In April 2023
Invoice Auditing Team
Manual Internal Transaction Audits
The invoice auditing processes relied on labor-intensive, hands-on internal transaction audits.
Scalability Challenges
Managing multiple types of contracts, contract terms, purchase orders, and terms across various partners and suppliers made manual transaction monitoring unsustainable at scale.
Lack of Control and Visibility
The use of undeveloped Google Sheets hindered control and visibility across the hierarchy, making it impossible to digitally inform stakeholders about Corrective and Preventive Action (CAPA) inputs.
Error-Prone Business Discovery Reports
The manual approach to invoice auditing resulted in error-prone business discovery reports, impacting the accuracy of data analysis.
Supply Chain Delays
Inefficient invoice auditing processes led to supply chain delays, causing delays in meeting commitments to customers.
Our business has been on a steep growth trajectory, and this growth has highlighted the need for an automated, digitized Invoice Auditing Process driven by a robust product. We chose Vidur as our solution because of its ease of customization, the availability of a dedicated support team, and its exceptional reliability. GDPR compliant, ISO standard compliant made it easy for us to choose Vidur.
General Manager – Customer Delight
Nuggets of wisdom: Why manual Invoice Auditing process doesn’t cut for any Industry vertical
| Problem | Result |
|---|---|
| 1. Time-consuming process | 1. Reduced or sub-optimal operational efficiency |
| 2. High risk of errors and discrepancies | 2. Inaccurate financial records |
| 3. Lack of scalability | 3. Inability to handle larger volumes of invoices |
| 4. Limited visibility and control | 4. Difficulty in tracking and managing invoices |
| 5. Manual data entry and copy-pasting | 5. Higher chances of data entry errors |
| 6.Delays in invoice processing | 6. Slower payment cycles |
| 7. Difficulty in tracking audit trail | 7. Challenges in maintaining a transparent audit trail |
| 8Inefficient dispute resolution | 8. Increased time and effort in resolving issues |
| 9Inconsistent compliance with regulations | 9. Higher risk of non-compliance and penalties |
| 10. Inadequate reporting and analysis capabilities | 10. Limited insights for strategic decision-making |
Why Vidur & what have we delivered?
Within 90 days of implementation some key results that Zetwerk’s achieved
Client Review
Digitizing corrective action and preventive action has significantly improved overall operations.