Retail

Cut Costs and Save Time: Transform Retail Supplier Invoices into Digital Workflows

Streamline retail operations by digitizing supplier invoices. Discover top no-code tools and hiring strategies to cut costs and save time effectively.

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Will Hawkins
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Digital Supplier Invoices: A No-Code Usecase

 

Use Case Overview

 

This use case focuses on the digitalization and automation of supplier invoices within the retail sector utilizing no-code platforms. This transformation aims to streamline invoice management, enhance data accuracy, and reduce manual labor. Key actors involved include the Retail Company's Accounts Payable Department, Suppliers, and the No-Code Platform.

 

Actors

 

  • Retail Company's Accounts Payable Department: Responsible for processing, validating, and paying supplier invoices.
  • Suppliers: External vendors providing goods and services to the retail company and issuing invoices.
  • No-Code Platform: A software tool used to implement the digitalization and automation processes without the need for extensive programming knowledge.

 

Scenario

 

The Retail Company's Accounts Payable Department receives numerous supplier invoices in various formats such as PDF, email attachments, or paper. Due to the diversity of invoice sources, processing these manually is time-consuming and error-prone. The company decides to implement a no-code platform to streamline the process.

 

Process Flow

 

  • Invoice Submission:

  • Suppliers submit invoices through a centralized portal available on the no-code platform. The platform accepts multiple formats such as PDF, JPG, and scanned documents.

  • Data Extraction:

  • The no-code platform utilizes optical character recognition (OCR) technology to extract relevant data from the invoices automatically. Essential fields like invoice number, supplier name, date, and total amount are identified and digitized.

  • Validation:

  • The extracted data is automatically validated against purchase orders and delivery receipts stored within the system. Discrepancies trigger alerts for the Accounts Payable Department to review manually.

  • Approval Workflow:

  • Upon successful validation, the no-code platform triggers an automated approval workflow. Configured rules ensure invoices reach the right authority levels for prompt approval without manual intervention.

  • Payment Processing:

  • Approved invoices are pushed into the enterprise resource planning (ERP) system through integration with the no-code platform, automating the payment scheduling based on due dates and cash flow considerations.

  • Archiving and Reporting:

  • The platform archives all invoices and related data, ensuring easy access and compliance with retention policies. It also generates reports and analytics on invoice processing times, outstanding payments, and supplier performance.

 

Benefits

 

  • Reduced manual data entry errors by leveraging automated data extraction and validation.

  • Improved efficiency with faster processing times and less reliance on human intervention.

  • Enhanced visibility and traceability of invoices, facilitating better audit readiness.

  • Cost savings achieved by reducing the labor hours in invoice processing and improved cash management.

 

Considerations

 

  • The no-code platform must be compatible with existing systems for seamless integration.

  • Comprehensive training for the Accounts Payable Department is necessary to maximize benefits.

  • Security and data privacy protocols must be enforced to protect sensitive financial information.

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Why Choose Digital Supplier Invoices

 

Efficiency and Speed

 

  • Automating supplier invoices reduces the time spent on manually entering data and processing paperwork, enabling faster transactions.
  • No-code tools allow for quick deployment of automation workflows without waiting for lengthy software development cycles.

 

Error Reduction

 

  • Digitalization minimizes human errors that can occur during manual data entry, ensuring accurate invoice handling.
  • Automation systems can verify invoice data against purchase orders and contracts to reduce discrepancies.

 

Cost Savings

 

  • By minimizing manual labor and errors, businesses can significantly reduce operational costs associated with processing invoices.
  • No-code solutions offer cost-effective alternatives to traditional software development or expensive off-the-shelf products.

 

Improved Supplier Relationships

 

  • Automated workflows enhance communication and transparency with suppliers by ensuring timely and accurate invoice processing.
  • Suppliers are typically more satisfied when their payments are consistently on time due to streamlined processes.

