Invoice Tracking & Payment Processing System
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The document presents the Invoice Tracking System v2.0, highlighting its advantages over the current procedure, which suffers from inefficiencies such as poor status updates and lack of data redundancy. The proposed system features a centralized database with scanned invoices, email notifications, and analytical reporting to improve invoice management. It aims to streamline processes and enhance operational efficiency by addressing existing drawbacks.
Invoice Tracking & Payment Processing System
- 1. Innovation >> Experience >> Value >> Results Invoice Tracking System V 2.0 Presented by: Usman Hameed
- 2. Invoice Management – Current Procedure 2 Invoice Tracking System v2.0
- 3. Drawbacks – Current Procedure 4 Invoice Tracking System v2.0
- 4. Drawbacks – Usual Procedure Invoice status is not efficiently updated No proof of document in case of document lost / misplaced Data stored in user PC and excel sheet is replicated many times No routine Backup Strategy No Analytical reporting 5 Invoice Tracking System v2.0
- 5. Solution- Invoice Tracking System 6 Invoice Tracking System v2.0
- 6. Invoice Tracking System Central repository of Complete Invoicing Scanned copy of invoice Email Intimation Web application for easy access anywhere Secured Login Detailed Reports based on (Vendor/Invoice/Periodic) Analytical Reports Centralized Database Submit Remarks Advance Searching Backlog Data Migration and so on 7 Invoice Tracking System v2.0
- 7. Proposed System - IMS Verified invoice Treasury Scan & Index User Vendor 8 Invoice Tracking System v2.0
- 8. Attributes – ITS Invoice Registration Date and Time Stamp Vendor Name PO/SO/WO number Description Currency Amount Invoice Status with Date & Time Stamp Received Sent for user verification Received verified invoice Sent for cheque processing Cheque received Cheque dispatched Scanning Original Invoice Verified Invoice Cheque Invoice Tracking System v2.0
- 14. Infrastructure Invoice Tracking System ITS Scan Client ITS Web Clients 15 Invoice Tracking System v2.0
- 15. ”Simplicity can only be achieved by those who understand complexity, competitive advantage can be achieved by those who solve complex problems with simplicity. - AL-Rehman Technologies Thank you for your time 16 Invoice Tracking System v2.0