Since January 1, 2010, KPMG Fiduciaire has introduced invoice scanning, which allows to read in the information contained in incoming and outgoing invoices and convert it to secure and easy-to-find data. Now, a few months after the implementation, the new approach has proven to be a success.
Bea Binst, Accounting Manager at KPMG Fiduciaire, explains: “First we process our incoming and outgoing invoices by scanning them to produce high-quality images. Software optimized by KPMG Fiduciaire then allows us to recognize the invoice information automatically.
We specify which information (e.g. name of the supplier, enterprise number, IBAN code, client name, etc.) must be gleaned from the invoice, so that the scanning software can ‘read’ and interpret these variables.
This approach requires our original accounting software to have the appropriate parameters set up and to be correctly linked to the scanning software. This extensive preparatory work is now yielding results, however, since the recognition rate is very high.”
The benefits of invoice scanning are numerous: Quicker invoice processing, less archive space needed, ready access to each invoice at all times, etc.
Bea Binst: “Since we no longer have to enter the data manually, we can cut processing time considerably, making invoice processing quicker and more efficient.
By setting the parameters of the various software programs correctly, the need for manual checking is greatly reduced. The documents can be called up at a moment’s notice, allowing for easy consultation when drawing up interim and/or annual closing.When preparing the annual accounts, we can import not only the balance sheets but also the ledger with the images, fully in line with our concept of ‘paperless files’.
The full effect of the time saved will therefore only become apparent in the spring of 2011, when the closing of the accounts takes place.”
KPMG Fiduciaire strongly believes in the commercial potential of these investments, and is convinced to be able to offer added value compared to traditional local offices.