How can enterprises achieve "paperless finance"? Advancing invoice-archive integration is key

With the development of information technologies such as "big data, AI, mobile internet, cloud computing, IoT, and blockchain," traditional financial management is beginning to shift toward informatization and digitalization, and electronic invoices and electronic vouchers are gradually replacing traditional paper archive materials, prompting enterprises to transform and upgrade and gradually achieve paperless finance, helping reduce costs and increase efficiency.

At the same time, under strong policy promotion, fiscal and tax digitalization and paperless operations have entered a new development window period.

In March 2020, the Ministry of Finance and the National Archives Administration jointly issued the "Notice on the Reimbursement, Booking, and Archiving of Electronic Accounting Vouchers," explicitly proposing that enterprises may use only electronic accounting vouchers for reimbursement, booking, and archiving, without needing to print paper documents. In March 2021, the General Office of the State Council issued the "Opinions on Further Deepening the Reform of Tax Administration," proposing that by 2025, China will basically achieve the electronicization of invoices in all fields, all links, and all elements. In May 2023, the deepening pilot of the accounting data standards for electronic vouchers was fully launched.

It can be seen that,The paperless finance office model is gradually permeating daily enterprise management.

The drawbacks of traditional financial management are obvious     

In traditional office models, enterprise employees often need to spend large amounts of time on trivial and repetitive work such as printing, copying, and archiving various documents. This is even more true for financial work, which requires reimbursing and archiving various invoices and documents every day. Enterprises not only lack efficient archiving methods but also face potential compliance risks.         

As the original materials and important basis for enterprises to carry out accounting work, accounting vouchers play an important role in enterprise business activities. How to efficiently, safely, and compliantly manage electronic accounting archives has become a current challenge for enterprises.

·The accounting archive filing process is complex, time-consuming, and labor-intensive

·Borrowing indexes are hard to find, and off-site borrowing carries loss risk

·Paper documents are difficult to keep, occupy a large amount of space, pile up like mountains with high costs, and are not conducive to long-term preservation

·Low archive utilization efficiency and difficult information sharing

In fact, compared with paper documents, the storage, retrieval, and management of electronic documents are more convenient and faster. Paperless management can reduce the above tedious work, save storage space, save paper, greatly reduce labor costs, improve enterprise financial management efficiency, and also help environmental protection and promote sustainable development of enterprises.

Accelerated rollout of fully digitalized e-invoices reduces enterprise costs   

The invoice digitalization reform is the breakthrough point of China Golden Tax Phase IV construction. Under policy guidance, the fully digitalized e-invoice pilot has advanced rapidly. Fully digitalized e-invoices can be received nationwide, invoicing pilot regions have expanded to 28 provinces and municipalities, and tax digital accounts have been launched, moving from "controlling tax by invoice" toward "governing tax by data," which is also prompting enterprises to keep up with policies and complete their own digital transformation and upgrading as soon as possible.     

Fully digitalized e-invoices move financial processing workflows online, breaking free from the limitations of paper invoices, avoiding unnecessary invoice mailing costs, and improving the efficiency and accuracy of financial personnel. Upgrading to fully digitalized e-invoices can help enterprises achieve digital and paperless management, convert business and financial information into company data assets, break down data silos, unlock the potential data value of fully digitalized e-invoices, and free financial personnel from tedious work so they can devote more energy to analyzing operational data, providing a strong basis for scientific decision-making and enhancing financial value.         

As fully digitalized e-invoices are used more and more widely, taking them as an entry point to connect business and finance processes, transform and upgrade internal business-finance systems, adapt to fully digitalized e-invoice management, and build an integrated business-finance-tax platform has become the choice of more and more enterprises.

Integrated invoice and archive construction to help enterprises transform and upgrade   

For enterprises, business-finance-tax digitalization and paperless operations are not just industry trends; in actual business they involve changes in the objects and methods of financial management, which places higher demands on enterprise information system construction. Integrated invoice-archive construction is undoubtedly the current "optimal solution," comprehensively solving the difficulties of invoice issuance, reimbursement and booking and archiving, revitalizing data assets, improving enterprise business-finance-tax digital management capabilities, and advancing deep business-finance-tax integration.         

Kailing TechnologyRelying on its own product and technical advantages in invoices, documents and certificates as well as rich practical experience, it can provide enterprises with a comprehensive, full-scenario business-finance-tax digital solution. Starting from invoice digitalization, it focuses on connecting the universal financial information of "invoices" to various business segments, including input and output VAT invoice management systems, accounts receivable and payable automation, automatic archiving, one-click reimbursement, one-click tax filing and other major business modules, realizing the aggregation and conversion of enterprise business and financial data, controlling tax risks, building for enterprises a smart invoice management platform that runs through the entire lifecycle of digitalized invoices, and providing support for data analysis to drive enterprises to complete digital transformation and upgrading.

Digital management of input and output VAT invoices, smooth upgrade

Kailing Technology LingShuiTong Invoice ManagementThe system can connect with an enterprise's business systems to achieve full-process digital invoice management including issuance, query, delivery, collection, verification, booking, and deduction. It supports fully digitalized e-invoice upgrades with minimal business impact. Through invoicing automation, collaboration automation, and invoice usage automation, it improves invoice processing efficiency, provides timely warnings of invoice risks, enhances enterprise invoice management and financial shared services efficiency, and reduces enterprise management costs.

Efficient and compliant archiving of fully digitalized e-invoices and other electronic accounting vouchers

Kailing TechnologyElectronic accounting archives products provide archival source materials for enterprise electronic accounting archives through accounting systems, expense control systems, treasury systems, imaging systems, etc., realizing full lifecycle management of electronic accounting archives including collection and organization, archiving, borrowing and viewing, and appraisal and destruction.         

·Automatic matching of original vouchers and bookkeeping vouchers, saying goodbye to trivial archiving work

·Intelligent OCR recognition of electronic files, automatic parsing of fully digitalized e-invoices

·Full-text search accurately locates key archive information, improving utilization

·Compatible with both single-set and dual-set management modes of electronic accounting archives, meeting enterprises' individualized needs         

Beijing Kailing Technology Co., Ltd.——an enterprise business-finance-tax digitalization solution service provider.

Kailing Technology provides solutions for sales management systems, procurement management systems, output invoicing systems, input invoice collection systems, imaging management systems, financial posting systems, electronic accounting archives, fully digitalized e-invoice and Leqi interfaces and other businesses according to enterprise needs, professionally and efficiently helping enterprises transform and upgrade their business-finance-tax digital management.

If you have any business-finance-tax digital transformation needs, welcome to contact us. Beijing Kailing Technology will serve you wholeheartedly.