Three Useful Options
Reinforce MONITOR ERP with Electronic Invoice Management, E-Invoice and Tools & Maintenance.
Being a complete all-in-one advanced manufacturing system, MONITOR can be extended with additional super powers with a range of options and functions to future-proof your business for Industry 4.0.
Below are three options which we feel will be very useful for your business.
Electronic Invoice Management (EIM)
Digital Transformation is happening rapidly across the country and in Southeast Asia. As such Electronic Invoice management (EIM) will be a very useful option to add on to your MONITOR setup.
EIM digitalizes and streamlines management of supplier invoices, directly from MONITOR. Users benefit by being able to cut down on the time required to register invoices by opening a PDF or scanned document at eye level.
It also helps reduce the use of paper and files which are not only expensive, difficult to search and track; but also takes up space and is not environmentally friendly.
This is the reason why companies are starting to cut down on printing and adopting digital documents instead.
Digitally transform your invoicing processes with this option. E-invoice allows you to send e-invoices to your customers and receive them from your suppliers.
Manual input and paper-based documents can be greatly reduced as the invoices are directly transferred between MONITOR and the systems used by your customers and suppliers.
Integration with major E-invoicing service providers such as Peppol, makes your business future-proof and ready for new government legislations to adopt E-invoicing as a compulsory business practice in the future.
Good to know! In Malaysia, if computers are used to record Accounting/ Tax transactions, original source documents such as invoices and receipts should be retained. However, if the original documents are in electronic form, the documents can be retained in such form.
The retention of such records are for at least 7 years from the end of the year to which any income from the business or operations related. If there are disputes such as failure to submit return of assessment on time, appeals against an assessment etc. would warrant for a further extension of the 7-year period. With the use of EIM, invoices are converted to digital form and can be retained as long as they are still required by the authorities.
EIM can be reinforced by the EIM Invoice Capture and EIM Workflow options in order to automate your full invoice flow – from registration and linking to purchase orders, to final recording.
Tools & Maintenance
Tools & Maintenance is another useful option that can help you to locate tools more easily and cut setup time through coordinated processing of tools.
It allows businesses to systematize maintenance and boost reliability by performing the right maintenance at the right time.
Maintenance is key to extending the lifespan of your tools. It ensures better availability of equipment, therefore reducing production stoppages and increasing overall equipment effectiveness (OEE).
By systematizing routine maintenance and keeping track of facilities, companies are able to optimize utilization of facilities as well as manpower.
MONITOR shows a clear maintenance schedule of all tools, this gives you a clear picture of which tools need maintenance, and which tools had been serviced.
In the long term this helps to extend the lifespan of your tools.
You may check out all available options or contact us for more information via the button below: