What do you think of when you hear about electronic workflows? The term is very capacious and includes two main categories of workflows, which are quite significantly different from each other. We are talking about electronic circulation of contracts and electronic circulation of invoices. What is worth knowing about them?

Electronic workflow of invoices – how is it done?

Working with expense documents is a daily occurrence that virtually every company faces. Sole proprietors or companies with a few employees often generate and receive so few invoices that they have no problem keeping track of them.

In larger companies, where these documents number in the hundreds and more, a tool to automate the invoice workflow is needed, namely an electronic system. Tools for streamlining the work with invoices at the first stage make it possible to quickly register each invoice – both electronic and paper, and read the data from it without the need for transcription with the help of an OCR system. However, the automations responsible for registering invoices usually have an efficiency of about 70% and require putting in extra work to teach them to recognize records properly.

An invoice entered into the system is linked to a specific order, described and forwarded for approval to a responsible person (e.g., a department manager), who then forwards the document for payment and to the accounting department.

The system for electronic invoice circulation automates these activities, speeds up work and eliminates the risk of errors resulting from manual data entry.

What are the stages of electronic contract workflow?

Contract workflow is a slightly more complex process and requires a more sophisticated system. For contracts, tenders or even intra-company documents, the process begins with the creation of the document content.

The Hatiroo® electronic document workflow system integrated with Microsoft365® provides users with two paths. The first is to create the document content from scratch. Each team member involved in the project works on the same document, which avoids the problem of a dozen draft versions of the agreement, from which it is ultimately difficult to glue the whole. The second option is to use a ready-made template of the agreement and supplement it with the contractor’s data or only slightly rewrite the content. The second option is especially important for repetitive contracts, such as those used by salespeople. Within the system, the templates are always at hand and you don’t have to nervously search your computer disk to find the right file.

The file with the finished content of the agreement can have different paths – it all depends on the pre-established process. It can go to the legal department, whose employees will verify its content or add the missing parts. It can also go to the approval of, for example, a department head. It can also go directly to the board of directors, i.e. the people authorized to put their signatures on the document.

With DocuSign® integration, the Hatiroo® system automatically routes the document for signature, and board members can approve it with a few clicks on any device with internet access.

The final step is to forward the contract to the contractor. Thanks to the DocuSign® platform, he too will be able to sign the document electronically – even if he has not used this tool within his company so far.

Invoice circulation involves describing and accepting an already existing document, as well as posting and payment, while contract circulation requires creating a document, accepting it and collecting signatures. It therefore becomes crucial to choose the right tools for such different tasks.

Electronic systems for the circulation of documents – be they invoices or contracts – significantly streamline work and save time. These are solutions that will soon be used in almost every company. And if you can make your work easier, why not do it now?