In a context where digitalization has become a necessity, supplier invoice digitization is a crucial step for companies looking to optimize their processes and comply with current regulations. In this article, we offer a comparison of the 7 best invoice digitization software solutions in 2023.

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What is supplier invoice digitization software?

Supplier invoice digitization software is an advanced technological tool that facilitates the transformation of invoices received in paper form or in other unstructured formats, such as images or PDFs, into structured electronic data. This transformation is crucial for several reasons:

1. Easier Data Management

  • Structured Organization: Structured data allows for clearer and more orderly organization of information, making management and analysis easier.
  • Fast Search: Structured data can be indexed to enable fast and efficient searches, saving time and effort.

2. Integration into Enterprise Information Systems

  • Compatibility: Structured electronic data can be easily integrated into various enterprise information systems, such as customer relationship management (CRM) and enterprise resource planning (ERP) systems.
  • Automated Workflows: This also enables the creation of automated workflows, where invoice data can be fed directly into accounting and financial systems, reducing manual steps and potential errors.

3. Optimization of Accounting and Financial Processes

  • Error Reduction: Converting invoices into structured electronic data significantly reduces the chances of human errors that can occur during manual data entry.
  • Financial Analysis: Structured data also facilitates financial analysis, enabling companies to extract valuable insights about their spend and supplier relationships.

4. Compliance and Security

  • Regulatory Compliance: Structured electronic data can be configured to comply with current regulatory standards, ensuring that companies meet legal requirements. For example, in light of the French e-invoicing reform, invoices will need to be in Factur-X format.
  • Data Security: Digitization software also offers advanced security features, ensuring that sensitive data is protected against unauthorized access and data breaches.

In short, supplier invoice digitization software acts as a bridge between traditional invoice management methods and modern technology-based techniques, facilitating a smooth transition to more efficient and secure invoice management.

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What are the essential features of supplier invoice digitization software?

  1. Format Conversion: This software can convert invoices received in various formats (paper, PDF, images) into electronic data that can easily be processed and analyzed.
  2. Process Automation: It automates the data entry process, reducing human errors and saving time.
  3. Integration with Existing Systems: It can integrate with existing management systems (such as ERPs) to facilitate invoice processing and payment.
  4. Legal Compliance: This software helps companies comply with legal requirements regarding invoice retention and management.
  5. Archiving: It enables easy search and retrieval of invoices through advanced search features.
  6. Analysis and Reporting: It offers analysis and reporting tools that help companies track and manage their spend.
  7. Security and Confidentiality: This software ensures data security and confidentiality through various security measures.

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The 7 best supplier invoice digitization software solutions in 2023

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Deltic

Deltic is document digitization software, specialized in the management of customer and supplier invoices as well as HR files. It is particularly suited to the transport, construction (BTP sector in France), consulting-services, trade, and industry sectors.

It automates the management of your company's document flows through artificial intelligence, simplifying document entry and archiving and facilitating validation through an intuitive workflow. It also guarantees optimal security with encrypted documents stored on ultra-secure French servers.

What are Deltic's features?

  • Invoice digitization
  • Archiving
  • Human resources management
  • Workflow

What are Deltic's advantages?

  • Customer service with a dedicated project manager
  • AI technology
  • Integration with the main ERPs on the market
  • Numerous regulatory and security certifications

Pricing

  • €155/month to €295/month

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B2Brouter

B2Brouter is a comprehensive and open platform for digitizing customer and supplier invoices, that goes further by also handling other document types such as purchase orders or quotes. It is particularly suited to B2B companies, offering broad functional coverage and easy connection to your ERPs and other management tools, thereby facilitating collaboration with foreign partners.

More generally, B2Brouter facilitates the automation of document management processes, enabling better traceability and reducing operational costs.

B2Brouter stands out for its ability to facilitate communication and collaboration with business partners, even abroad, through its support for various networks and formats. Its flexibility in terms of offerings, ranging from a free version to paid plans richer in features, makes it possible to find the formula that best matches your needs and budget.

What are B2Brouter's features?

  • Digitization
  • Electronic document management

What are B2Brouter's advantages?

  • International coverage
  • Digitization of a wide range of documents (invoice, purchase order, quote)
  • Integrations with certain management software
  • Compliance with international laws and standards

Pricing

0 to €300/year

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Sellsy

Created in 2009, Sellsy is an all-in-one business management software, ideal for micro-businesses, SMBs, and start-ups. It offers an invoicing module that digitizes all operations related to your invoices, from creation to integration into your accounting. Sellsy should also be compliant with the new requirements of the French e-invoicing reform by positioning itself as a PDP (Partner Dematerialization Platform).

Ultimately, Sellsy is a French all-in-one solution that centralizes all sales-related operations as well as the history of your customer exchanges on a single platform. It stands out for its ease of use, facilitating collaboration between teams and saving valuable time.

What are Sellsy's features?

  • Digitization
  • Sales management
  • Treasury management
  • Invoicing

What are Sellsy's advantages?

  • "All-in-one" solution
  • Ease of use
  • Automation capabilities
  • Responsive customer service

Pricing

  • About €60/month per user

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Axonaut

Axonaut is a comprehensive business management software, specifically designed for French micro-businesses and SMBs. At the heart of its features, it offers an invoice digitization solution, both for customers and suppliers, facilitating the editing, tracking, and storage of documents in a centralized environment. Axonaut is also compliant with French legal standards, integrating the Factur-X format and respecting VAT anti-fraud directives.

Beyond its digitization features, Axonaut presents itself as an all-in-one solution that facilitates the daily management of French entrepreneurs and small and medium-sized businesses by offering a multitude of additional features: CRM, treasury management, quotes and invoicing, project management, etc.

