ORION Invoice Flow opens up a new dimension of accounts payable automation15. October 2018
15th October 2018, Brno – A new technological service for automating receipt of invoices and facilitating processing of documents as well as their trustworthy archiving after being posted in enterprise information system – that’s what a novelty ORION Invoice Flow, introduced by CCV Information systems, represents. The service is especially exceptional because it automates processing of invoices in different formats without requirements for operation staff and is run in a network of secure data centres, therefore it does not burden customer’s IT infrastructure.
Digitization of accounting is a strongly emerging trend. Upcoming changes will affect the very nature of the accounting profession. At the European level, both formats and legislation are being harmonized to enhance the implementation of electronic invoicing into the accounting practice. More and more original documents arrive to companies in electronic form, which makes the disunity from paper formats even more problematic.
One solution for the whole process of invoice processing
ORION Invoice Flow unifies all necessary tools for automation of receipt and processing of invoices regardless of whether the invoice arrives to the company in paper in an envelope, by fax, as a PDF attachment of an e-mail or in a structured format (EDI, XML, IDOC, ISDOC, etc.). Deployments at customers confirm that they save around 80% of time when processing invoices.
„The time that we needed to process invoices has been shortened multiple times. With the help of ORION Invoice Flow, we have ensured receipt of invoices all the way into the economic system Helios and have improved the level of cooperation with an external accounting agency,“ evaluates the service implementation Jiří Šilhánek, Financial Manager at Fri-Service Czech (formerly Fri-Jado).
The service not only brings automated invoice creation, recording and check, but thanks to electronic workflow, also shortens invoice approval from days to minutes. Without manual rewriting and errors, it then automatically loads them into enterprise system and at the same time, archives them during the statutory period.
Easier work without papers until reimbursement
„For many of our customers, 100% of all invoices are processed automatically in electronic format and up to 90% of all invoices are processed by an automatic process of clearance against order without human intervention. The operation staff in 10% of invoices addresses only discrepancies,“ explains David Reichel, Director of CCV eBusiness division.
ORION Invoice Flow is connected to other smart services. One of them is Roger Payment with the possibility of immediate financing of invoices for äppreciation of the working capital tied in received invoices.
The consolidation centre ORION transfers millions of electronic documents to thousands of counterparties in structured format every month (EDI – Electronic Data Interchange). Security of work with documents is documented by certification ISO 27001 from the certification authority TÜV SÜD Czech, which CCV Information systems has acquired as the first domestic provider of electronic document interchange.