Exploiting cloudy invoices

One of the common pieces of advice given to businesses looking to make their first steps into working with cloud-delivered services is to identify a well-understood business process and start with that as a pilot project.

A good example of that is integrating incoming invoices into the accounts system, as this is one of the most common and fundamental business management processes. And this is the target for a partnership between ReadSoft, an approved Sage developer, with integration capabilities into key Sage Systems, and Goodwille Ltd.

The aim here is to deliver the first cloud-based data capture and document processing of supplier invoices that can be integrated with Sage 50 Accounts.

By working with ReadSoft Online, a cloud-based document and invoice automation service, Goodwille customers that use Sage 50 Accounts can now improve control, and ensure accounts payable processes are more consistently managed. This enables organisations operating across international borders to meet the highest levels of compliance as they establish and maintain operations in the UK.

Document images are received by ReadSoft Online and data extraction commences immediately, processing the invoice in minutes. Any uncertainties requiring user verification or manual field completion are rapidly identified and resolved. ReadSoft Online then exports the invoice data and image, automatically registering the invoice as a transaction in Sage 50 Accounts.

In addition, ReadSoft Online enables document images to be automatically stored within the cloud, providing very low cost, short term storage and back up, with immediate access, to the business user or finance department. Local storage is only needed to hold an internet shortcut to the invoice image, which means that on-premise storage is reduced by as much as 90 percent.

: “Working closely with Goodwille has enabled us to create one of the easiest to use accounts payable systems on the market,” said Simon Shorthose, Managing Director, ReadSoft UK. “As long as you have access to a web browser, then all it requires is click to verify and quickly approve invoices with transactions automatically registered in Sage. This provides tremendous advantage to companies both abroad and here in the UK looking to increase efficiencies and reduce their costs, especially in the first phases of startup and growth.”