The Importance of Invoice Automation with Invoice Management Services for Convenience Stores

Managing invoices in a convenience store environment is no small task, especially when dealing with a diverse array of purchases such as groceries, cigarettes, and fuel. Traditional manual methods can be time-consuming, error-prone, and overwhelming, particularly when handling 60-90 invoices monthly per store just for groceries. That’s where invoice management services come in, offering a streamlined, automated solution to save time, reduce errors, and improve operational efficiency.

Why Invoice Management Matters

Invoice automation provides a centralized system for processing, managing, and storing invoices. It eliminates the chaos of handwritten invoices, scattered vendor communications, and disorganized financial records. Here’s why it’s crucial:

1. Efficiency and Time Savings: Manual invoice processing requires staff to enter data, verify details, and track payments – tasks prone to human error. Automated systems handle this seamlessly, processing invoices quickly and accurately, which allows staff to focus on higher-value tasks.
2. Accuracy and Time Savings: Automation reduces the risk of misplacing invoices or making calculation errors. Whether invoices are handwritten or electronic, an automated system ensures consistency and precision.
3. Compliance and Record-Keeping: Automated invoice management provides a detailed record of all transactions, which is essential for audits, tax filing, and financial analysis. It also helps stores comply with industry regulations and standards.

Key Features of Our Invoice Management Service

Our service is designed specifically for convenience stores and handles a wide range of purchase types:

• Grocery Purchases: We manage 60-90 invoices monthly per store.
• Cigarette Purchases: These are typically less frequent, processed once or twice a month.
• Fuel Purchases: Whether fuel invoices are received electronically or manually, we process them efficiently.

Note: While we manage a variety of invoices, lottery reconciliation is excluded from our services as it is handled separately through mercury|One’s back office software.

We accept all purchase invoices, including handwritten ones, ensuring no transaction is overlooked.

Minimum Requirements to Get Started

To use our invoice management services, customers need the following:

1. Scanner/Printer: A scanner is preferred for digitizing handwritten or printed invoices, but any standard scanner/printer will suffice.
2. Email Setup: Each customer gets a dedicated email on our platform. This ensures all electronic invoices, including EDIs, fuel jobber communications, rack prices, and invoices, are automatically routed and posted to the account.

Onboarding: Setting the Foundation for Success

During onboarding, we ensure your system is configured correctly and optimized for your specific needs. Key steps include:

1. Vendor Setup: We gather and input vendor information, payment details, categories, and financial institution details. This creates a comprehensive database of all suppliers.
2. Agent Terminal Configuration: On the agent side, you’ll have visibility into vendors and their details, enabling easy tracking and management.
3. Hardware and Email Setup: We ensure all necessary hardware (scanner, printer) is operational and emails are correctly routed for seamless communication.
4. Custom Configuration: We tailor the system to accommodate the unique needs of each customer, ensuring smooth and effective operation.

What Happens After Onboarding?

Once the onboarding process is complete, our services take over:

• 89% of invoices are processed through the agent terminal when deliveries are made by cashiers.
• 11% are uploaded online via scanner or mobile app.
• Store owners and managers can add purchases manually if necessary.

Additional Features:

• Automated Ordering: Set rules for minimum and maximum stock levels to trigger reorders automatically.
• Health Check Reports: Receive regular reports summarizing your store’s purchasing health.
• Fuel Management: Whether fuel jobbers send rack process, bill of lading, invoices, or drafts manually or electronically, we handle it.

The Benefits of a Streamlined Process

Invoice automation isn’t just about simplifying invoice management; it’s about empowering your business with the tools to grow efficiently. With our services, you can reduce administrative burdens, minimize errors, and have a clearer understanding of your financial health – all while staying compliant and organized.

By partnering with us, you ensure that your store’s purchasing and invoicing processes are in expert hands, freeing up valuable time to focus on your customers and operations.

Ready to transform your invoice management? Contact us today to learn how we can help!