It’s the end of the year, a busy time for many businesses. Yearly goals must be met and projects completed. How to recognize employees’ achievements at the end of the year? Is a new coffee mug or a gift cards enough? Our recommendation is to give your employees tools that will help them work smarter next year, save time and achieve goals more effectively, in order to ensure the company’s success and growth.
Does the company receive a large number of invoices in various formats each month, many of which are PDFs? In this case, accountants have to manually enter them into the programs, and this manual activity is not a reasonable use of their work hours. A digitization solution can be of great help here. We automatically transfer all the company’s purchase invoices to the form of an e-invoice – so all expense documents can be found in one environment as soon as they arrive, and the accountant saves time in two ways. It is no longer necessary to enter invoices manually, and the amout of errors decreases. As a result, less time is spent on post-processing invoices and correcting errors.
Smart expense reports
At the end of each year, the amount of expense reports increases – all the Christmas lunches, gifts for clients, etc. This leads to an avalanche of paper checks on the accountant’s desk. Some of them have faded, others have disappeared altogether. With Finbit’s expense report solution and mobile application, you can take a picture of the check immediately after the purchase, enter it into the system as an expense report, or send it for digitization. The accountant can then take the necessary actions. In general, the value of the expense report is returned to the bank account of the submitter up to 6 times faster compared to the classic paper check solution. Time is saved both by the submitter of the expense report and by the accountant.
Smart confirmation circle
With the help of the smart confirmation circle, invoices and expense reports can be approved with one click from any smart device. If an invoice that needs to be conirmed comes into the system, the approver will automatically receive a notification via e-mail, through which the invoice can be confirmed or, if necessary, opened and checked more closely. In this way, all parties involved have an overview of the expenses, and the accountant does not have to track down the approvers by email or chase them around the office. Also, in the case of recurring invoices, it is possible to automate the confirmation process so that every month the incoming invoice is automatically sent to the same persons.
In addition, the smart confirmation circle offers additional protection against invoice fraud, as it ensures a stable and clear process for confirming invoices. For example, you can make it mandatory to add a contract number to the invoice or set a confirmation limit for certain employees.
And with the Christmas holidays on the horizon, the confirmation circle ensures that invoices are still approved during this period. In the Finbite environment, it is possible to appoint a substitute during the vacation, who has the right to confirm invoices during that period.
An all-in-one solution that helps automate repetitive processes related to invoices
In addition to the three solutions mentioned above, Finbite’s environment offers many more options for automating invoice-related activities so that you can devote more time to growing your business. Contact us at firstname.lastname@example.org and we will find the best solutions that will help you save time and money and work smarter.