Inefficient invoice processes can add up to a significant business overhead, with a high proportion of the Finance team’s time spent on manually processing and approving invoices, as well as resolving discrepancies.
The Summit Invoice Register module addresses these issues. It’s fully integrated and eliminates the need for your team to print and handle invoice documentation, thereby maximising the efficiency of the accounts payable process. It also provides greatly improved traceability.
How does it work?
You’ll need to ask your suppliers to email their invoices to a dedicated email address that’s used for invoices only. Once that’s all set up, as soon as an invoice arrives in the email inbox, the Invoice Register will automatically record it securely on the Summit system. There’s no need to print off a paper copy; you can view the original invoice on screen at any time, simply by clicking on the paper clip symbol.
If some of your suppliers prefer to continue sending their invoices to you by post, that’s absolutely fine – you can simply scan the paper copy onto the system. Many scanners support the automatic emailing of scanned items to a specified email address.
By using the Invoice Register with the Summit Business Analytics dashboard framework, you will be able to configure role-based dashboards that present key information in a clear and meaningful way to different types of user. For example, you could set up a dashboard so that it displays high-level information only, such as the number of new invoices received, awaiting approval, approved and posted onto the system.
Summit’s in-built flexibility also allows you to add information captured on the Invoice Register to any of your existing Summit Business Analytics dashboards.
Once received, the invoice can be processed by entering data alongside the invoice image.
- Email: Takes a copy of the invoice and emails it to the approver (or anyone else, such as the buyer).
- Invalid: Flags up that it’s not a valid invoice (for example, it may not be an invoice, or it may be a duplicate, or it may have been linked to the wrong supplier).
- Submit: Adds the invoice to the Summit system, ready for processing
- Place on query: Passes it on with accompanying questions to the approver through the electronic workflow (in order to do this, you need to be licensed for the Workflow & Approvals module)
Summit Invoice Register takes the hassle out of invoice processing. Images are securely stored in an electronic format and can be accessed at any time on the system. There’s no physical paperwork involved, so you won’t end up having to fork out for storing boxes of paper documents either.
Find out more about Summit Invoice Register or any of RedSky’s construction-specific software solutions.