Removing cost, risk and complexity from invoice processing
According to Forrester Research, Accounts Payable has a high cost per transaction, as high as £10 per invoice in some organisations. 97% of invoices are still processed manually, and at least 2% contain an error, providing potential for cost saving and improved productivity.
We can help you transform your existing processes to be more efficient, secure and cost-effective – without significantly changing the way people work. You can reduce invoice processing time, helping your organisation secure early-payment discounts and improve vendor relations, and freeing up your staff to work on other business-critical activities. Your processes will now be documented and repeatable, simplifying audit response and giving you greater oversight into process bottlenecks or inefficiencies.
Our solutions for invoice processing enable you to:
- Capture invoices from disparate sources including mail, multifunction printers (MFPs), fax, email, and other electronic sources.
- Eliminate the cost, risk and delay of shipping hard-copy invoices to central processing facilities.
- Extract invoice data and pre-populate it in your AP system.
- Route invoices to the appropriate person – manually or automatically – for approval.
- Effectively manage vendor relationships with unified access to invoice and payment history.
- Eliminate costly file cabinets and offsite storage.
- Cut copying and printing “footprint” through digitisation.
Invoice Processing Self-Assessment
- How many invoices do you process each month?
- What are your true costs per transaction, including personnel time, transportation, storage and duplication/copying?
- How much geographical or business unit variance exists in your invoice approval processes?
- What are your data entry error rates, and how do they affect process efficiency?
- Do you routinely miss payment discounts?
- How likely are you to fail an audit of your AP process?
- How long does it take to update the centralised AP system to adapt to regional or departmental process changes?