Invoice Processing efficiency is a bona fide KPI
Organisations need to make invoice processing a priority. It is no longer acceptable to lean on an outdated heavily manual workflow in Accounts Payable. If invoices are habitually taking more than a day to be ingested into systems, more than a week to approve or query, and more than a month to settle then one or more parts of the system are not good enough.
Who says so?
Well, the Department for Business, Energy & Industrial Strategy for a start. Now that reporting of payment practices is mandated for many businesses, the principles behind this legislation constitute best practice for all. If you would like to arrange a call with one of our consultants about scan/capture, validation/verification, storage, or RPA-driven invoice processes, you can make an appointment via this Calend.ly link.
Meanwhile, the following three examples detail organisations which all concluded that improvements to the way they accomplished invoice processing would give them returns on investment, savings on time and better service to their clients. To view the case studies, please click on the blue titles below: