Australian expense management software provider, expensemanager, has launched a new Cloud software that aims to help SMEs go paper free. Named Invoice Module, this solution was developed specifically for the Australian SME market and automates the front-end receiving, handling, digitising, and data entry process for supplier invoices.
Expensemanager CEO and founder, Sharon Nouh, said the solution was launched as there was a growing demand by companies for accounts payable automation, and one of the top priorities for finance teams was to go paper free.
"So we set out to create a product that offers automation of invoice management in the same platform with our expense management.
"This is a new development for us as we are the only locally developed product that offers both solutions in the one platform and as our solution is Cloud, it’s affordable and relevant for the SME market," she said.
By using scanning technology, suppliers can email their invoices to the company's document vault in expensemanager and the invoice is scanned, supplier matched and a request for payment is automatically created from the invoice data. Unmatched suppliers are routed through an exception process so only company approved suppliers are paid and an invoice duplication process stops companies paying invoices twice.
Nouh indicated customers using this module can further improve their approval process by configuring automated routing steps to ensure invoices are immediately delivered directly to the appropriate individuals for approval.
She also said expensemanager delivers benefits across multiple levels for companies large and small looking for cost savings.
“For CFOs it improves processes, saves time, money and controls risks. CTOs love that it’s a SaaS (Software as a Service) delivering low cost, low risk and no IT infrastructure, and for end-users the product is intuitive and easy to use.
“All of our new customers when looking at expense solutions, had paper free invoice management at the top of their ‘must haves’. It’s almost a given now that companies have to move to digital receipts as the paper receipts fade,” she added.