Invoice Management

Procure Wizard will check every line on every invoice

Increased productivity

Procure Wizard will work with your suppliers to facilitate the transition from paper invoices to electronic invoices. Our system is ideally suited to work for both small local suppliers and large national suppliers.

Increased productivity
95% pass-through rate

95% pass-through rate

By introducing our electronic P-2-P solution, we can help you achieve a 95% reduction in invoice processing time.
All suppliers, both small local suppliers and large national suppliers, can use Procure Wizard to submit an electronic invoice. 95% of these invoices automatically pass for payment once checked against contract price, purchase order and delivery to seamlessly pass through to your accounts system.
Approximately 5% of all supplier invoices will fail our robust check, resulting in a credit request. These will be processed in line with our in-built credit resolution software.

Credit Resolution

When an invoice is received, every line of the invoice is cross referenced both against the goods received and the agreed contract price. Discrepancies are captured and credits can be easily raised via the Procure Wizard credit resolution functionality. Approximately 5% of all invoices will fail the cross check and could result in a credit being requested. Disputed invoices and credits are both managed by our credit resolution functionality.

Typically 5% of invoices fail the line item check resulting in significant value of credits being discovered and claimed.

Every invoice is validated against the originating purchase order or automatically sent for a reverse approval by the designated approval route.

EDI Invoicing

We will create an electronic feed of your live invoices directly from your supplier back to Procure Wizard. The good news is that Procure Wizard has established robust EDI links with almost all of the major national suppliers to the hospitality industry in the UK. Our solution performs a robust check of the data ensuring that every invoice is validated against the originating purchase order or automatically sent for a reverse approval by the designated approval route. Procure Wizard’s EDI solution will also work in conjunction with our credit resolution process, ensuring consistency and transparency of all data.

PDF Invoicing

It is becoming the norm for suppliers’ accountancy packages to automatically email their customers the PDF invoice, particularly suppliers who produce a large number of invoices but do not have the ability to automate an EDI process. Procure Wizard has developed ground breaking technology that enables us to open and convert this PDF invoice data into a format that can automatically be read. This process does not use OCR or other outdated forms of document reading, ensuring that our pass-through rate is 100% accurate.

CSV Invoicing

CSV Invoicing

Suppliers with complicated ERP systems often find it easier to produce a line-item CSV file. This file can be automatically uploaded into Procure Wizard, creating real-time invoice data that can be matched to an originating purchase order. This option ensures that even the most un-savvy technophobes are able to automate the transfer of invoices from their accounts package to Procure Wizard in a seamless and robust manor.

Portal Invoicing

Not every supplier is able to provide EDI, PDF or CSV invoices. Thankfully Procure Wizard does not exclude those suppliers from the electronic invoicing that our customers seek. Our interactive, easy-to-use and simple to navigate, suppliers’ portal, enables even the smallest of local suppliers to quickly and efficiently upload their invoices into Procure Wizard. They can often achieve this with no more than a couple of clicks, simply by updating the original purchase order.

Our easy-to-use suppliers’ portal enables even the smallest of local suppliers to quickly upload their invoices into Procure Wizard.

Invoice Scanning

We understand that it would be impossible to achieve 100% electronic invoicing directly from suppliers, as it is unlikely that your utility provider, rates, insurance and other similar organisations would upload electronic data. It is for this reason we offer a fully rounded solution that enables our customers to scan these invoices directly into our document management system where they can be matched, approved and nominal coded, achieving not only a completely paperless environment, but the ability to manage 100% of your invoice data electronically!

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Electronic Invoicing

Procure Wizard are fully compliant with HMRC VAT notice 700/63:  electronic invoicing in the UK.

In Ireland we are compliant with the existing Irish Tax & Customs electronic invoicing rules (section 66(2) of the VATCA 2010 and Regulation 21 of the 2010 VAT Regulations).

 

 

Peace of mind that we are fully compliant

Procure Wizard

Easy to use

  • Procure Wizard will check every line on every invoice and highlight discrepancies
  • Typically 5% of all invoices prove to have an overcharge and will be captured by Procure Wizard
  • Raise a credit request at the click of a button
  • Only pass invoice for payment once outstanding credit is processed
  • Portal invoicing allows a supplier to log in to Procure Wizard and flip a PO into an electronic invoice
  • CSV invoicing allows the suppliers to upload a batch of invoices on a single CSV file through our supplier portal. PDF invoices submitted by e-mail can be converted to an EDI invoice
  • EDI invoicing for suppliers who are capable of sending an electronic file containing a batch of invoices - typically only multi-national suppliers support this capability

Key benefits for your business

Malcolm Atherton, Hospitality Group Manager

We were taken aback at just how painless, seamless and simple the whole process was.

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