Need to Improve Your Financial Reporting?
Inaccurate financial reporting can cause serious business issues, as we’ve seen in the news this week. So what processes can companies put in place to improve their financial reporting, reduce business costs and get a better handle on their figures? Here’s a few ideas…
Digital Invoice Processing
Consider digitising your invoice processes. Utilising an outsourced invoice processing service, invoices can be scanned on arrival and data automatically extracted using smart capture software. Invoice data can then be routed to the correct person for authorisation/approval using on-line document workflow solutions. This will speed up your invoice processing, save time on manual data entry, eliminate duplicate payments and provide a full electronic audit trail of your financial processes.
Automated digital processing will provide invoice data for your financial systems faster, enabling your senior management team to make more accurate business decisions and forecasting, monitor supplier payments and have a closer view on business finances.
Digital Invoice Processing will also improve supplier relationships, provide faster payments and enable you to identify any supplier issues or processing bottlenecks.
Real Time Business Dashboard Reporting
Enable real time business intelligence and reporting using an on-line dashboard solution to pull together information from multiple sources and databases. Allow your Senior Managers to access data quickly and easily, to monitor company performance and gauge if your business is working to target or under performing. Online reporting enables users to:-
- View data in a customisable , user friendly format, providing a single view of KPI & Management Data. The dashboard presents data from multiple departments, databases and sources e.g. Financial Information, Manufacturing, Operations and HR.
- Set up business dashboards to track individual, team and corporate goals.
- Access information from any location, using a web browser, enabling fast access to your data on the move from mobile device or tablet.
- Set up trigger based email alerts to keep your management team up to date on live, real time business information.
For further details about Cleardata’s invoice processing or business intelligence dashboard solutions call our team on 0800 046 8081 or get in touch here.