Struggled through the pain of year end?
Streamline your finance processes next time with Zetadocs
If – like thousands of other businesses – you’ve just completed your year end, you might have spent January onwards having a mini-meltdown getting to grips with your accounts.
Maybe it went smoothly, but if not, you’ll probably already be dreading this time next year. But there is an easier, more efficient and less time-consuming way to finish off the year’s accounts.
In this article, we’re going to look at how you can avoid the pain of year end by getting rid of the cumbersome, paper-based finance processes that can clog up accounting systems.
The main cause of finance process pain
A major hindrance to efficient finance processes is a lack of centralised electronic document management and control processes.
Paper-based finance processes, even for those using an accounting system such as Microsoft Dynamics NAV, can be slow and time-consuming, and lead to inefficient finance administration. This can result in:
- Time wasted on manual handling and despatch of paper documents such as purchase orders, receipts and invoices
- Sloppy or careless paper document filing/mis-filing, leading to slow search and retrieval
- Incorrect posting of expense transactions with receipts or claim forms going missing
What’s more, these issues apply across many of the main finance processes in the business, including:
- Sales order processing
- Electronic invoicing
- Delivery tracking
- Collections management
- Supplier invoice processing and approval
- Employee expense management
The solution is to replace cumbersome paper-based and manual processes with automated, centrally managed electronic processes that are faster, more cost-efficient and easier to control.
End of year finance processes made easier with electronic document processing
At year-end, a major requirement is to ensure that all income and costs can be easily and quickly captured, documented and reported so that the accounts can be reconciled correctly.
This process can be radically improved by eliminating the use of paper earlier on in the year, so that the finance document processing times across the business reduce and new efficiencies are found.
For example, the process of invoicing can be automated so that it is managed directly from Dynamics NAV using Zetadocs for NAV.
Zetadocs enables electronic invoicing, allowing the finance team to benefit from much faster delivery and archiving of electronic invoices and a drastic reduction in the cost and time of invoicing.
Instead of maintaining paper files, all information relating to a sales transaction is electronically filed – making it easier and quicker to find; in turn, query resolution is speeded up and customer service improved, whilst at the year-end there’s no frantic searching for misplaced paper invoices or confirmations.
What’s more, costs reduce because invoices are sent via email instead of post and cashflow is improved by speeding up the whole invoicing and payment collection process using electronic batch processing of documents.
Just think about the improvements that would accrue if the benefits of electronic invoicing using Zetadocs for NAV could be replicated across all your core Microsoft Dynamics NAV accounting processes?
They can be. With the Zetadocs for NAV suite you can automate and streamline business processes for:
- Handling and approving supplier invoices
- Emailing sales invoices and notifications
- Capturing proof of delivery
- Managing travel and business expenses
Contact Equisys or your NAV Partner to arrange a demonstration of Zetadocs. Or watch a webinar to learn about the incredible features of Zetadocs.
Contact your Account Manager now or email email@example.com.