23. February 2023
Digitisation of incoming invoices: Requirements for DMS software
“Time is money” – as Benjamin Franklin already said in his essay “Advice to a Young Tradesman“ and even today, 275 years later, this statement seems more relevant than ever. Because the more efficiently we work and the fewer mistakes we make, the more productive and successful we can be. Fortunately, there are now software solutions that can help us optimise our processes and reduce costs. But what requirements should a DMS software fulfil and why are they important? This article delves a little deeper into these questions.
Integration and automation for more efficiency
A DMS software should be able to automate the entire process from invoice recognition to integration into the company’s accounting system. This includes the ability to scan and automatically classify incoming invoices. In addition, the software should allow seamless integration with other systems and tools to make the workflow even more efficient. If the software’s functionality makes this possible, companies can not only save time and resources with such a solution, but also improve the accuracy and effectiveness of their incoming invoice processing.
Automated data identification and classification
An important aspect of processing incoming invoices is the effective recognition and classification of relevant data such as invoice number, supplier name, invoice date and invoice amount. Modern software for processing incoming invoices should support this by automatically recognising and classifying this data. In this way, not only is the manual effort minimised, but errors are also avoided.
Flexible, adaptable and user-friendly
Every company has different requirements for incoming invoice processing. A good software solution should be flexible enough to meet individual requirements. It should be able to allow for customisation such as the number of fields for data recognition. A flexible and adaptable working environment can also help make employees happier and more productive. This in turn has a positive impact on the bottom line.
Archiving: Secure and legally compliant
In addition to the factors already mentioned, secure archiving of incoming invoices plays a crucial role in successful incoming invoice processing. Good software should offer the possibility to archive invoices securely and digitally and provide a reliable search function. Secure archiving not only ensures compliance with legal requirements and data protection regulations, but also protects confidential information. Thus, secure archiving also contributes to minimising risks and supports effective business processing.
Always one step ahead: reporting and analyses
Incoming invoice processing is an important part of the financial process in a company. A software solution should therefore be able to generate detailed analyses and reports to ensure transparency and control. Through a comprehensive reporting and analysis function, an incoming invoice processing software can offer further advantages. For example, potential savings can be uncovered by analysing and optimising expenditure structures. An improved supplier relationship can also be achieved by processing invoices quickly and meeting agreed payment deadlines.
Growth without limits: scalability
For successful incoming invoice processing, it is important that the software is able to scale as the business grows. The software should not only be able to handle the increasing number of invoices and business transactions, but also ensure that this does not lead to slow or inefficient processing of the data. A good incoming invoice processing software should therefore have high scalability and be able to increase performance when needed.
Software for incoming invoice processing: requirements in a nutshell
Overall, an incoming invoice processing software is an important investment for companies that want to save time and money. The above requirements should be taken into account when selecting such software. A good software solution should be able to automate the process, optimise data recognition, be flexible and adaptable, allow for secure archiving and reporting and scale as the business grows.
All in harmony: How Amagno helps companies to optimise and digitalise their work processes.
Are you looking for a more efficient way to digitalise your accounting and optimise work processes? Then Amagno can support you in your project. Simply send us an email at sales@amagno.de or call us on: 0441 / 309 123 00. Our competent sales team will be happy to show you how you can digitise and manage your documents quickly and easily with Amagno.
More information as well as a general overview of the topic of digital invoice receipt processing can be found here.
Jana Treptow 