 

Enhanced Data Management

 

  • Digital systems store all invoice data electronically, making retrieval, analysis, and reporting more efficient.
  • No-code tools often come with built-in analytics features, offering insights into spending patterns and supplier performance.

 

Scalability

 

  • Automated invoice processing can easily scale with the business as it grows, accommodating increased transaction volumes without additional resources.
  • No-code platforms allow businesses to modify and expand automated processes quickly to meet new demands.

 

Compliance and Audit Readiness

 

  • Digitalization allows for better compliance tracking by documenting all processing steps and maintaining detailed records.
  • Automation provides a clear audit trail, simplifying regulatory compliance and audit preparations.

 

Top No-Code Tools for Digitizing Supplier Invoices

Airtable
 

  • Airtable combines spreadsheet functionality with a database, providing an intuitive interface to track, manage, and automate supplier invoices. It excels at offering integration options with various third-party applications, making it easier to automate and streamline invoice processing in retail.
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Bubble
 

  • Bubble is a powerful no-code platform that enables users to build complex applications, such as supplier invoice workflows, without writing code. Its drag-and-drop interface and access to backend processes allow for customized automation solutions tailored to retail industry needs.
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Glide
 
  • Glide transforms spreadsheets into easy-to-use business applications. Retailers can utilize it to create a user-friendly interface for their supplier invoice workflow, facilitating efficient data entry and ensuring that the process from invoice receipt to approval and payment is swift and error-free.
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Webflow

 

  • Webflow is primarily known for web development, but its CMS and automation capabilities can be effectively harnessed for digitalizing invoice workflows. It provides seamless integration with other tools and webhooks, aiding in the automation process and helping retail businesses keep track of supplier transactions efficiently.
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Adalo
 

  • Adalo allows users to create mobile applications that can automate supplier invoice processes. Retailers can leverage Adalo to design apps that connect other technical aspects of their business, allowing for smooth data flow and real-time updates in tracking and managing invoices.
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How to Hire Experts for Digitalizing Supplier Invoices

 

Who to Hire

 

To digitalize the supplier invoices workflow in the retail industry using no-code tools, you should hire a No-Code Developer or a No-Code Automation Specialist. These professionals have expertise in creating automated workflows without extensive coding knowledge by leveraging platforms that allow integrations and process optimizations through intuitive interfaces. A candidate with experience in retail and an understanding of supplier and invoice management processes can provide added value.

 

Guide to Hiring a Great No-Code Developer

 

Identify Your Needs

 

  • Clearly define the scope of the project, focusing on aspects such as data integration, workflow automation, and user interface design.
  • Consider the complexity of your retail operations and the types of suppliers involved to tailor the expertise you're seeking in a candidate.

 

Evaluate Relevant Experience

 

  • Look for candidates with direct experience in automating retail processes, particularly in supplier invoice management, using no-code platforms.
  • Check if they have hands-on experience with popular no-code tools like Zapier, Airtable, or Integromat.

 

Assess Problem-Solving Skills

 

  • Conduct a practical test or scenario-based interview to evaluate their ability to troubleshoot and innovate solutions to common workflow challenges.
  • Review case studies or project portfolios to see how they've overcome similar challenges in the past.

 

Communication and Collaboration

 

  • Ensure the candidate can clearly communicate their ideas and solutions, as they'll need to collaborate with different stakeholders in your organization.
  • Assess their ability to understand and translate business needs into technical solutions.

 

Cultural Fit

 

  • Determine whether the candidate aligns with your company’s values and culture, which can often predict their adaptability and long-term fit within your team.
  • Ask about their willingness and ability to adapt to new tools or changes in the project scope as needed.

 

Remember, hiring the right person for digitalizing workflows can set the foundation for seamless process improvements and long-term efficiency gains, ensuring your retail operations are both competitive and efficient. Agencies like Bootstrapped, known for their no-code expertise, can be a valuable resource in finding the right talent who can meet your specific workflow automation needs.

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