Processing incoming invoices, whether paper-based or electronic, usually involves a lot of time-consuming manual work for finance and controlling departments.
A significant amount of time can be spent verifying and reconciling data in the processed invoices (for example, with the corresponding data in NAV’s Online Invoicing System or in purchase orders), pre-accounting tasks, or the administration of incorrectly issued invoices that have been received.
PwC’s Book your XML solution is designed to automate these manual tasks and processes, and to detect potentially erroneous data in advance.
PwC Book your XML
Since January 2021, almost all invoices subject to the Hungarian VAT Act must be reported. This has made it possible to significantly expand the range of AP invoices/invoice data that can be downloaded from NAV’s system.
In addition, all reported invoices issued by domestic taxpayers can be downloaded from NAV’s Online Invoicing System in XML format. In this way, domestic supplier invoice data can be retrieved, and the accounting of invoices can be automated.
PwC’s Book your XML solution allows you to download and process invoice data validated by NAV and compare it with the data of incoming paper-based invoices (e.g. processed with OCR) or electronic invoices (e.g. received by e-mail in PDF format). Additional modules can compare incoming invoice data with PO data and automate the time-consuming process of pre-accounting using machine learning, or implement the digitisation of the approval process in one step or separately, in conjunction with existing solutions.
Retrieval of supplier invoice data in digital format from paper-based or electronic invoices and from NAV’s Online Invoicing System.
Comparison of invoice data from different sources (NAV’s Online Invoice, OCR, e-invoices, manual data entry, etc.), identifying and managing discrepancies and errors.
Comparing purchase order (PO) data with invoice header and item data, identifying and managing differences.
Suggesting, verifying and approving the addition of the appropriate accounting information, based on AI-assisted self-learning.
Simple (two or three pre-defined steps) or more complex (including the handling of exceptions) automated module, which can provide full support for your invoice approval needs.
Book your XML is modular: it is flexible and can be adapted to your existing invoicing processes and systems. Modules can be added independently to your existing processes and software, or you can implement end-to-end invoice processing by adding all modules at once.
