Invoice Processing Solutions

Invoice processing

A fast and efficient office accounts system is critical to the functioning of a healthy business. Speedy access to sales and purchase data not only provides an accurate overview of outstanding liabilities, invoice status and cashflow position, but enables business owners to make properly-informed planning and forecasting decisions.

Efficient accounting systems are the backbone of responsive organisations. Simply having accurate data available to hand in a timely manner reflects well on a company, at a stroke improving customer and supplier relationships. It means you can quickly resolve queries, data errors and invoice discrepancies before they turn into payment disputes and give rise to late payment penalties.

By contrast, companies which still rely on paper-based processes face an increased risk of data errors and delays, and the increased cost and impact on reputation that this can bring.

With our expertise and dedicated solutions, UTL can help companies minimise their accounts payable costs by cutting invoice processing times by up to 42%. We seek to achieve this through the automation and optimisation of invoice receipts, validation and approvals.

Our approach to rationalising accounts payable processes also enables companies to be more certain over timescales and removing bottlenecks, while enhancing performance on your compliance and audit responsibilities – as laid out, for example, by the BSI BIP 0008 and HMRC electronic document retention guidelines.

Automation removes much of the time staff spend on entering data, improves data entry accuracy, cuts the number of lost invoices by as much as two thirds, and ensures the prompt availability of accounts documentation for query and/or dispute and audit purposes. So not only is this likely to reflect well on your organisation, but it will also free staff to focus on more productive revenue generation or customer service activities.

In other words, by helping you cut your invoice-associated risks and costs, we’ll help your company focus on new opportunities.