#Japan #Tokyo #NTT DATA #invox #TetraBRiDGE

Introduction

In an era where digital transformation is accelerating, invox has launched a new service called invox受取請求書 for TetraBRiDGE in collaboration with NTT Data. This innovative solution integrates seamlessly with the TetraBRiDGE® for Bank platform, aiming to enhance invoice processing efficiency for businesses.

The Need for Streamlined Processes

With increasing demands on finance departments due to workforce shortages and regulatory changes, companies face challenges in efficiently handling invoices. Traditionally, the process includes receiving invoices in various formats—paper, PDFs, electronic—and involves multiple steps: content verification, system input, approval, and payment processing. As these tasks are generally manual, they are time-consuming and prone to errors.

The workload is further exacerbated by the necessity of transforming invoice data into payment instructions that need to be uploaded to banking systems. This duplicative effort leads to inaccuracies and increases the potential for human error, making the invoicing process cumbersome and inefficient.

The Solution

To tackle these challenges, in collaboration with NTT Data, invox's invox受取請求書 for TetraBRiDGE automates the entire invoice processing workflow from receipt to payment execution. The service is designed to capture invoices in any format—whether paper, PDF, or electronic—and convert essential data points such as invoice amounts, due dates, vendor information, account details, and more into machine-readable formats with a remarkable accuracy of 99.9%. This is achieved through the combination of AI OCR technology and operator verification practices, revolutionizing how companies handle invoices.

Upon data extraction, the TetraBRiDGE for Bank platform facilitates the creation of payment data based on the digitized invoices. Companies can now streamline their processes by executing payments through an online banking system without manual data entry or CSV manipulation. This integration enables businesses to significantly reduce their administrative burden, allowing them to focus on core operations.

Value Added Through Collaboration

Through the invox受取請求書 for TetraBRiDGE, businesses can optimize their workflow—from the initial invoice receipt to the final payment execution. By digitizing invoice data and linking it to banking operations, companies can avoid redundancies and expedite their invoicing processes effectively.

The partnership with NTT Data allows financial institutions to present a comprehensive workflow to their corporate clients, promoting an integrated approach to invoicing and payment systems. This initiative supports the broader trend toward digital transformation in the accounting sector, fostering efficiency and accuracy.

Future Prospects

Looking ahead, invox and NTT Data aim to expand their collaboration across various financial institutions while further developing their services. Future plans include extending this approach to encompass expense management and invoice issuance, ultimately supporting comprehensive digital transformation in accounting. By enhancing the framework for easier transitions into digital accounting solutions, invox and NTT Data aspire to enable a multitude of businesses to participate in this essential journey, thereby contributing to overall productivity improvements across the industry.

Conclusion

The launch of invox受取請求書 for TetraBRiDGE marks a significant milestone in the evolution of invoice processing solutions. By combining advanced technology with user-centric design, invox and NTT Data are not only simplifying the transactional processes for businesses but are also paving the way for a more efficient future in financial operations.