What are Axonaut's features?

  • Digitization
  • Sales management
  • Sales and procurement management
  • Project management
  • Inventory management
  • Human resources…

What are Axonaut's advantages?

  • Simplicity & Ergonomics
  • All-in-one software
  • Responsive customer service
  • Excellent value for money
  • Certifications: NF Logiciel, Anti-fraud

Pricing:

  • €25/month per user

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Yooz

Created in 2010, this vendor offers Cloud-based document digitization solutions, suited to a variety of organizations, including companies, accounting firms, local governments, and associations.

The Yooz solution offers integrated and optimized management of digitization processes, including crucial steps such as scanning, automatic recognition, and recording. It also facilitates accounting allocations, the electronic validation circuit, and the export of entries to ERP systems or accounting software.

What are Yooz's features?

  • Digitization
  • Archiving
  • Pre-accounting
  • P2P process management, purchase orders…
  • Validation workflows

What are Yooz's advantages?

  • Regulatory compliance (Factur-X, PDP, French standards)
  • Customer service
  • OCR technology

Pricing

  • On request

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Pennylane

Pennylane is a tool that centralizes all of a company's financial flows in real time, facilitating collaboration with chartered accountants. It is an all-in-one financial management tool, primarily targeting micro-businesses and SMBs. It offers a comprehensive invoicing module that allows you to automate and centralize the management of your invoices, facilitating the transition to e-invoicing. Pennylane is also aligned with Factur-X standards, ensuring compatibility with administrative requirements.

Pennylane offers a single interface to manage all of your finances, avoiding the proliferation of software.

What are Pennylane's features?

  • Digitization
  • Invoicing
  • Accounting on the French system
  • Sales and procurement management
  • Treasury management

What are Pennylane's advantages?

  • Simplified collaboration with your chartered accountant
  • Regulatory compliance (Factur-X, PDP, French and international standards)
  • No commitment
  • Dedicated customer support

Pricing

€14 to €199/month per user

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Flowie

Created in 2022, Flowie is a unified financial and accounting management solution for companies of all sizes, from micro-businesses to enterprises.

It has developed a supplier and customer invoice digitization solution that relies on advanced technologies. Beyond its digitization features, the solution makes it possible, internally, to synchronize the processes of accounting, finance, and operational teams, and externally, to break down communication barriers with suppliers and customers.

Flowie connects to ERPs, CRMs, banks, TMS, and other no-code tools, to centralize and make company data actionable.

For example, the solution provides finance and accounting teams with an AI invoice validation copilot that relies on all data from the application ecosystem to pre-validate invoices, provide recommendations…

What are Flowie's features?

  • Digitization
  • Internal collaboration (between teams) and external collaboration (with suppliers and customers)
  • Pre-accounting
  • P2P and O2C process management (procurement and sales)
  • Validation and payment workflow
  • Cash flow management (payments, treasury management)
  • Intelligent copilot (pre-validation, financial recommendations…)

What are Flowie's advantages?

  • Ease of use
  • Advanced technologies (high-performance AI and OCR)
  • Mobile friendly
  • Regulatory compliance (Factur-X, PDP, French and international standards)
  • Integration with the main ERPs, CRMs, banks, TMS

Pricing

  • Free for life for micro-businesses (<100 invoices per month)
  • On request for companies with > 100 invoices per month

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What criteria should you define to choose your invoice digitization software?

1. The size of the company

The first step in choosing invoice digitization software is to consider the size of your company. Small businesses may not need the advanced features that some software designed for enterprises can offer. On the other hand, an enterprise might require more robust software, capable of managing a high volume of transactions and integrating additional features such as workflow management and ERP integration.

Small businesses:

  • Ease of use: Software that is easy to use and configure
  • Speed of deployment: A solution whose implementation is simple and fast.
  • Cost-effectiveness: A tool that offers good value for money.

Enterprises:

  • Scalability: Software capable of adapting to rapid growth.
  • Advanced features: Tools that offer complex features for optimal management.
  • Rights management: The ability to finely control user rights and permissions.
  • Security: Prevent fraud and guarantee the highest level of security.

2. Your needs

Identifying your specific needs is a crucial step in choosing invoice digitization software. Here are some points to consider:

  • Automation: The software's ability to automate repetitive tasks.
  • Legal compliance: Compliance with current standards and regulations.
  • Customization: The ability to customize the software according to your specific needs.
  • International dimension: The solution must be able to meet the standards in force in each country where customers and suppliers are located.

3. The tools you already use

It is also important to take into account the tools your company already uses. An invoice digitization software should be able to easily integrate with:

  • Accounting systems: For smooth financial management, ability to directly manage bank accounts and have visibility into treasury.
  • CRM: For better customer relationship management.
  • Document management systems: For optimal document organization.

4. Your budget

Finally, your budget is a determining factor in choosing software. It is essential to find a balance between cost and the features offered. Here are some points to consider:

  • Initial cost: The purchase price of the software.
  • Maintenance costs: Fees associated with software maintenance and updates.
  • Return on investment: Evaluate the potential return on investment that the software can offer.

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Key takeaways

Adopting invoice digitization software is a crucial step in modernizing and optimizing your financial processes. It is essential to select a solution that perfectly matches your requirements and budget. While not limited to a classic digitization system, our solution, Flowie, is equipped with innovative invoice management features using the latest technologies to guarantee operational efficiency, security, and compliance.

It allows invoice management time to be divided by 5 and reduces fraud and invoicing errors by 90%.

Want to know how Flowie can meet your invoice digitization needs? Request a free demo!

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