Emails are replacing letters, ebooks are replacing books, online calendars are replacing diaries... So it's only natural that the rise of digital technology should be at the heart of business practices.
The digital transformation of companies today involves the dematerialization of many documents, such as invoices. In fact, this is an important lever for creating value. So, what is invoice dematerialization? How can it be implemented? What are the benefits for companies? Here are the answers.
Invoice dematerialization: what is it?
Document dematerialization: definition
To fully understand what document dematerialization involves, it is important to distinguish between native dematerialization of the duplicate dematerialization. The former involves creating and receiving new documents in digital format, while the latter involves copying documents received or existing in paper format into digital format. In the case of duplicate dematerialization, dematerializing means transfer data from paper to digital media from an information system.
The type of digitized documents can vary: letters, invoices, monetary flows, administrative procedures… All of these documents are then centralized via intranet or internet, so that all employees of the company have access to the right information.
What does dematerialized invoicing involve?
Contrary to popular belief, the invoice dematerialization does more than simply scan paper invoices into digital format. It designates a entire process of :
- Scanning: Create a digital copy of a paper document
- Data entry : Manual integration of data into the memory of an electronic device
- OCR processing : Convert a text image into machine-readable text using optical character recognition (OCR)
- Information extraction : Capture the content of paper documents using automatic document readers (ADRs).
- Indexation : Describe and characterize a document
- Archiving : Collecting, classifying and storing documents
What are the advantages of electronic invoicing?
- Electronic invoicing to cut costs
According to Ernst & Young, the cost of processing a paper invoice averages €15. Paper, printing, postage, archiving, human resources... When all the elements are put together, processing paper invoices is particularly costly. Dematerialization can significantly reduce costs, saving both material and human resources.
- Save time by dematerializing invoices
Thanks to the invoice dematerialization, all data is centralized, saving time. Information control, approval processes, dispute management... everything is simplified and optimized. As a result, employees spend less time on repetitive administrative tasks with little added value. They can devote themselves to more strategic and rewarding missions! In fact, a recent study has shown that dematerializing invoices makes it possible to achieve a 75% reduction in processing time.
- Dematerialize invoices to secure processes
In addition to being time-consuming, all the manual steps involved in processing paper invoices can be a source of errors and lost information. Dematerialization makes it possible to secure information and processes. Online storage is more reliable and traceability is improved.
- Dematerialize invoices to improve productivity
According to a study by IDC, 30% of accounting department time is dedicated to manual entry of supplier invoices. By dematerializing invoices, we can reduce this processing time by 30%! This in turn improves productivity.
- Dematerialize your invoices to reduce your carbon footprint
Finally, dematerializing invoices enables companies to reduce their carbon footprint by cutting down on paper, ink, printing, mail transport, etc. In this respect, dematerializing invoices enables companies to save between 8 and 39% of paper !
Invoice dematerialization: how do you set it up?
There are many document management tools available today. EDM solutions (Electronic Document Management) are dematerialization software packages that facilitate document flow management. They enable you to manage, store and modify dematerialized documents.
To be truly effective, these tools require dedicated human resources, in particular to data verification and entry. At present, no system can guarantee a correct result for 100%. This uncertainty is inherent in the digitization of invoices. To benefit from the advantages and reliability of dematerialization, companies need to be able to manage errors.
The good news is that there is a simple and easy solution to this problem: the outsourcing ! By entrusting all or part of the managing your dematerialization process you'll benefit from :
- Significant cost reductions and more flexible working hours (24/7) for offshore outsourcing;
- More responsiveness in setting up operations thanks to an efficient and agile professional contact;
- Increased flexibility in response to a specific need, thanks to an adaptable contractual relationship;
- More time to devote to your core business.
Would you like to start dematerializing invoices and optimize your information flows? Business process outsourcing company, Vivetic Group supports your company's transformation.
Whatever the medium, digital or paper, we optimize your incoming document flows through multi-channel scanning and capture. We offer you high-performance, secure solutions for digitizing, capturing, classifying, automating and archiving your documents. If you have an EDM solution, we take care of everything, centralizing information in your tool. So your document and information management processes are optimized!
Vivetic Group is :
- Fast response and implementation
- Greater flexibility in human resources management
- A certified service provider
- A relationship of trust
- A scanning center in Aubervilliers for all your documents
- Significant cost optimization and 24/7 availability thanks to our offshore site
Discover all our solutions to support you in the process of document dematerialization.
