The death knell of manual invoice processing should now be heard!

Read the latest article by Nik Healy, Consultant and Advisor, Document, Content and Workflow Solutions at Pawpear.

The dream of the paper-free workplace has been around for decades, with many people believing it would be achieved by now. But the transition hasn’t been smooth for most organisations.

Financial departments, the backbone of every business, are still manually processing invoices.

An accounts payable automation study from 2014 (published by the Institute of Financial Operations in the USA), reveals that almost 50% of respondents said that paper invoices account for more than 75% of all of their invoices

It is most likely that the results are similar in Ireland.

And while electronic invoicing is reducing paper volumes, without a fully automated process, it isn’t removing the need to extract the data for approval and payment.

Ironically in an effort to maximise profit, many organisations focus on achieving the lowest cost of sale by negotiating with their suppliers in terms of price, payment terms and rebates.

Why go to the effort to enhance supplier terms, if you are wasting time and money on the paperwork generated as a result of these relationships?

Read more in Nik’s article – The death knell of manual invoice processing should now be heard!

To talk to us about electronic invoicing and how you can reduce manual invoice processing in your organisation: Email nik@pawpear.ie or call Nik on 01 296 5180

Posted in Document Management

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