- Posted by Awara
- On July 6, 2012
- Comments 0
- Views: 2037
Automated Invoice Processing
- e-Invoicing + Invoice Automation
- Purchase-to-Pay solutions
- Procurement systems + e-Procurement
PURCHASE INVOICES PROCESS AUTOMATION
Automation of the work in processing orders and incoming invoices is a first priority task for obtaining important cost savings through efficiency, avoiding manual work and gaining exactness and visibility in financial administration.
Workflow control. Imaging. Order matching. Approval routing. Control. Better business. Unique posting to General Ledger. IFRS Ready!
The solution is Awara Purchase Manager
All companies run complex routines in managing purchase orders, invoices, and payments. In the last century this meant huge amounts of manual work and hence costs and inefficiencies. In the last decade these issues have internationally began to be solved by implementing a system of automatic processing of invoices.
CFOs that have done it have raised the quality of their financial administration to totally new heights. And now this can be done in Russia, too, with Awara Purchase Manager.
- Matches invoices from order to delivery to payment
- Controls collection of all supporting documents
- Enables remote control and approval of invoices of all offices
- Establishes ordering authorizations and approval routines
- Matches invoices to projects and cost centers
- Plans your cash flow
- Gives online reports on maturity of invoices and outstanding orders
- Feeds correct accruals for IFRS reporting
- Posts invoices to general ledger
“Planning the cash-flow was a nightmare and reports were anybody’s guess.”
“Earlier we had no means of recording the invoices on accruals basis and had to wait until payment before we booked them in the accounts. And therefore the financial reports were always misleading.”
“For Russian accounting we need to justify an expense with an deed of completion of service and connect this deed with the invoice. Before we had this system we had no way of monitoring timely collection of all those papers.”
“The problem was always to identify why something was ordered, where it had gone, and on who’s initiative it was done. Now I will know all I need just with pressing the button.”
“Imaging what a problem partial payments of an invoice used to cause when the history of the invoice was not recorded anywhere! And some invoices were paid twice.”
“Now we have a complete audit trail of all expenses. Both internal and external auditors love it.”
“Manual processing of invoices is not of this century.”
“Turn manual paper work and repeated data input into instantly available information in any of your systems anywhere, anytime.”
In Awara Purchase Manager scanning of invoices enables electronic imaging through a system of optical character recognition. The scanned image itself serves as support, especially in approvals and control. Important efficiency is gained through decrease of manual work and increased processing capacity: Electronic files are instantly available for those who will needed them: managers, accountants, controllers
“Awara Purchase Manager covers the full lifecycle from purchases to payments, accounting and reporting, including International standards.”
Matching deliveries with orders and invoices
Traditionally one of the most time-consuming processes in financial departments is the manual work of matching orders to deliveries and invoices.
But with Awara Purchase Manager that job is done automatically. No valuable time and resources is lost on trying to identify differences between orders, actually received goods and invoice data.
Unique posting capacity
Full automation means full integration of all financial software where all external data is entered into the systems of the company only once.
For example, Awara Purchase Manager creates the postings to general ledger automatically upon execution of payments.
But its more: The Awara Purchase Manager is IFRS Ready©, meaning that the uniquely the differences in Russian and International accounting practice are recognized, and Awara Purchase Manager handles all postings for RAS as well as for e.g. IFRS or other defined standards.
Awara Round Trip Reporting Service
Awara IFRS Ready ©Awara Purchase Manager Standard Plus Awara Purchase Manager for 1C Awara Purchase Manager for Microsoft Awara Purchase Manager Universal Awara RoundTrip Service© is a premium class business administration suite that enables a custom built management reporting to be built from Russian accounting and other business records. Now bringing management reporting in Russia up to international standards.
The Awara RoundTrip© service monitors, collects, processes, and records reporting critical data from any defined data sources and transforms them to your reporting environment in any format, anywhere around the world.
This way we endow our products with IFRS Ready© functionality. Never has it been so feasible to provide international reports from Russian accounting.
Awara IFRS Ready ©
|Awara Purchase Manager Standard Plus||This purchase manager is applicable to those organizations that aim for efficiency and cost savings, but do not require strong integration in terms of IT-structure.|
|Awara Purchase Manager for 1C||Awara Purchase Manager for 1C is our unique product tailored to function with the 1C, Russia’s number one accounting software.|
|Awara Purchase Manager for Microsoft||Good news for Microsoft ERP users, Awara Purchase Manager for Microsoft is optimized for your Microsoft ERP and accounting environment. Take full advantage on top of your localized ERP/accounting solutions. Works with Microsoft Dynamics Nav and Ax.|
|Awara Purchase Manager Universal||This solution allows you to implement an automated purchase-to- pay system with any ERP system you may possibly run. It allows for faster and cost efficient implementation. You get the best of east and west: if your global ERP for production and logistics is SAP you can now integrate it to our Russian purchase-to-pay system with proven compatibility with Russian accounting standards|
For further information:
Global call center for all countries:
+ 7 495 225 30 38