Streamline invoice processes with Doxis4
Paper-based invoices cost companies an average of $15 each, which covers the labor costs of manually capturing, verifying, posting and filing the inbound invoice. Most companies begin by photocopying paper-based invoices and then sending them to various departments for verification. Any data relevant for accounting is then entered into the company's accounting and payment systems. If someone makes a mistake when entering this data, the process gets delayed even further.
A great deal of time is also wasted trying to obtain additional information for the invoicing party, colleagues and superiors. The long invoicing process (particularly those in place in companies with several sites) can negatively affect the company's eligibility for discounts. Failure to meet payment conditions could cause long-lasting damage to your relationship with your supplier. Liquidity planning might also suffer as you are unable to accurately calculate liabilities. Under these circumstances, precise cash-flow planning can be very difficult or even impossible.
With Doxis4 InvoiceMaster you can automatically process all inbound invoices, partial invoices and collective invoices (with or without a purchase order reference) on a daily basis. An invoice could be comprised of a single one-page or several hundred-page (e.g. as in construction invoices) document. All inbound channels — from mail, fax, and email to electronic sharing formats — are covered. Depending on the organization, invoice reading and verification can take place either decentrally or centrally as a shared service at one location for the entire company.
As easy as 1, 2, 3, 4
Inbound invoices are processed in just four steps:
- The inbound document is scanned,
- the name of the supplier and all accounting-relevant data is identified,
- the workflow-supported invoice is verified and
- the documents are archived in an audit-proof way.
In the first process step, the document is scanned using Doxis4 Capture. This function supports a range of scanning scenarios, from a single centralized scanning process to scanning documents at various locations. Once the invoice has been successfully verified for correctness, the invoice is passed on for further invoice processing while also being archived in the Doxis4 Content Repository. If you also use Doxis4 eRecords, the invoice will be allocated to the corresponding folder of the supplier record.
In the next step, the document text is identified using OCR (optical character recognition) technology. All data needed for further processing is now extracted and validated using Doxis4 InvoiceMaster Read. The text extraction process is improved on a continuous basis thanks to a combination of generic and self-learning processes. The validation process also checks that the entries fulfill tax regulation requirements. Any invoices containing errors are rejected. A number of predefined templates can be used to create automatic notifications sent by post, fax or email.
All accounting data detected during the OCR process is used for a number of different purposes, e.g. for classifying the supplier. It is also automatically verified with supplier data in your ERP and accounting systems. Invoices from suppliers based in another country are processed in the corresponding language and currency and in accordance with the applicable tax regulations. Of course, the system also supports SEPA, too.
The aim: Automatic invoice posting
Once the invoice has been verified, the invoice and order reference are then verified with the order data in your ERP system on an item-by-item basis. If all items match (i.e. there are no inconsistencies in price, quantities, etc.), all relevant data is passed on to the accounting department. Following this step, the invoice can be posted automatically and added to the payment system.
A special validation workstation is available for any post-processing work. This includes colored highlighting and search functions which make it easier for the supplier or the recipient of the invoice to search for and correct errors. Once the validation process has been successfully completed, the invoice is transferred to the invoice verification workflow. Depending on which ERP system you use, you may be able to fully integrate the invoice verification process into your existing system. For example, if you use SAP, the process can be integrated using Doxis4 InvoiceMaster SAP Control. Alternatively, you can integrate certain parts of the process using Doxis4 InvoiceMaster Control.
The invoice verification process involves checking the content and calculations, clarifying any price and quantity discrepancies, account assignment for invoices without a purchase order reference, approving/rejecting invoices, and archiving the final document to meet tax requirements.
The approval process can be adapted to your own corporate policies. It covers everything from the typical separation of duties to highly intricate, multilevel release structures with simultaneous verification on item levels. Doxis4 InvoiceMaster Control also enables you to appoint deputies, and it provides group workbaskets.
The invoice monitor
Doxis4 InvoiceMaster Control includes an invoice monitor as a fixed component. This monitor gives a clear and immediate overview of all invoices currently in progress and any invoices that have been captured or are already being verified.
Mobile invoice approval
The ability to approve invoices while you are out of the office helps to speed up the process even further. Doxis4 InvoiceMaster Control provides users with a web-based approval app that is compatible with Windows, Apple iOS, Blackberry or Android on smartphones or tablets.
