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Jumping on the artificial intelligence train? Here’s how procurement and finance benefit from AI

A tremendous amount is happening in the field of artificial intelligence (also called “Artificial Intelligence” or, for short, “AI”). From summarizing meetings to producing videos: bots can do more and more. The tools are flying around your ears. And now that the world is getting smarter and smarter, you from the procurement or finance department would also like to jump on the artificial intelligence train. But in a way that makes your job easier. In your case, this probably means that you want to automate repetitive, boring tasks. That way you can focus on tasks you enjoy and that are more challenging. But which options are really interesting for procurement and finance departments?

Are you allowed to keep invoices digitally?

Storing invoices digitally: you hear more and more about it, but you struggle with the necessary questions. Because is this actually allowed? And if so, where do you start? Although smart solutions for digital booking of purchase invoices exist today, the archiving process within many organizations is still paper-based. Many a financial administrative employee in 2019 still spends a lot of time storing purchase invoices in folders, which are kept in cabinets in the office. Such a paper archive also makes retrieving an invoice at a later date a time-consuming task. Recognizable? Then you might be considering a more efficient alternative: storing invoices digitally. But what should you take into account when switching to a digital archive?

What is a UBL invoice and what processing challenges are involved?

You hear the term “UBL invoice” thrown around more and more. UBL is a movement on the rise. The topic was put firmly on the map early this year when the government required suppliers to submit invoices digitally in UBL format. We think this is a very nice initiative and so we embrace it. Since Whitevision helps organizations work more efficiently, such a standard also raises our curiosity. To adapt our solution to UBL, we delved into the subject. What is a UBL invoice? What challenges do you face when trying to process an UBL invoice? And how do you confront them? We tell you all about it in this blog.

Processing incoming documents: what’s the next step? On to the future!

Repetitive work and manual actions you want to limit as much as possible. Because that’s not how you get the most out of yourself. Moreover, it is not very efficient. What if you could automate all these kinds of tasks, leaving you much more time for work that would make you happier and add more value to the organization? This thought forms the basis for the (further) development of our solutions. For us, the user is central: they must always be able to work easily with a system. That is why our solutions connect to business processes at a very high level. No matter how these are organized, ease of use remains. In the continuous further development of our own software, this remains a crucial factor. Curious about what you can expect from us in terms of innovation in the near future? We would like to update you in this blog.

Software invoice approval:
4 characteristics of a good workflow system

Approving invoices involves a process. At some companies, this is still done entirely manually: they print out paper invoices to pass from desk to desk. However, most organizations these days circulate digital invoices via email or network folders. In either case, the margin for error is very high. Invoices easily get lost or stay in one place too long, causing you to miss a payment discount. Plus, no one has good visibility into the approval process. That can be done differently – and by automating invoice approval through a workflow system.

Records retention: mini guide to keeping your records digitally

Keeping your records is not a choice, but a must. This is because it is a legal requirement to record all data about your business. You must also be able to retrieve them over a certain period of time, for example in the event of an audit by the tax authorities. But the details regarding the legal retention obligation are not clear to everyone. That’s why you Googled the term “legal records retention period. How long must you store your records? How can you keep records? And how do you keep your records in order? In this mini guide to keeping your accounts digitally, you’ll find the answers to these questions!

5 trends that will affect document recognition and financial accounting processes

The world has rapidly begun to look very different. Technological developments were rapid before the pandemic, but the corona crisis accelerated them. In the past year, organizations have embraced far-reaching automation en masse. The result: an array of new trends in document recognition and financial accounting processes. Can’t see the forest for the trees? No problem. We follow the trends closely. In this blog post, we list the 5 most important ones for you!

Workflow Tool: 5 Reasons Why Your Financial Administration Can’t Do Without It

A workflow consists of the various steps you need to take to process an incoming document within your organization. This document could be a purchase invoice, but it could also be a packing slip, delivery receipt, order confirmation, signed contract, or evaluation form. Various colleagues must approve it. But things can sometimes go wrong during the process. If you don’t use a workflow tool, it’s not always clear where a document is or who needs to take the next step. Moreover, it’s often difficult to answer questions after the fact, because you can’t manually keep track of who did what and when. The result: confusion, a lack of clarity, and a lot of legwork for the financial department.

Text recognition pdf: what software options do you have?

You have to deal with PDFs on a regular basis in the financial administration department. After all, the stream of incoming documents contains many pdf files. It is important to process these adequately. How do you do that? By applying text recognition. With good scanning and recognition software, you automate the processing process: you no longer have to perform manual operations, allowing you to focus on challenging tasks that add more value to the organization. Moreover, you work more efficiently and reduce the chance of error, because the software eliminates overtyping. One caveat: you only enjoy these benefits if you choose the right software.

What is an XML invoice and what processing challenges are involved?

In finance, you have gone through many changes over the past few years, especially when it comes to incoming document processing. The vast majority of companies now receive (almost) no paper invoices. They handle the incoming invoice flow by mail – usually through a separate invoice mailbox. At the same time, the formats in which invoices come in have increased in diversity. A PDF file, a UBL invoice (“UBL” stands for “universal business language”) and, of course, an XML invoice: you receive documents in all shapes and sizes. E-invoicing is gaining prominence. As a result, you face new processing challenges. With electronic invoices on the rise, what do you need to consider in finance? And how do you meet the challenges? And what exactly is an XML invoice?

OCR software: the ‘what,’ ‘how’ and ‘why’ of scanning and recognition

‘OCR’, ‘Optical Character Recognition’, ‘optical character recognition’, ‘software OCR’, ‘scan and recognize‘: the terms around document recognition are flying around your ears – and you’ve probably Googled them all by now. But the information surrounding the subject is often technical and subjective, making it difficult to get a good picture of OCR. Where can you find the explanation you’re looking for? On this page, we list all the important questions and answers regarding OCR software for you! The basics of OCR software: understanding optical character recognition Curious about the principle behind OCR and the benefits you can get from OCR software? In this section, we’ll go into that in more detail.

Scanning and recognizing invoices anno 2024: how to take advantage of the latest technology?

Do you want to scan and recognize invoices in the most efficient way? Then it is important that you are up to date with the latest techniques.

Scanning and booking invoices: how does interfacing with your ERP system work?

Scanning and booking invoices with a good automation solution saves you a lot of time. But you’re only truly efficient when this solution interfaces with your ERP system. What exactly should you imagine?

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With a (web) demo, you can quickly and easily see what benefits our solution brings you.

Schedule your demo

With a (web) demo, you can quickly and easily see what benefits our solution brings you.

Schedule your demo

With a (web) demo, you can quickly and easily see what benefits our solution brings you.

Schedule your demo

With a (web) demo, you can quickly and easily see what benefits our solution brings you.

Schedule your demo

With a (web) demo, you can quickly and easily see what benefits our solution brings you.