What challenges does your organization face?
All companies have to handle and process incoming invoices from their suppliers. How this process is managed and controlled varies.
Invoice processing is often seen as a “necessarily-evil” process for all companies; very labour intensive and requiring manual effort from people, because that’s how it’s always been done. As a result, many organizations have lost sight of such inefficiencies and missed opportunities for process improvements as well as vital cost savings in this area.
The ExceleratedS2P Invoice Management team looks at optimizing the end to end process from the receipt of the supplier invoice to its system entry and processing right through to its readiness for accurate and timely payment to suppliers.
Whilst some organizations have embarked on Invoice Management initiatives, various facets need to be addressed to achieve successful results via improved processing:
- Don’t treat Invoice Management as purely an AP function in isolation, its reach and process implications have to be seen across the organization and certainly across the P2P process.
- The road to successful Invoice Management needs good planning, understanding and buy-in along with sound expectation management.
- Invoice Management strategies and approaches will vary dependent on your organization and your goals.
- Invoice Management is not all about automation, such as the quest for no touch processing. You need to have that balance between such automation and the process control over ultimately what you pay to your suppliers
Control & visibility
Including all incoming supplier invoices and documents.
For supplier queries, for easier collaboration with suppliers.
All invoices go through less touch or even touchless processing by people
Improved supplier relationships
Via on-time and accurate invoice processing and payment.
Facilitate & improved
Invoice matching for PO Based invoices to accommodate automation
The handling and processing with move to variety of supported electronic means; further enabling improved invoice matching.
Effective & clear handling
All exceptions go through automated workflows and associated notifications.
Supports finance processes
Including improved reporting and closing activities.
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How can we help?
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