Automated Invoice Processing

Processing supplier invoices is something every organisation has to do, but you may not be aware of the true costs involved. Research has shown that the standard end to end costs of invoice processing can range from £4 to £50 per invoice.

Companies can make significant cost savings by switching to an automated invoice processing solution. For example a company processing 50,000 invoices per annum at an average of £4 per invoice could save approx £100,000 per annum.

DCS automated invoice processing provides a software module based solution, which provides:

• Automatic import of EDI invoices
• Automated extraction of header and line items
• Automated matching with PO and optional GRNs
• Validation of data with your ERP database
• Automated or manual 'single/multi-person' normal coding
• Automated route and approval workflow over the web
• Automated final posting to ERP system
• Automated archive of invoices
• Fully automated compliance with various tax requirements
• Management console and reporting at any time

In addition we also offer an outsourced service depending on your requirements.

What is invoice processing

Invoice processing involves the handling of incoming invoices from arrival to post.

Invoices have many variations and types. In general, invoices are grouped into two types:

• Invoices associated with a request
• Invoices that do not have an associated request

Most companies have clear instructions regarding processing incoming invoices. Different sets of instructions are commonly found regarding the handling of purchase order invoices or non-purchase order invoices.

The main department that processes invoices is known as accounts payable department. The process involving a supplier invoice is also known as purchase to pay.

Automated invoice processing allows you to:

• Have better visibility over the whole invoice process
• Improve transaction tracking
• Reduce manual errors and improve accuracy
• Produce accurate and fast liability reports
• Improved financial compliance
• Management peak loads easier
• Handle exception and query handling faster
• Improve ability to claim early payment discounts

In addition to automating your invoice processes, DCS can also supply a fully integrated purchase to pay solution, which has its own value proposition and additionally aids matching within an automated invoice process.

Find out more about automated invoice processing

For more information about automated invoice processing please call us on 01753 616720 or complete our contact form for a fast, tailored response.