Once the invoice approval process is complete, the process is logged and filed with the invoice (which had already been archived in the audit-proof repository earlier in the process). Any data and document IDs entered into the accounts are also archived with the document. This ensures that the entire invoice verification process is transparent at all times.
Expansion of automated invoice processing
Doxis4 InvoiceMaster contains all the functions you need in a single solution. Thanks to its close integration into all leading ERP systems such as SAP ERP, Infor ERP, MS Dynamics, NAV/AX and the Oracle E-Business Suite, this solution offers the perfect complete package.
Automated inbound invoice processing forms the technical basis for processing all forms of media that arrive in your company's inbox. If you combine Doxis4 InvoiceMaster with our electronic records, task and process management and document management solutions, you can create an extensive company-wide enterprise content management system that can be used to streamline document-laden business processes.
What it has to offer
- Quick, high-quality and low-cost inbound invoice processing
- Integration of all inbound channels: post, email and fax
- Compatible with SEPA and ZUGFeRD formats
- Transparent overview provided by up-to-date invoice monitor
- Verification process checks mandatory data required under tax laws and regulations
- Approval on the go using smartphone or tablet
- Seamless integration in ERP and accounting systems
Exclusive +Content for registered users
Invoice processing - Doxis4 InvoiceMasterBrochure »
Off to a flying global start: Invoice management at EissmannBest Practice »
International invoice management with SAP and SERBest Practice »
KNIPEX-Werk C. Gustav Putsch KG: DMS with email and SAP archiving, eRecords, and automated invoice managementBest Practice »
Doxis4 InvoiceMaster Control - processing incoming invoicesFact Sheet »
Doxis4 Invoice Master is comprised of three modules which can be implemented separately or combined.
- Doxis4 InvoiceMaster Read
Highly efficient process for extracting and validating all data and invoice items (pre-trained and self-learning process)
- Doxis4 InvoiceMaster Control
Verification and approval of invoices across all systems throughout the entire company
- Doxis4 InvoiceMaster Control for SAP
Invoice verification and approval process integrated directly into SAP (incl. web-based client for non-SAP users)
How automated inbound invoice processing can help you
Features & strengths
Doxis4 InvoiceMaster processes cost accounting and supplier invoices with and without a purchase order reference, partial invoices, collective invoices, and correction invoices. It covers invoices in any format from any channel, be it mail, fax or email. Doxis4 is also compatible with many current electronic invoice formats. It is designed for deployment in international companies and available in 12 languages.
With Doxis4 InvoiceMaster, virtually the entire invoice entry process can be automated: from documentation classification and text recognition, to data extraction for further processing, to validation. The combination of various analysis methods, self-learning approaches and the opportunity to train the system to recognize unknown invoices all continuously improve the overall recognition. There are a range of validation mechanisms that can check the completeness of data in accordance with tax regulations and requirements. They can also check the consistency and verify core invoice data from the ERP system. Errors are thereby detected early on which reduces the amount of invoice verification and approval work later. Provided that all data is correct, it is possible to process invoices with a purchase order reference fully automatically or even have them automatically posted.
Doxis4 InvoiceMaster supports a wide variety of approval scenarios so that you can adapt approval processes to your company and its organizational structures. It covers everything from the typical separation of duties to highly intricate, multilevel release structures with simultaneous verification on position levels. If any points need to be clarified, you also have the option of adding employees to the verification process on an ad hoc basis. Doxis4 InvoiceMaster also gives you options for setting up deputies for particular tasks and or for using group workbaskets. If you are out of the office for any reason, you can use a special universal web app or the email system to take part in the invoice approval process no matter the time or location (Doxis4 Mobile Workflow Access).
In a few clicks, Doxis4 InvoiceMaster also provides preconfigured reports with bar, pie, line and scatter charts that give an up-to-date overview of the invoice processes and improvement potential: How effective is inbound invoice processing? Where are the bottlenecks? For which invoices is there a risk of losing a cash discount? How high is the automatic posting rate for invoices with a purchase order reference? In this way, Doxis4 also helps to optimize individual invoice processing to improve control and more efficiently process invoices in general.
