Marketing

This is how invoice processing works in the cloud – eCommerce Magazin

Digitized business processes have long been normal in all areas of the corporate world. One of the most important work processes – invoice processing – is also moving away from the analogue existence and is finding its new place in the cloud under the term e-invoicing.

Completely new incentives for conversion and modernization have now come from the European Parliament: From November 27 this year, the so-called E-Invoicing Ordinance (ERechV) come into force and public facilities such as universities, hospitals or municipal administrations to a completely new system all around E-Bills like ZUGFeRD or XRechnungen.

Use market advantages with the introduction of e-invoicing

“However, since this law also affects the service providers and suppliers of the institutions mentioned, the rest of the market also has to adapt,” said so. “Advances in this area will bring significant market advantages over the next few months”, Myrko Rudolph, Managing Director of exapture GmbH and expert in digitization. Together with BCT Deutschland GmbH, software developer for intelligent document technology and enterprise information management, exapture presents a new software solution for the smooth transition from analog to digital workflows in invoice processing – and that is cloud-based.

It is necessary to convert the tried and tested processes

Electronic invoices offer a number of organizational and financial advantages. Nevertheless, a survey by the Fraunhofer Institute and Comarch from 2019 showed that only just under half of the around 700 participating German companies use e-payment. “The main reason can be shown to be an elementary skepticism towards new technologies,” says Rudolph. “Above all, changing the tried and tested processes requires breaking out of the comfort zone, which many employees, but also decision-makers, are not ready for.”

70 percent cite exactly this as the biggest hurdle when introducing e-invoicing solutions, and every second fears problems with the integration into the existing IT structure (Ibi research: e-government in municipal areas; 2018). “Intelligent Document Technology systems, however, can be connected to existing invoice processing software much better than known. They are designed for adaptation, ”explains Rudolph. “There is also the possibility of completely avoiding this problem – by outsourcing it to a cloud.” Separate handling of the invoice processing limits the implementation in the existing system to a few contact points, which means that the entire changeover takes place much faster.

E-invoicing: manage input efficiently

In the cloud, the intelligent eCapture-as-a-Service system from BCT operates around the clock and processes all incoming invoices. “Here, versatility proves to be necessary. Data can be extracted from any document, regardless of whether it is structured, semi-structured or unstructured, ”adds Khaled Daftari, Partner Manager for the DACH region at BCT. Since there is no need for a large number of time-consuming, manual processes, the entire workflow is much more efficient. But even if the company has already switched completely to e-invoicing, partners or customers can still rely on analog invoice processing. In such a case, exapture’s scan2data solution comes into play.

“With the help of a scanner, the information can be extracted from an invoice on paper and converted into dynamic data,” explains the expert. “This offers great advantages compared to a classic hard copy: All relevant information can be automatically fed into the cloud-based accounting system and used for further business processes.”

This creates a centralization of the most important information and a uniform, ERechV-compliant structuring of the same – including the mandatory documentation of all automated processes. The interaction of the two solutions thus covers the entire spectrum of invoice processing and bundles both analogue and digital incoming data in one place.

From snail mail to high-speed data

Myrko Rudolph exapture
Myrko Rudolph is the managing director of exapture GmbH.

Access, processing and sending in real time play an increasingly prominent role in the digital age – this development does not stop at accounting. According to the motto “time is money”, companies in all business areas rely on fast processes. But of course the advantages of e-invoicing do not end there, Myrko Rudolph knows: “The cost savings alone due to the reduced paper consumption and the elimination of postage payments prove to be enormous. In addition, the efficiency increases, both of the invoicing processes and all of the dependent steps. ”

The susceptibility to errors is also reduced to a minimum: the automated processing prevents transmission errors and duplication. The conformity required by the authorities is adhered to without exception and the processes are based on the latest data protection guidelines.

“The time of the confusing piles of files is finally over. Simple implementation, countless advantages and, last but not least, the ability to digitize in an efficient way will shape the future not only of billing, but of the entire document management in the cloud – and if you don’t keep pace with this development, you’ll be left behind ” , concluded Rudolph. (sg)

Also read: E-Invoicing: How smaller companies can optimally prepare for it