eInvoicing: The benefits

An invoice is a business document issued by a selling organisation to a buying organisation. The process of manually logging and approving invoices can be painstakingly long, with Accounts Payable teams suffering under inefficient paper processes whilst also fighting the threat of duplicated efforts, late payments and errors. In a recent study the CIMA stated that ‘the average UK business receives 323 invoices a month’ and a massive ‘34% of those surveyed admit their organisation does not process all of their supplier invoices in a timely manner.’

E-Invoicing revolutionises the Order to Pay process by utilising an electronic solution to automatically validate invoice data sent by suppliers and then input this information into your company’s ERP system. Importantly, to avoid errors, E-Invoicing solutions can be configured with validation rules to ensure only correct invoices are processed. AP departments then approve the invoice before the payment is released. Automation can reduce typical invoice cycles by up to 60%.

TrueCommerce’s Fully Managed E-Invoicing solution has been designed to overcome the pitfalls associated with processing invoices from your entire supplier base and automates the Accounts Payable procedure. It’s estimated that 15 people are involved in AP processes, TrueCommerce’s system has been built to alleviate businesses of cumbersome paper based tasks and free up internal time and resources to be invested in more value-added activities.