Contact DCS: +44 (0) 1753 616720
 

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 It is no longer acceptable to lean on an outdated heavily manual workflow in Accounts Payable.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:

Irwell Valley Housing Association

accepted  Daily invoices take 1 staff member 1 hour to validate (formerly 3-4 hrs)

accepted  Paperwork backlog eliminated

accepted  Future-proof solution deployable to other departments

accepted  In-house deployed solution.

ARI Fleet UK

accepted  9hrs per day reduced staff time processing and authorising invoices

accepted  Invoice chasing requests reduced by 50% and improved supplier relations

accepted  Reduction in per-invoice processing costs

accepted  In-house deployed solution.

Notcutts

accepted  End-to-end visibility of the invoice approval system

accepted  Invoice processing time reduced by 60% and improved supplier relations

accepted  Eliminated risk of document loss

accepted  In-house and outsourced solution elements.