Digital invoice processing
Speed up processes and save costs with automated invoice processing
Prozesse vereinfachen mit der digitalen Rechnungsverarbeitung
Many companies still process invoices the old-fashioned way, namely with paper. This is not only time-consuming, but also inefficient and can lead to errors.
Digital invoice processing can help companies to simplify the invoicing process and save time and money. With the software solution from the dataglobal Group, you can convert your paper invoices quickly and easily into a digital format and optimize your invoice processing within the company.
The digital invoice workflow – relieve your accounting department
Invoices are an important part of accounting. But it can be difficult to keep track of all the paperwork. Fortunately, there is a way to save your invoices electronically, which can make your bookkeeping much easier.
Our software solution for digital invoice processing enables you to design the entire process from incoming invoice to posting completely digitally. This allows your employees to manage invoices much faster, as the traditional process of copying, forwarding, checking, signing and booking on paper is replaced by efficient electronic processes.
Digital invoice processing therefore has many advantages for both companies and their customers, such as faster payment, simplified incoming invoice processing and invoicing, improved cash flow and fewer data entry errors. Even simpler invoice reconciliation is possible via these processes.
Last but not least, electronic invoice processing is the more environmentally friendly solution, as paper consumption is significantly reduced.
Process invoices digitally and easily
Electronic invoice processing processes invoices quickly and easily, without the hassle of paper invoices. This means that all receipts and invoices can be received, tracked and managed in one place. You can also set up automated payments so that you never have to worry about missing a payment again
Invoice receipt
With our solution for electronic invoice processing, you can automatically convert your paper invoices into e-invoices (PDF invoices or other formats). This saves you the hassle of manually entering data into your accounting system. Digital incoming invoice processing can also help to reduce errors and improve the accuracy of your financial reporting. Our software also supports you with audit-proof archiving.
Digital processing
Digital invoice processing is the term for the electronic processing of invoices and serves to improve the incoming invoice workflow. The process usually comprises three steps: checking, approval and booking.
Checking refers to checking whether an invoice is correct and complete. Release takes place when the checked invoice is released for payment. Posting refers to the actual recording of the transaction in financial accounting.
Simple forwarding of invoices and receipts
Invoices or receipts can be transmitted to tax consultants or third-party systems with just a few clicks. This gives you a clear overview of your finances and saves you time, as only a small amount of manual data entry is required.
Advantages of digital invoice processing
Automated processing of invoices using digital workflows
Audit-proof archiving in accordance with GoBD and UStG
Use of standardized invoice formats such as ZUGFerD and XRechnung
Transparent and documented processes with a detailed history
Efficient search for invoice information
Fast return on investment (ROI)
Flexible adaptation to specific requirements
Shorter processing times
Our solution for electronic invoice processing is perfectly coordinated with our document management system (DMS)
Why is this important? Quite simply, electronic incoming invoices must not only be processed, but also archived long-term as essential business documents. According to tax law, invoices must be kept accessible and secure over a longer period of time.
In concrete terms, this means that if your employees store booked incoming invoices in the DMS archive, no more invoices will be lost. Special tools can be used to automatically index the invoices to be archived so that you can easily find them again using supplier names, invoice numbers and other criteria. Of course, this also applies to all other files and electronic documents stored in the archive.
Audit-proof archiving of all documents is guaranteed at all times, and our digital archive meets all legal requirements regarding retention periods for business-related documents.
Simple integration into your system
We specialize in integrating our invoice processing software with the systems you already use. So you don’t have to worry about the technical details. At the same time, we advise you on digital archiving when it comes to legal retention periods. Our team of experts will be happy to provide you with advice and assistance at any time.
FAQ: Frequently asked questions
Which statutory retention periods generally apply to invoices?
The retention period for invoices varies from country to country. In Germany, incoming invoices must be stored for 10 years.
What requirements does the tax office place on digital receipts?
Electronic invoice processing is becoming more and more of a trend. Electronic invoices allow customers to get an overview of their purchase even faster and ensure that they are not overcharged. But what requirements does the tax office place on digital receipts?
In Germany, an invoice must contain the following information:
- Purchase date
- Price of goods or services
- VAT (value added tax) or GST (goods and services tax) applied to the purchase
What is digital invoice processing?
Invoice processing in digital is the conversion of paper invoices into a digital format. This can be done manually or by using software. The main benefit of digitizing invoices is that it simplifies the invoice management process and makes it easier to track payments.
How is the information on the invoices read out?
The system uses optical character recognition (OCR) to read the information on invoices. This means that companies no longer have to enter the data from each invoice manually. This saves a lot of time and effort and has the positive side effect of reducing errors.
Important data such as the date, the reference number and the total amount due are then extracted during incoming invoice processing. This information can be used to automate the approval process for payments and accounting.
Automated invoice processing can considerably simplify the way companies deal with their invoices.
How is a digital invoice approved?
A digital invoice is released when the recipient has paid the amount due. The digital invoice workflow is simple and efficient – the buyer pays the outstanding amount and the seller receives a notification via the digital incoming invoice processing that the payment has been processed. This type of transaction eliminates paper invoices and reduces errors.