Remote Work and Incoming Invoices Management
In the age of accelerated digitization and remote work, effective management of incoming invoices is becoming an increasing challenge for many companies. Digital technologies not only simplify business processes, but also enable remote workers to efficiently perform their tasks from any location. The OWIS system offers comprehensive solutions that enable easier and safer management of incoming invoices, regardless of where employees are located.
Challenges of remote invoice management
Managing incoming invoices in a traditional business often requires physical presence, document review and manual approval. When the number of invoices is small, this is not such a problem. When the number of invoices is large and the organization is simple, it could also be said that it is not a big problem. However, the process must be complicated to ensure that the payment is appropriate, so that there are no errors, wrong payments or abuses. There are several main problems with this way of working:
Complicated rules and approval thresholds: To ensure payment is correct, rules are often introduced that become more complex over time. Approval thresholds can depend on the amount of the invoice, which can significantly slow down the process.
Different requirements for different types of invoices: Expense invoices often don't require much review, while purchase invoices may require additional steps. These extra steps complicate the process and slow down work, especially in a remote work environment.
Difficulty tracking costs: Cost schedules are relatively easy to create, but difficult to track, since the classic way of managing invoices involves working with physical documents of incoming invoices, which combine written and visual information.
Lack of information for efficient organization of the process: The operational "doing" of the process often does not give the advantages of documenting and collecting information about the process itself, which can later help the organization to organize its process more efficiently.
Ensuring that payment is correct often involves rules, which become complicated over time. Approval thresholds can depend on the amount of the invoice, with expense invoices often not requiring too much review, while procurement invoices may require additional steps. The cost schedule is relatively easy to create, but difficult to follow, since the classic way of managing invoices involves working with physical documents of incoming invoices, which combine information in written and visual form. That complication ensures compliance, but slows people down, which becomes especially challenging in the context of remote work. Employees may not have access to all necessary resources or documents, and data security becomes an additional challenge when information is exchanged through inadequately secured channels.
Advantages of the OWIS solution for invoice management
The OWIS system is designed to facilitate the process of managing incoming invoices through several key functionalities that address the above problems:
Digitization and centralization of documents: All incoming invoices are automatically collected and stored in the OWIS system, allowing centralized access to employees with appropriate rights. Whether working from the office or remotely, users can access invoices through a secure online system. This solution eliminates the need for physical documents, facilitating the tracking of expenses and reducing the complexity of work.
Automate the approval process: OWIS enables the automatic assignment of invoices to appropriate teams or individuals for approval. Automating approval thresholds, depending on the amount and type of invoice, speeds up the process and reduces the complexity of the process in which human verification of threshold criteria is required, which enables more efficient work without unnecessary slowdowns.
Security and compliance with standards: Since OWIS is compliant with security standards, data is protected by the highest security protocols. This is especially important for companies that work with sensitive data, as it provides additional security and data protection, eliminating the risks associated with inadequately protected communication channels. The protection of access to documents is incomparably more sophisticated compared to physical documents, since in the digital environment it is possible to monitor access to information, in addition to the protection of information itself.
Real-time tracking and tracking: Appropriate users can track the status of an invoice at any time – from receipt to final approval and payment. This functionality enables better transparency and control over financial processes, and also ensures the collection of information about the process itself, which can be used for further optimization and more efficient organization of business.
Integration with other business systems: OWIS offers the possibility of integration with existing ERP and accounting systems, which further facilitates the management and connection of all relevant data. This enables a comprehensive overview of expenses and their efficient monitoring, without the need to manually collect information from various records.
Notifications to all relevant process participants: The OWIS system automatically sends notifications to all relevant process participants when changes occur in the invoice status. This ensures that everyone involved in the process is always up-to-date and reduces the need for additional communication, thereby speeding up decision-making and work efficiency.
Flexibility to work remotely
Through the OWIS system, companies do not have to worry about whether their employees are physically present in the office to process invoices. The system enables complete digital administration and provides everything needed for effective work from remote locations.
Here's how you can manage invoices through OWIS.
Conclusion
The solutions offered by the OWIS system allow companies to smoothly transition to the digital management of incoming invoices, even in the context of remote work. This technology not only facilitates the work of employees, but also helps reduce operating costs, improves security and transparency in business. For companies that want to maintain a competitive edge and effectively manage their processes regardless of the physical location of their employees, OWIS is the right choice.