Transform your Invoice Management Process with EnKash

A process that enables businesses to track and pay vendor invoices is invoice management. It involves receiving an invoice from the vendor, verifying it, paying the amount to the vendor, and recording the same for future reconciliation.

Top reasons to automate invoice processing:

• No manual entry: Automated invoice management eliminates the need for manual entry into accounting systems

• Easy verification: Accounting software verifies vendors and approves and rejects them based on the information provided. This helps in removing fraudulent cases

• Access to information: The data on invoices can be easily viewed anytime and anywhere

• Customized workflows: Businesses can define and customize their workflows as per their needs

• Enhanced visibility: The visibility of invoice management is improved with real-time data availability for decision-making

• Better vendor relationship management: The automation of invoices gives payment notifications and alerts ensuring vendor payments are done on time; improving relationships

The quicker processing of invoices with the automation software enables quicker payments. Businesses can make immediate payments for the invoices uploaded on the automation software. In fact, with EnKash bulk payments can also be made with a single click. These quick payments can also help avail early payment discounts enabling savings for the business.

You can upload invoices on EnKash with a few simple steps. Add the necessary details about the vendor, post KYC, upload the invoice, and make the payment via the invoicing software.

When an invoice is received, it is uploaded and scanned via the automation software, and the data is extracted in the accounting system in the desired format automatically.

As soon as the data is recorded into the digital database, the invoice is converted into a text-searchable document that is mapped by the system so that the data entered into the system can be actively tracked within the ERP system.

The data stored includes the vendor’s name, purchase amount, details of the goods/services availed, etc., and provides a detailed account of the invoice, which can be shared with the concerned parties for review and payment approval.

Vendor post-KYC is added and payment is done if data is validated.

Automated reminders or notifications can help businesses make payments to vendors before the due date. Some of the vendors provide trade discounts on early payments which can help businesses to save their costs and add to their cash flow.

Businesses can improve their cash flow by offering multiple payment options as this enables faster and efficient payment without any delay unlike in the case of traditional payment options like cheques. This also helps establish trust in the business.

An electronic invoice system digitally manages invoice creation, delivery, and processing between businesses and vendors. It helps reduce manual errors, speeds up approvals, and ensures compliance with regulations like GST. With EnKash’s electronic invoice system, you can bulk upload invoices, automate validations and approvals, and streamline payments—saving time and improving efficiency.