5 Reasons to use BAZ as Invoice Automation Software

Processes of an invoice management system have always been tedious and manually controlled. But the importance of an account payable department's role in organizations cannot be ignored. Whether it is invoice generation, cost-per-invoice processing, payments, or any other task, AP department has always performed. AP departments work to their full potential, but it is manual processes to blame for sabotaging their status. It is no more a secret between organizations that majority of account payable departments are error-prone. So, is there a reliable solution for organizations to make invoice processing error free?

Yes, the only solution organizations can rely on is investing their valuable money in invoice management software. Variety of invoice automation software is available on the internet for a small business. But an overlooked invoice generator which could help enterprises to strengthen their account payable department is BAZ. BAZ is an Empronc solutions private limited corporate product. It was built to serve multiple purposes. As account payable automation software, BAZ assists account payable departments in invoice billing. Automated invoice processing is the only solution a corporation should concentrate, eventually. Let’s find some traits of BAZ which proves its superiority over other invoice makers.

Invoice Challenges tamed by BAZ

You must have understood that manual processing of invoices is mumbo-jumbo. No force on earth could save invoice processing except invoice automation. Here is the list of challenges overcome by BAZ

1. Database Errors
2. Multiple payment channels
3. Payment Frauds
4. Data management
5. Cash flow

Database Errors

While processing invoices, data is entered into the database manually. Databases use a variety of inbuilt keys to avoid duplication still there is a chance of duplicated invoices existence. Moreover, the entered data may not be reliable and could forge uncertainty in accuracy. Non-digitized ways of storing data in databases are non-retrieval. At this point, invoice departments should take desperate measures.

An invoice management system like BAZ saves copies of printed invoices in digital format. This feature gives invoice processing a new edge. Duplicated invoices in databases are known when digital copies are verified. These digital copies are generated by an invoice generator like BAZ. BAZ's Image processing feature also helps to avoid database errors even if the stakes are high.

Multiple payment channels

If your organization is successful, it is because its suppliers are ecstatic. But is there a correlation between a supplier’s happiness and payment channels? Yes, these payment channels are the reason behind successful trading. When dealing with suppliers, organizations should support payment channels which benefit their vendors. Manual payment systems have a lot of vulnerabilities which cannot be resolved. The difference in payment channels or systems is one such manual processing's vulnerability.

Instead, invoice management software like BAZ accepts a variety of payment channels. It could be cheques, mobile banking, mobile wallet, and bank transfers. But the additional feature of automated invoice processing is its flexibility to manage these different payment channels of a single supplier. Accounts payable departments can implement this centralized payment interface to process transactions.

Payment Frauds

Where do the vulnerabilities of manual processing lead us? These errors in payment procedures have got an enterprise's status and relationship with its suppliers in jeopardy. In a manual payment procedure, receipts are used to justify a payment's authenticity. Replicating or counterfeiting payments receipts have become a piece of cake. Counterfeiting invoice receipts have made invoice automation software a necessity.

An invoice management system like BAZ gets the word 'Manual' out of account payable departments. Automated invoice processing helps organizations authenticate every payment and avoid disputes with their suppliers.

Data management

Technology has changed drastically in recent years, and its impact is visible in every aspect of the industry. The changes in data management have gone beyond payment history. Today, managers have to perform activities like connect to different banks, streamline processes for vendors, and track the different payment channels. Nobody would have predicted these tasks in early days of traditional payment systems.

But, now, Invoice management system has changed the perception. Account payable managers have availed benefits of invoice management software to perform invoice tasks. Similarly, BAZ can help organizations to generate accurate invoice reports rapidly.

Cash flow

A disrupted cash flow within an organization can affect its success rate. When we talk about cash flow, it is not just limited to accounts payable department anymore. Instead, it also depends on other departments. A fast and reliable invoice processing notifies money's current position in cash flow. Therefore, enterprises need invoice automation software.

BAZ is a reliable invoice automation software. As invoice management software, BAZ ensures no interruption in cash flow. Accurate real-time reports help payable departments to improve accounting. This feature also reduces the occurrence of money loss while remittance. Improvised cash flows also save money.