The construction industry is notorious for processing and handling huge volumes of transactions. And with that workload comes the issue of controlling costs, managing budgets and measuring profitability.
With so many projects on the go, purchase orders and corresponding invoices are in abundance, and allocating costs to the right project can be one heck of a challenge!
Add to that the issue of seeking approval of invoices from personnel working out in the field, collating incoming invoices from email and the daily post, and you know all too well that processing invoices can be time consuming and open to errors.
If you’ve considered automated invoice processing but worry about integration into your existing systems, it’s worth looking again at this new technology.
We’ve recently developed a system that integrates readily with market leading accounting software Xero, allowing users access to an accurate and speedy labour saving ‘add-on’. This integration is available for other leading accounting systems like Sage and bespoke accounting software too.
South Oxfordshire District Council hit the headlines recently following a fire which badly damaged their premises in Crowmarsh Gifford, along with many documents relating to planning applications.
The disruption suffered since has been widely reported, as new accommodation has had to be found for the staff members. The loss of many planning application and comments documents has caused further substantial inconvenience.
It’s a terrible story, and we wish them well in their recovery efforts. It’s also a reminder of how we should each look to our own businesses to see how we would cope should such an event occur.
So take a moment to ask yourself ‘what if?” What if there was a fire, flood, subsidence or other such force that could preclude your employees from attending their workplace?
Thankfully, there are things that can be done to help protect the business.
Highly regulated industries need impeccable standards of document management within
their business. But that shouldn’t preclude other organisations from adopting ‘best in class’
systems if they wish to provide the best possible customer service in the most efficient way
Companies should leverage the advantages of modern technology to improve their internal
and external communications if they are to maintain a competitive advantage and attract the
best personnel to work in their teams.
One of our New Year resolutions is to avoid using Amazon for any purchases.
Although Amazon are convenient with their next day delivery and all, they don’t seem to to add value to the economy. They seem to want to sell everything at a bargain basement price and that usually means at the expense of somebody else. Perhaps company’s can try and be too big ? Think Tesco recently – how are they doing right now.
You might think it’s your under performing people.
In fact, it’s the time it takes to handle paper documents – shuffling them from department to department, filing, archiving, retrieving from archive, filing again… the journey goes on and the clock ticks by.
Have a purge on paper and you’ll save your business hours upon hours of time, transforming efficiency into an art form!
You know that sinking feeling you get when you realise you’ve paid the same invoice twice?
- You feel foolish and are kicking yourself
- You need to contact the supplier
- Your cash flow is tighter than it needs to be
- You know it will take a while before the supplier gets around to returning themoney
It’s such a nuisance! And you’re not alone – it happens all too often! But there’s a good reason why.
Invoices arrive via email, then by post a few days later, and even delivery notes look quite like invoices sometimes, no wonder it’s an issue.
In fact, one of our clients recently contacted us because they were so fed up with the problem they wanted a failsafe system to stop it happening again. And of course we were happy to develop a quick fix solution to add onto their FlexiCapture software to stop them entering an invoice onto Sage more than once.
And they’re delighted – over the moon in fact! Now their software checks to see if a supplier invoice is on the system already, and if so, it stops that invoice being posted twice. No more duplicate payments, and unpicking what’s been done in error. And it’s saved lots of time in the accounts department.
What great news it is to hear the economy is on the up and up.
And businesses are finally starting to feel more secure, even experiencing growth for the first time in a long while.
But with growth comes challenges – how to handle the extra workload. However, don’t go hiring extra staff just yet, there could be another way.
We’re not talking about factory conveyor belts here, what we mean is there are electronic systems you can put in place to take care of some of the administrative, repetitive tasks of the business just as well as an additional person (or two).
You’ve made a decision to make a purchase, but somehow the buying process is taking an age – does that sound familiar to you?
The journey of a typical purchase order can be convoluted – especially when making extra ordinary purchases. Let’s take a look:
Decision made • cost checked against available budget • purchase order approved by financial director • sent to supplier • receipt of delivery confirmed • matched purchase invoice to purchase order • invoice paid.
Let’s draw a breath!
Speed and efficiency – the bedrock of business success.
Both Company reputation and financial health are beholden to them.
So when operational blockages get in the way, stalling document approval processes, the results are not pretty.