7 Rules for E-Invoicing and AP Automation
7 Rules for E-Invoicing and AP Automation
The AP department is by its very nature labour intensive and drowning in paper. Paper invoices arrive only to be dispatched again to the relevant person/department for approval – a slow, costly journey, though perilous bottlenecks, which can often take weeks if not months to complete. In the meantime suppliers get frustrated and savings from early payment discounts are lost.
Digitising AP and taking it online however, enables you automate many processes and bring you one step closer to paperless invoicing.
For example, Invoice imaging converts paper into data and imports invoice details directly into your ERP system or e-invoicing hub – you need never receive a paper invoice at your office ever again! Workflow modules can also introduce tighter controls over the entire invoice to payment process, efficiently routing (and tracking) an invoice to the correct person for expedient online approval and management. Benefits of introducing such solutions include increased visibility, fewer supplier enquiries, faster approval and reduced risk.
So the technology is available, but what and where should you focus your efforts to make sure you achieve maximum benefit? Our new article 7 Rules of E-Invoicing and AP Automation looks at how you can implement change in AP to help your business run more profitably.