as ensuring that an order is approved by users with sufficient rights. Everything is logged, and the system keeps track of who has done what. The auditors love this and can even go into the system and see what has been done.