OXSEED brings transparency into invoice processing

The potential analysis unveils the hidden costs of the financial department.

Bielefeld, March 24, 2011

Many companies think about either complementing their paper-bound processes of their financial departments with modern, digital processes or about completely moving to a fully digital document processing. In most cases the first step is not possible because both the necessary background information and a professional cost-benefit analysis are missing. For this reason, OXSEED offers a comprehensive potential analysis to achieve transparency.

Since October 2009, OXSEED AG offers the service of analyzing a company’s invoice handling process. The potential analysis investigates the actual situation and works out at common understanding of the process. In the next step, both OXSEED and the persons responsible develop a planned ideal scenario for an electronic invoice processing.

In most of the companies, the complete invoice processing chain is paper-bound. This slows down the process due to the long mailing route and high administration effort. The experts of the software manufacturer OXSEED analyze these processes, they measure, for example, the throughput time of an incoming invoice and they make an assessment.

Together with the persons responsible, they calculate the hidden costs, the loss of time and the waste of resources. In a final examination, the potential analysis works out proposals for change. Analysis, costing calculation and possible improvements all flow into a documentation of the results.

“Many companies have realized that the move from a paper-bound invoice processing to an electronic process brings about many advantages and that the efficiency of the staff is significantly improved”, says Marcus Hartmann, member of the board of directors at OXSEED AG.

“If you need a complete picture of your processes and convincing arguments for a change, you can make use of our offer to conduct a complete, cost-free process analysis. If necessary, we recommend the next steps to take and, if requested for, we introduce a concept for electronic invoice processing with OXSEED. We present the concept will a detailed list of costs and the resulting benefits and can also provide the implementation of the concept.