A controller’s primary job responsibilities can be boiled down to three C’s:
- Cash management
- Control over operations
Yet much of the critical information that controllers need to fulfill these responsibilities remains trapped on paper-based invoices, or lately, as e-mail PDF attachments.
The process to receive, review, research, route, and access paper or PDF invoices creates big issues for controllers:
- Errors and the time to identify, research, and correct
- Inefficient review, match, or approval processes
- Inability to proactively manage vendor discounts
- Duplicate payments or misplaced or lost invoices
- Lag time from exceptions, inquiries, and manual work
- Poor compliance and audit ability
It is for these reasons that more controllers are embracing electronic invoicing.
Electronic invoicing solutions such as NexusPayables convert paper and PDF documents into usable digital information for:
- Visibility into cash flow, spend and the status of invoice processing
- Control and tracking of invoices and financial information
- Reporting and analytics for strategic decision-making
All of this helps a controller fulfill their three C’s.
Want to learn how Nexus can help your controller improve cash management, control over operations, and compliance? Contact us to schedule a demo.