Most suppliers of products and services to marketing communications organisations provide their invoices in hard copy format. Whilst there exists many third party services to ingest invoices from source documents, there is only one that is focused on the marcoms vertical: Njest.
The majority of marcoms organisations generally enter the details of the invoices manually into their back-end finance system.
Njest automates that process delivering efficiencies and virtually eliminating errors and omissions.
Supplier invoices, when received by the marcoms entity, are parsed by the Njest AI engine performing the “Discovery” process. They are matched to the entity’s masterfiles and the resultant financial transactions are created in the appropriate format for that entity’s finance system.
Njest support does all the heavy lifting in getting you started and in every day usage, making it so easy to get going and to operate over time.
The Benefits to the marcoms organisation are efficiency in the registration of supplier invoices, virtual elimination of queries, elimination of potential rejections and greater adherence to prompt settlement discounts.
Generally there is no manual intervention on the part of the marcoms finance staff. The invoices are imported into Njest either by way of email receipt or by way of a user friendly bulk upload interface.
Automatic ingestion smooths the peaks and troughs generally caused by “batching” the data entry workload involved in validating and entering supplier invoice transactions manually.
Recent analysis of several clients manual workload reveals those peaks & troughs as illustrated in this graph:
The Njest efficiencies deliver a very real reduction in costs resulting in the system paying for itself and still delivering savings to the organisation.
The Benefits to the supplier are virtual elimination of queries, elimination of potential rejections, greater adherence to prompt settlement discounts and expedited settlement of the account.
