Invoice Management Solution
C1's Invoice Management solution simplifies billing, payments, and record-keeping with automated invoice tracking and management.
C1's Invoice Management solution simplifies billing, payments, and record-keeping with automated invoice tracking and management.
Managing invoices effectively is crucial for any business, but can be complex and time-consuming. Dealing with various vendors, payment terms, and currencies can make tracking invoices difficult. At C1 Global, we understand these challenges. That's why we created an Invoice Management Software to simplify your procurement process.
Invoice processing with Robotic Process Automation Flow:
The supplier issues an invoice based on the Goods Received Notes (GRN) obtained after the delivery is completed. This invoice contains details such as the invoice number, date, payment terms, item descriptions, applicable taxes, and the total amount. It is then submitted to the buyer's accounts payable department via our system.
The accounts payable (AP) team reviews the invoice for accuracy by matching it with the purchase order (PO), verifying the receipt of goods or services, and ensuring correct pricing and tax calculations. If the invoice is valid, it is approved for payment processing.
Once approved, the invoice is scheduled for payment according to the agreed payment terms. Payment processing can be carried out through our system or integrated with a third-party financial system for execution.
The details of the paid invoice are either retrieved in the case of integration or recorded in our system if processed internally for accounting and tax purposes. The payment transaction and history are maintained to ensure audit and compliance requirements are met.
Invoice data is analyzed to identify trends, manage cash flow, and assess vendor performance. The generated reports support budgeting, financial forecasting, and enhancements to the procurement process.
Monitor invoice status, approvals, and payments instantly with dashboards and notifications, ensuring transparency, reducing delays, and preventing missed deadlines.
Streamline invoice approvals with customizable workflows, role-based access control, and automated reminders to ensure smooth processing and accountability.
Enhance accuracy and compliance with three-way matching of invoices, purchase orders, and goods received notes while preventing duplicate invoices through automated validation.
Enable secure multi-user access with defined roles, encrypted data protection, compliance with security standards, and reliable backup and recovery mechanisms.
Connect effortlessly with ERP, accounting, and procurement systems, leverage API support for third-party financial tools, and choose between cloud-based or on-premise deployment.
Increased accuracy and real-time visibility
Automated Payment Processing
Enhanced Compliance
Integration with Procurement & ERP Systems