Blog

Addressing the Challenge of Financial Process Complacency

shutterstock 181452521Finance Directors and teams can be blamed for delaying payments but recent research suggests otherwise. The research - conducted by Invu of UK finance workers - suggests late payments are often a result of poor purchasing systems and processes, rather than a cash management decision based on visibility and control.

Businesses spending additional time and effort chasing money due to late payments isn't new and our research results show that 8 in 10 UK (83%) finance workers reported they are not always paying their suppliers on time. On top of that, with finance departments making basic errors such as duplicate payments - chaos quickly begins to reign.

In this blog Ian Smith, Finance Director & General Manager, takes a look at issues facing finance managers when it comes to finance processes.

Read more...

Late payments endanger innovation and company survival

late paymentSpend control is all important to a company's bottom line and can be the difference between a profit and a loss but all SME's know you cannot pay your wages bill with profit. Cash as they say is king.

The availability of cash in a business is all about working capital management and a key element is getting your customers to pay you on time. So what is so hard about that? Surely if you do a good job, provide excellent goods and services, you'll get paid on time. There is more to it. Getting paid on time relies on back office processes you can control, your own billing process, and processes you can't control, your customers ordering, receiving, invoice processing and payments process.

Read more...

The Invu 2015 Journey - What a year

20152015 is fast coming to a close and over a cup of tea and minced pie, we decided to take a look back on the year.

We personally feel as though the last year has been jam-packed, with one highlight being our Invu User Conference in November. Aside from that, growth in team members, R&D with the new update 6.10 and a string of industry events have kept the team busy throughout the last 12 months.

Here we have rounded up our top highlights of the year.

Read more...

Are you experiencing Christmas Chaos? Retailers’ requirement for supply chain management

Xmas blog imageRetailers are still recovering from the biggest Black Friday and Cyber Monday to date in the UK – £3.3bn spent over the weekend – but after witnessing an ‘end of days’ frenzy at many bricks and mortar shops, consumers this year hit the virtual high street and instead opted to buy online. The focus now shifts to the supply chain to fulfil the orders.

Read more...

Annual Invu User Conference 2015: Taking an Industry Perspective

User Conference WebFollowing the success of our previous user events, we are happy to announce that our annual User Conference is being held at The Brewery on Chiswell Street, London, on Thursday 12th November 2015.

We have a mix of industry speakers – from customers to the Invu CTO and more – presenting on a range of topics, including our three core solutions: Document Management, Invoice Processing, and Purchasing. With 2016 just around the corner, we will be taking a look at what industry trends and challenges we have seen and what we are predicting will be important to business processes in the New Year.

Read more...

The Invoice Pantomime: And how to end it

Panto ImageWhen implementing invoice automation processes at many mid-sized businesses, you can often witness a 'pantomime' effect taking place! Invoicing is in a rather muddled state. "Oh no it's not!" you might shout. "Oh yes it is! is my response.

Read more...

Three things Housing Associations can do to reduce reliance on paper

Housing blog imageHousing Associations across the UK own around 2.7 million properties according to the Office of National Statistics. That's a lot of paper! From property and maintenance records to confidential tenant information and supplier Purchase Orders, many housing associations have thousands of documents they have accumulated over the years.

Read more...

Research into the UK Purchase Order Process

CEt5J2ZWAAA7D9RTo support the release of our Purchase Order Processing (POP) solution we have researched the UK SME industry to better understand the challenges and pain points facing financial controllers. Performed by independent research house, RedShift Research, our report addresses the fragmented approach UK SMEs have to POP.

Read more...

Invu Summer Roadshow – London, Birmingham, Manchester.

Roadshow blog imageAs summer approaches we are hitting the road with three customer events in London, Birmingham and Manchester. The Invu Summer Roadshow event's are free-to-attend and provide the opportunity for us to update customers on the latest solutions, modules and developments to the Invu technology.

Read more...

Hide and Seek: Keeping Track of the Evil Purchase Order

 

POP Blog imageIt is a battle any financial worker will understand - knowing where a Purchase Order is within the Purchase Order Process (POP) and validating all elements required are completed has been giving financial workers a headache for many years. Invu recently commissioned some research into the area of POP, asking 200 financial workers in SMEs located in the UK what challenges they faced.

Read more...

Purchase Order Processing: A snapshot into our industry survey

Purchasing survey blog image finalThe purchase order system is broken. A bold statement perhaps, but one that we agreed summed up the situation in many small to medium sized businesses (SMBs). However this was merely our interpretation of the market based on our day-to-day experience, we had nothing to support this notion. To investigate our belief in more depth, we embarked on a piece of independent industry analysis that involved surveying 200 UK finance professionals working in SMBs.

Read more...

eWorld – Crossing the Purchase Order Process Chasm

POP Blog image

The team at Invu recently attended eWorld Procurement & Supply, the Leading Bi-Annual Event for Procurement Innovation, on the 3rd March to discuss the latest trends in the procurement world.

Stuart Evans, CTO of Invu, started off the morning with a presentation titled ‘Crossing the Purchase Process Chasm’ where he got down to the nitty-gritty of systematizing the Purchase Process, including the challenges that many companies face in making that leap.

Read more...

Invu exhibiting at the Housing Finance Conference and Exhibition

housing finance warwickWe will be attending the Housing Finance Conference and Exhibition at the University of Warwick tomorrow, Wednesday 18 March. The yearly event is for finance professionals in the social housing sector and sees over 1,000 business minds meet for topical debates, to share best practices and learn about the latest products to take back to the office and future proof their organisations.

Read more...

eWorld

purchasing blogWe will be attending eWorld at London's QEII Conference Centre today, Tuesday 03 March. The biannual event on procurement and supply provides unique insight into the latest innovations and technologies for supply chain, senior procurement and finance executives.

Our very own CTO, Stuart Evans will be speaking from the Fleet Room at 10:20am to discuss – 'Crossing the Purchase Process Chasm: The Key Elements to a Successful Implementation'. During his session, Stuart will be discussing how moving your business to a requisition/order driven process is a step most SMEs want to make do but never do or fail trying. Stuart will discuss how companies can both enable staff and create an efficient, well controlled purchasing process for business.

Invu will be exhibiting at the show with its partner ABBYY Europe and will also launch its new Purchase Order Processing (Invu Purchasing) technology at the event. 

Read more...