Electronic document workflow for the accountancy outsourcing

Electronic document workflow in a company has a significant meaning for the implementation of the most important business processes. It speeds up and seals the activities connected with documentation processing, provides transparency of conducted actions, lowers the operating costs, as well as allows eliminating the risk of human errors, and ensures the highest level of data safety.

In particular, the digitization of document workflow is applied in companies and capital groups that feature high inspection requirements. Due to the convenient access to information, implementation of EDW may also be advantageous for multi-entity companies and enterprises which, due to being geographically dispersed (having many offices in various locations), experience problems with the standard, traditional document workflow.

Circulation of documents – the electronic workflow system

The Flexi Workflow system, developed by the MDDP Outsourcing team of experts, allows efficient document management at your company. The solution is dedicated for you both as a part of comprehensive accounting services as well as a tool that you can use for your own accounting department.

In order to address your expectations, thanks to embedded mechanisms, the system provides intuitive, multi-dimensional assignment of documents, division into cost centers, designs, etc. Thanks to the convenient functionality, such a classification can be done by any employee that is substantively responsible for the approval of documents in the system.

The electronic workflow of documents Flexi Workflow offered by accounting office MDDP Outsourcing provides you, among others, with:

• complete digitization of printed documents,
• qualification of documents, i.a. in terms of VAT and CIT,
• flexible creation of paths for document circulation within the company,
• complete determination of accounting assignments,
• automatic transfer of documents, information or tasks according to the rules applied by the organization,
• ongoing tracking of the status of each document (invoice, input of a transfer, payment),
• integration with financial and accounting systems,
• export of system data to a relevant file format.
  

Functions of the EDW system

Scanning module

The system has been prepared to provide the user with a convenient way of scanning whole bundles of purchase documents received from contractors via traditional ways and, at the same time, creating individual records for every document in a completely automatic manner (scan and specification), subject to an individual authorization path.

• the time-consuming invoice registration process is bypassed
• possibility of scanning invoices in bundles

E-invoices module

The system can be integrated with an e-mail inbox intended for receipt of electronic invoices sent by contractors. PDF e-invoices will be automatically loaded into the system.

What is worth mentioning, importing of an invoice (after proper settings are made by the administrator) takes place automatically in the system for the electronic circulation of documents, without the user’s interference.

• automation of importing of the received invoice into the system – a time-saving feature
• faster invoice acceptance process – possibility of faster VAT deduction,
• digital record of received invoices – without printed protocols,
• no printed invoices – protection of the environment.

Purchase invoices module

The electronic module of document circulation allows comprehensive implementation of rules and procedures for the circulation of document approvals that applies in every company – in an electronic form. When invoices reach the final recipient, they are sent to the accounting department – they are booked and transferred to the accounting system.

• creation of paths for document circulation according to the demands of the company,
• establishment of many levels of acceptance,
• possibility of defining conditions that govern transition of documents from one stage to the next one.

Payments module

The Flexi Workflow system offers a completely separate circulation of payments that do not influence the process of substantive approval and booking of accounting documents. Regardless of the accounting circulation of the invoice (which results in cost records), it is possible to set a parallel circulation of payments in the system, so that one process will not withhold the other one.

• option to set up the circulation of payments as parallel to the circulation of documents,
• possibility of defining paths and stages for the payment acceptance process,
• ongoing access to the status of payment at its every stage.

Purchase orders module

Flexi Workflow covers a comprehensive approach towards the purchase process at a company: the creation of a purchase order, its verification and arrangement of the purchase order with an invoice, along with a parallel and independent circulation of payments – all those actions in one system, until the payment is made.

• creation of electronic orders in the system and of approval paths specific for those orders before the invoice is delivered to the supplier,
• notification on purchase demands in one place, which provides wide possibilities of their further analysis and forecasts as well as possibilities to control expenses before they are generated,
• sending accepted orders to suppliers,
• automatic checking of the compliance of invoices with the order (after receipt of the delivery/service) and information on the result provided to relevant persons,
• generation of periodic or budget orders – after acceptation of the budget, all invoices that fall within the budget can be approved (regardless their number),
• verification and control over the percentage or amount-based deviation of the invoice value from the value of the issued order,
• efficient document management – tracking by status, in order to allow locating the document at any time.

Bookkeping module

When we were creating the system of electronic circulation of documents, we paid attention to its compliance with the accounting rules, automation of processes, and the maximum simplicity of such processes. For example, in the case of recurring transactions of the same nature, we created so-called transaction classes and many booking patterns for recurring invoices, which helps optimize the organization of work by distributing the tasks among employees with various levels of knowledge.

• an accessible list of over 40 general transaction classes,
• integration with financial and accounting systems,
• possibility of importing classifiers that enhance the cost analysis.

E-archive module

Flexi Workflow offers the function of the so-called e-archive, which is a separate module for archiving and classification of documents in the division into categories. It can be used completely independently from other modules of the system. However, it performs perfectly in conjunction with the invoice processing module.

• storage of documents in their electronic form in one place, in convenient formats (i.a. PDF, DOC, XLS),
• easy access to the whole documentation through a web browser, without the need of having to browse through physical binders all the time,
• shorter time needed for finding an individual document, thanks to the advanced filtering and sorting function in the system,
• combining contracts with invoices and vice versa – the possibility of attaching a contract as an annex at the invoice level – which gives a set of information required during the invoice approval process,
• storage of documents without the need of saving them on the hard drive and, consequently, the possibility of generating a PDF file or printing out a copy of documentation, if needed,
• flexible and efficient rights management with regard to access to the attached documents.
  

Electronic document workflow vs traditional (paper) workflow (comparison)

If you have any questions or would like to learn more about our offer, we highly encourage you to contact us or one of our stationary accounting offices: in Warsaw (Mazovian District) or in Katowice (Silesian District).