Global e-invoicing volume to reach 15 billion in 2012

e-Invoicing offers cost-saving benefits over traditional paper invoice processingAccording to a recent report, the number of paperless invoices processed globally in 2012 is expected to reach 15bn, with European electronic invoices accounting for up to 4.5bn.

The Billentis report also predicts that over the next few years worldwide electronic invoice processing will experience sustainable growth of between 20 – 30%.

Government initiatives have been a key stimulus for the move to e-invoicing. In Europe, the report estimates that the public sector could save upwards of €40bn by adopting paperless procurement. Other factors leading to the adoption of e-invoicing include:

  • The conservative average cost for processing a paper invoice is £9.00 compared with £3.80 for electronic invoices.
  • Organisations implementing e-invoicing solutions can expect to achieve savings of between 60-80% compared with paper invoice processing.
  • Electronic invoicing processes can deliver an ROI in as little as six months.

 E-invoices and automated invoice processing

UK process automation specialists Data Capture Solutions (DCS)  have enabled public and private sector organisations to significantly reduce costs with automated invoice processing.

DCS automated invoice processing enables faster invoice paymentA typical electronic invoice processing solution can help accounts payable teams achieve faster processing of high invoice volumes with more straight-through processing and faster exception handling.

Instead of printing paper invoices from a computer program, suppliers can be encouraged to output the same invoices electronically in formats such as PDF for submission by email, thus saving on costs such as printing, enveloping, postage and paper storage space.

Touchless processing

The DCS solution enables automatic capture and classification of e-invoices arriving by email. This allows fast, accurate routing of invoices to automated processing workflows with much less manual intervention (touchless processing).

Automated invoice processing enables greater process visibilityThe solution enables automatic extraction of transactional data straight from PDF, EDI, XML and other e-invoice formats, as well as from electronically captured paper invoices.

Validated data can then be delivered straight to back-end ERP and accounting applications, eliminating the need for manual rekeying and scope for human error.

DCS invoice processing solutions allow your accounts payable team to:

  • Automate reconciliation of the majority of recurring and purchase-order referenced invoices for more straight-through processing.
  • Identify unmatched or duplicate invoices sooner with release into monitored exception handling workflows.
  • Set up pre-defined coding rules for more automated invoice coding, including at line item level.
  • Deploy rule-based routing and tracking of invoices through complex or multi-site approvals workflows supported by automated alerts, reminders and escalation.
  • Replace paper invoice handling with a highly visible, measurable and auditable electronic process, delivering shorter cycle times and more on-time payments.

Start saving money with e-invoicing

Call our process consultants today on 01753 616 720 and find out more about how e-invoicing could benefit your organisation. Or send your enquiry by email to info@dcs.co.uk.

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Business Solutions

Improve cash flow by shortening the order to cash cycle and quicker invoicing.
Work with accurate order information and reduce errors in payments and order delivery.
Manage exceptions better by reconciling invoice information with other order related documents.

Data Capture Solutions LTD, 345 Edinburgh Avenue, Slough, Berkshire, SL1 4TU. UK
Tel: 01753 616720 | Fax: 01753 616721
Company Registration No: 03186665. VAT 627576510