– Receiving the invoice
– Extracting invoice information
– Validating and verifying the invoice information
– Approving payments
– Archiving the invoice for future reference
This function often turns to be the unexpected but unavoidable part of work which is deal with papers and numbers. As follows, it is tedious necessity that any company has to bear with.
In straightforward perspective, it is quite simple with 4 steps procedure:
– Contact/wait new/previous customers
– Sell products/services
– Accomplish orders
– Receive payment
These 4 mentioned steps are varied among businesses and industries. However, this workflow is not standard and not always ideal. This is when the consulting experts come in the pictures and visualize the situations for each specific company.
These consultants are often from outside agency that are specialized or have relevant qualifications in the field. Hence, the identification of problems is carried out much faster and more effective.
Depending on the amount of procurement and vendors/suppliers each enterprise gained every day, invoice management solutions should match the workload and process the cash flow timely.
This also needs an in depth look into how the invoice process taking place: invoiced targets, time to invoice, etc. As consequence, the cash flow will be fluctuated as the time varied from early to late payment, whether the buyers are retailers or suppliers, and so on. Each of the previous points can emerge more problems for the company, hence, the expertise should consider them all and finalize the best solution for managing invoice and estimated risk.
In the environment where cash flow and risk are associated with bad debts, invoice management and profitability should be well maintained and monitored. Having a good fit and fluent invoice managing process is crucial to further
– Evaluating risk
– Managing cash flow
– Enabling growth
Looking for an accounting firm that can compliance with all the requirements could be challenge for some small and newly set-up businesses.
Smart Solution for Business Limited Company or S4B is literally what the name is standing for. It has high qualified and experienced consultants in various industries and sectors that can come up with the optimal and customized solutions for your business.
Invoice management solution is a very personalized process that need to be tailored for each business. Getting a team of high qualified individuals packed with years of practice in Vietnam from S4B is an advantage and it is probably can satisfy all the requests from clients regarding tax and management problems, especially the unbearable task of invoice management.
Through a series of approaching and consultations, S4B will further dig into the clients’ requests and problems by offering services for:
– Newly set-up companies (especially those with foreign based)
– Accounting services
– Tax compliance services
– Statutory filings and non-tax compliance services
Invoice management solutions come under category of accounting services. S4B will guide the client how to build up its own invoice management and integrate it into workflow.