All of my previous invoice management was done manually, which took a lot of time. My invoicing process has become simple since I started using AskDataEntry’s invoice processing service, and I also save a ton of time. I am really grateful to them.
Client Profile
The client operates a full-fledged eCommerce exchange between hospitals and vendors, connecting with thousands of daily active users, 8000+ registered vendors, and 2000+ hospital/clinic facilities. The client primarily targets the US healthcare market. The platform exchanges every piece of data related to purchases and invoices, which reduces invoice processing costs by up to 80%.
Requirements of the Client
Due to the client’s sizable clientele, handling and managing invoice data requires a tremendous amount of time, labor, and resources. The client required a group that is committed to working under time constraints in order to overcome these difficulties, digitize the preloaded invoices in image or PDF format, and maintain an accounts payable invoice. The entire process of processing invoice data was intended to be carried out using custom software, and all suppliers and clients had to help load the invoices. In order to accurately process and enter these invoices into the database, it was necessary to do so. In addition, regardless of the numbers, each task had to be completed in a window of 24 hours.
- Obtain image and PDF copies of the preloaded invoices by digitizing them.
- In order to avoid any sort of processing delays for invoices, accounts payable should be configured to allow for seamless feed into ERP.
- Employ and assign a team that can complete tasks in a short amount of time.
- No matter how much data there is, keep a 24-hour window open for processing it all.
- Using specialized software, one can process data in an efficient and accurate manner.
- To increase productivity, divide up the work.
Solution from AskDataEntry
We’ve assembled and hired a group of experts in invoice data entry who conduct an in-depth task analysis and develop a work plan taking the client’s needs and specifications into consideration. In accordance with this work plan, the team decided to digitize invoices in desired formats using integrated software accessible remotely. In order for the client to benefit from its exceptional advantages, we also worked on the accounts payable invoice. These advantages include –
- Obtain complete knowledge of the exposure on a daily basis.
- Avoid having to rekey paper invoices.
- Avoid any sort of processing delays for invoices
- Whatever the format, send the entire invoice’s contents to the clients electronically.
- Deliver vital business information in an efficient manner, whether it comes from a file upload, email, fax, paper mail, PDF, or OCR.
Additionally, extra care was taken to protect the confidentiality and security of the client’s ERP system by logging in through a dedicated VPN tunnel. In order to meet their changeover and SLA requirements as an integrated part of the client’s workflow, the team set strict deadlines, worked around the clock, and defined tight deadlines.
In addition to this, we always keep the client informed of the status of the work in a straightforward manner. Client suggestions are constantly taken into consideration and implemented to the fullest extent.
Challenges Faced by Us
Every task involves a certain level of difficulty, and this is what makes it interesting. Speaking specifically of the healthcare sector, it has very particular and frequently unique business structures that present a number of difficulties, such as lengthy Medicare and Medicaid reimbursement processes, HIPAA compliance, and ICD-10 compliance. The following are other challenging challenges connected to processing invoice data, some of which our team also encountered –
- Considering that there are numerous customer instructions, we must be proactive and update constantly.
- All shipments had to be processed within a specific amount of time; failing to do so could result in issues for customers, so the team had to keep a close eye on the clock.
- All of our focus and dedication was required to maintain the required level of accuracy, which was 100%.
- Since invoices involve countless calculations, even a small mistake in the decimal place could lead to serious issues, all the data had to be uploaded precisely and without room for error.
Due to our diligence and extensive knowledge of healthcare invoice data entry, we successfully overcame the challenges and provided the client with a 100% accurate result.
Conclusion
This project demonstrates how to enhance data entry when processing thousands of invoices iteratively. The client needed fast turnaround times, cost-effectiveness, and high accuracy in this case so that invoices could be used right away in specialized accounts receivable transactions like asset-based lending, invoice financing, and factoring. The client was pleased with the outcomes delivered by AskDataEntry, which included fast delivery, cost savings of 80% when compared to other outsourcing providers, and the capacity to scale up quickly to a larger data entry team as required by the client.
About AskDataEntry
Projects for invoice data entry can be handled in any language thanks to AskDataEntry’s multilingual staff, which speaks various languages fluently. Invoices that are typewritten, printed, or handwritten can be handled in paper or electronic format. Without hiring additional personnel, our team of more than 150 data management specialists assists clients in reducing or eliminating invoice backlogs.
We are the ideal partner for your outsourcing needs! To learn more about our specialized and affordable invoice processing and data management services, get in touch with the AskDataEntry team right away.
My small business didn’t have a system for keeping track of transactions. When I first started using AskDataEntry, I was astounded by what it had to offer. I found their support staff to be incredibly helpful, and I have no complaints at all. You won’t regret using AskDataEntry, which I wholeheartedly recommend to everyone.