The respected auditing firm EBNER STOLZ has confirmed that Doxis4 complies with the legal requirements for electronic invoices set out in article 14 (1) of the German Value-Added Tax Act. The auditors confirmed that the tested software product Doxis4 enables “Doxis4 customers to process and archive inbound and outbound invoices correctly in accordance with the requirements under article 14 (1) of the German Value-Added Tax Act as per the regulations of the 2011 German Tax Act Simplification Law and the additional explanations provided on this subject in the letter issued by the German Ministry of Finance (BMF) dated 2 July 2012, assuming that the customer uses the software correctly and carries out the relevant organizational checks.” EBNER STOLZ declares that “the modules that we tested from the Doxis4 iECM suite can therefore be deemed as suitable and functional for proper accounting.”
The entire process for automated capturing, assignment, verification and posting of inbound invoices is transparently documented and archived in an audit-proof way. The optional Doxis4 archive automatically manages the retention periods, which means that documents subject to retention are stored according to legal, corporate and industry compliance regulations. This high level of security is reflected in the IDW PS 880 certification given to Doxis4 iECM suite from the internationally renowned auditing firm Deloitte & Touche. This certification confirms that the electronic archiving is conducted in an audit-proof manner according to the general principles of proper computerized accounting systems and German fiscal and tax code (AO, HGB and GDPdU).
Introduction to automated inbound mail processing
Inbound invoice processing is the perfect start to company-wide and automated inbound mail processing. Doxis4 InvoiceMaster is based on the technology used in the universal Doxis4 Inbound Center.
In the Doxis4 Inbound Center, all inbound mail, email and faxes of a company are automatically captured and distributed. Scanned paper documents and electronic documents are integrated into one process, thus avoiding media disruptions. This solution is not only suitable for larger corporations, but also for an increasing number of medium-sized companies.
The advantages are clear: Transportation and waiting times decrease. Context-related and process-related invoice information is available immediately upon receipt and ready to be worked on, without media disruption. This speeds up processes considerably. The documents are assigned to a process instance, through which the user can directly retrieve all further information.Find out more about inbound mail processing in Doxis4
What it has to offer
- Multi-channel processing, keeping all documents in a single media format
- Automation by classifying content
- Quick assignment and distribution speeds up processing and improves accountability
- Direct integration into business processes
Overview of automated invoice processing in Doxis4
Reading invoices (Doxis4 InvoiceMaster Read)
- Processes all incoming invoices in a variety of formats from diverse channels (paper-based, fax, email, ZUGFeRD)
- Processes a variety of invoice types (invoices with or without a purchase order reference, partial and collective invoices)
- Supports both early and late capturing
- Applies OCR technology to scanned documents
- Extracts all process-relevant data (e.g. supplier, invoice recipient, header data, master data, invoice items, etc.)
- Able to improve and monitor recognition performance automatically
- Is fully compatible with SEPA (additional fields for IBAN and BIC, review process for the supplier's account details and IBAN)
- Validates and checks data in accordance with German tax law and other laws/regulations
- Includes a convenient validation client for verifying and correcting documents
- Operates independently of the ERP and archiving systems
- Supports a number of different languages, currencies and tax rates
- Verifies data with master data in the ERP system (certified SAP interface, universal interface for all other ERP systems)
Invoice verification (Doxis4 InvoiceMaster Control)
- Invoices with and without a purchase order reference
- Configurable approval strategies
- Single layer/multi-layer
- Automatically finds the person responsible for the next step
- Provides release steps and amount limits
- Detects and checks deviations in prices and quantities
- Separation of duties
- Works with group and individual workbaskets (direct assignment)
- Supports account assignment with suggestions and search dialogs
- Separate account assignment lists (individual or other account assignment data)
- Offers monitoring through reports and history
- Flexible escalation mechanisms
- Individual comments for each process stage
- Ability to create documents for supplier correspondence
- Parallel approval processes by assigning process instances to several employees
- Option to assign deputies
- Mobile access to process instances thanks to a state-of-the-art web interface
- Integration into the Doxis4 clients Doxis4 winCube and Doxis4 webCube
- SEPA-compatible: supports both IBAN/BIC and account numbers/sort codes
- Certified interfaces to SAP
- Universal interface for all other ERP systems (Universal ERP Connector)
- Flexible application – even in third-party archives
- Conveniently transfer process data into SAP GUI via Doxis4 SAP Remote Control