Invoice processing is the complete method of managing a supplier bill, from its receipt to the time it is recorded in the data system and awaiting payment. Novartis is a Switzerland based international healthcare organization that offers solutions for addressing the changing prerequisites of patients in many countries globally (Novartis, 2021). In this circumstance, invoicing dealers, clienteles, commercial partners, and personnel in this enormous entity would be challenging.
Furthermore, paper invoicing involves extensive human involvement, and transmitting the forms and related data is overwhelming and time-consuming. Tax laws differ from one country to another; thus, paper invoices will have different formats because of multiple languages (Bouwman et al., 2019). This scenario will complicate the processing of those bills at the central location. The diverse languages and their matching currency and exchange rates will make the billing more complicated for enterprises like Novartis.
Information Technology’s Assistance in Solving the Problem
Information Technology (IT) experts delivered a software solution to Novartis’ invoicing problem by making a fast and precise document capturing and multi-language system. Furthermore, the transmission of such electronic forms can be simplified through fax and email. Similarly, various Novartis branches in different geographical locations would be supplied with the correct information in time for invoice processing. Automatic linguistic translation, levy calculation logic, and formatting standards will be applied as a software resolution, making the invoicing more effective and efficient (Bouwman et al., 2019).
Since data recorded can be reorganized, updated, and be processed at the back-end servers, the dispensation would continue without disturbances by creating server clusters with great accessibility in periods of adversities and environmental instabilities.
InputAccel’s other Functions and their Long-term Importance to the Company
Apart from solving the IT-related issues, InputAccel’s other functions include offering accounting and billing solutions, raising the company’s total efficiency enabling Novartis to focus more on its main purpose of research and improvement of products. Nonetheless, altering medical procedures, accessibility of raw materials, local regulations, tariff variations, and political occurrences may influence the invoicing process (Bouwman et al., 2019). Therefore, InputAccel could make a swift change in the software’s applicable part without affecting the overall bill processing. Lately, Captiva’s move of allowing its recognition software to receive and apply Russian characters will aid Novartis in spreading its operations to Russia.
References
Bouwman, H., Nikou, S., & de Reuver, M. (2019). Digitalization, business models, and SMEs: How do business model innovation practices improve performance of digitalizing SMEs? Telecommunications Policy, 43(9), 1-14. Web.
Novartis. (2021). Novartis. Novartis. Web.