The summer holidays are past us and everyone has settled in for a busy autumn here at Qvalia. It has been a pleasure to see so many returning customers in both the private and public sectors.
It is self-evident that, at today’s pace of business, companies cannot post, for example, 50,000 invoices each year without making errors, and there simply is not enough time to resolve all unclear cases. With our customers, the usual culprits are incoming invoices and scanning or manual processing stages, with the errors occurring in, for example, various codes, postings and credit notes. Currency conversion errors and VAT processing can also be added to the list of suspects. As a whole, these issues are highly demanding on invoice verifiers. The CFOs of our corporate customers want us to check the monetary significance of unresolved issues, reduce their incidence in the future and test the functionality and quality of their processes. On the other hand, their subordinates, the accountants, wish for clearer instructions for potential ambiguities and for the resolution of issues open to interpretation, such as questions related to VAT. And everyone wants the project to be completed on time, without any surprises with regard to the schedule.
Indeed, the continuity of our customer relationships is based on the success of projects. A well-planned project produces the best outcome and enables us to build lasting partnerships with our customers. Long-term customer relationships are based on trust and acting in the interests of the customer (such as achieving the return of their funds).
The single most important step in achieving efficiency in financial administration is digitalisation. Electronic financial administration means paperless and automated processes. Service provision is most efficient when each party focuses on its own field of expertise. At Qvalia, we process and analyse more than 20 million invoices each year. We perform our statistical analyses with one of the best tools on the market and take care of any required corrective measures and the processes they entail, such as discussions with suppliers and local tax authorities. By focusing on high-quality analytics, electronic services and securing the return of our customers’ funds, we will be able to keep serving our customers in the best possible way tomorrow as well as today.