Online invoice approval system

In this leaflet, we offer on the internet-based invoice approval and registration system developed by the RSM Hungary Plc. The system primarily serves the registration and the payment approval of the (supplier) invoices received by the enterprise.

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Miklós Héhn, Partner, Head of accounting

Miklós Héhn

Partner, Deputy CEO

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Why do we recommend the use of the online invoice approval system to our clients?

The approval and payment of supplier invoices are  tasks from the very first day of operation of a start-up company – although most companies do not have an established administrative process at this point. The typically applied manual processing however comes with a large number of inherent error possibilities such as invoices lost and found late, delays of payment, duplicate transfers, documents not submitted to accounting, etc.

The purpose of our online invoice approval system is to offer solutions for the above mentioned deficiencies while keeping the simplicity and transparency of administrative processes.

Who  is our offer for?

We recommend our online invoice approval system, above all, to companies with any of the following characteristics of operation:

  1. The company does not have a finance department of its own; invoices are registered and prepared for accounting by members of the administrative staff.
  2. The approval of orders and invoices are not only the responsibilities of financial experts; operative managers are involved also.
  3. The persons involved in the invoice approval process are not in the central office of the company at all times.
  4. The company does not have an integrated company management system which covers invoice approval processes also.

Which are the main functions and characteristics of our online invoice approval system?

We must point out that the invoice approval interface we offer typically does not come “in a box” but it can be put in operation immediately. The functions listed below may be tailored entirely to the needs of our clients and may be extended or narrowed down freely:

  1. The invoice approval system is web-based, which means that it is easily accessible from anywhere in the world.
  2. The main data of the invoices to be approved as well as their scanned copies can be loaded into the system in the manner of a database.
  3. The approval of the invoices can be connected to the approval of the orders, contracts and certificates of performance forming the basis of invoicing.
  4. The system is suitable for managing multistep approval processes and various levels of approval powers. Batch approval of invoices is supported also.
  5. The system is capable of sending automatic e-mail messages and can also be connected to other software.
  6. Access to the system is password-protected. User activities, approvers and the times of approval are recorded and are easily retraceable.
  7. A supplier partner list can be created from the data of suppliers. Suppliers can be selected from a roll-down menu during the recording of the data.
  8. The data loaded into the system may be exported in excel format or as compressed files in the case of the scanned copies of the invoices, which allows the preparation of transfer lists.
  9. Through the extension of the invoice data loaded into the database, the system may be used besides the approval of invoices for generating simple reports. 
  10. The system may also perform invoice registration and archiving functions.

What direct advantages and savings does the use of our invoice approval system offer for your company?

  1. The use of our invoice registration and approval system improves the efficiency of the work of your colleagues involved in the approval process and the transparency of invoice registration.
  2. Travel and mailing costs can be saved as the online interface is accessible anywhere.
  3. The financial consequences of errors of the invoice approval processes and the consequences of documentation errors, such as erroneous or duplicate transfers can be avoided.
  4. The invoice approval system we offer is easy to use. It does not contain extras in addition to the task to be performed. It can be used jointly with other software and it is a much more cost effective solution than the acquisition of an integrated company management system. 

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