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e-Invoicing: Improving Productivity and Reporting

Throughout time, businesses have been at the forefront of technological innovation. From the steam engine and assembly line to the typewriter and eventually the computer, businesses all across the country have been utilizing the latest technologies to improve efficiency, productivity, and profitability.

And two of the biggest proponents of computer-driven technology have been finance and accounting. These departments have utilized computers to improve record keeping, track employee timekeeping and vehicle mileage, forecast sales data, and much more! But one area which businesses still failed to exploit was electronic invoicing, known today as e-invoicing. These businesses were producing their invoices using computers, but not sending them electronically.

Early e-Invoicing and its Problems

The earliest technology available to facilitate electronic invoicing was Electronic Data Interchange, or EDI. While this got the job done, it also brought with it several drawbacks, including a significant amount of overhead and management. Plus, EDI formats were cryptic and had to be prepared by staff with significant training and experience.

Because of these problems, e-invoicing failed to take off, with 85% of all invoices remaining paper based.

The Solution to e-Invoicing: FileBound!

With FileBound businesses can make any invoice an electronic invoice. Benefits of FileBound include:

  • Accounting information is electronically read and stored.
  • No need for further data entry or document handling.
  • Significantly reduced staff and overhead.
  • Reduced expenses for courier services.
  • The elimination of data entry errors.
  • Automatic importing of scanned data into the accounting system.

Each of these benefits translates to a cash savings for businesses like yours!

If you would like to learn more about FileBound, please contact Micro Records Company, Inc. by calling 877-410-SCAN or visit MicroRecord.com!

Since 1964, Micro Records Company has been providing quality document conversion and full records management solutions to our diverse client base, which includes government, insurance, utilities, education, legal, hospitals and banks.

Micro Records is a leading document scanning services company that provides value pricing and quality document conversion deliverables. We offer document scanning, imaging and indexing services that provides “Best Value” for enabling organizations to successfully utilize the true value of information contained in paper files, resulting in increased productivity, performance and profits.

We use the latest technology to ensure our clients receive the highest quality records management solutions.

You can also follow us on FacebookTwitterLinkedInGoogle+, and YouTube as well!

 

This entry was posted on Thursday, June 28th, 2012 at 5:31 pm. Both comments and pings are currently closed.