Managing bills and invoices is an integral part of any business, but the traditional manual processes can be time-consuming and prone to errors. According to a report by the Institute of Finance and Management, manual invoice processing can take up to 45 days. Automation can reduce this to five (5) days–a whopping 89% decrease in processing time.
In today's fast-paced business environment, efficiency and accuracy are paramount. This is where Spenmo, an expense management software, comes into play. In this article, we'll explore the various features of Spenmo that can help automate bill payment and creation.
Feature 1: Drag and Drop Invoices–Effortless Invoice Management
Spenmo introduces the ability to drag and drop invoices directly into the system. This feature utilises smart scanning technology, reducing the effort required for manual data entry and ensuring accurate data input. Finance teams can now say goodbye to the tedious task of manually entering data from invoices. Spenmo takes care of the rest with a simple drag-and-drop, streamlining the invoice management process.
Imagine a scenario where you receive a batch of invoices. Instead of spending hours manually inputting data, you can effortlessly upload them to Spenmo, allowing the smart scanning technology to take over. This saves time and minimises the risk of human error, providing a reliable solution for your invoice management needs.
Feature 2: Bulk Upload–Streamlining Finance Operations
For finance teams handling large invoices, Spenmo offers the Bulk Upload feature. This functionality allows finance professionals to upload an Excel file containing multiple invoices and process them all on one screen. The Bulk Upload feature is a game-changer for organisations dealing with numerous invoices regularly.
Finance departments can now seamlessly upload, pay, and reconcile all their invoices. This improves efficiency and reduces the likelihood of errors associated with manual data entry. With Spenmo, finance teams can achieve a new level of operational efficiency, ensuring that invoice management becomes a streamlined and stress-free process.
Feature 3: Import Bills from Xero–Seamless Integration
For businesses using Xero for their accounting needs, Spenmo offers seamless integration, allowing Xero users to streamline their expense management and achieve spending control without adjusting their existing processes. The process is simple: create bills in Xero and push this information to Spenmo for payment processing. Once the payment is made, Spenmo automatically updates Xero in real time, facilitating quick and efficient reconciliation. Accountants can now achieve spending control with less time and effort in accounting.
This integration is convenient and works seamlessly with partially paid invoices. Businesses can enjoy the benefits of two powerful tools working together harmoniously, providing a comprehensive solution for their billing and accounting requirements.
Speaking of tools working harmoniously, we have exciting news for Netsuite users as Spenmo brews a similar integration with the platform, promising an enhanced yet simplified bill creation and payments experience to more finance teams.
Upgrade Your Workflow: Embrace the Ease of Bill Payments with Spenmo
Look no further, Spenmo emerges as a powerful tool for businesses looking to streamline their bill payment processes without having to adjust your finance team’s existing workflow. The drag-and-drop invoices feature, coupled with smart scanning technology, ensures accuracy and efficiency in data input. The Bulk Upload feature simplifies operations for finance teams dealing with multiple invoices, while the seamless integration with Xero enhances the overall accounting experience, allowing finance teams to achieve spending control in less time and effort.
Ready to transform your bill payment processes with automation? Talk to us to learn more about how Spenmo can make a difference in your expense management. Schedule a consultation with our experts and experience the efficiency and convenience of automated payments with Spenmo. Your journey towards streamlined expense management starts here.
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