PDF invoice processing is the conversion of PDF invoices received from suppliers into a standard digital format which can in turn be processed in the same way as electronic invoices received via EDI.
In terms of invoice processing it’s often the case that 20% of a company’s suppliers are responsible for 80% of the workload. A PDF invoice processing solution enables companies to instantly accept digital invoices from all their suppliers, regardless of their size or technical capability. This approach enables companies to incorporate the long tail of suppliers who do not have an e-invoicing solution into their e-invoicing initiative, maximising the benefits of electronic trading.
Benefits of PDF Invoice Processing
- Increase the speed and efficiency of invoice processing
Over 10% of AP Departments' time in the UK is spent on reentering invoice details into a business’s ERP. A PDF invoice processing solution lets you digitise supplier invoices and convert them into a standard format ready for processing. This removes the need for manual processing and the rekeying of data which can be a considerable drain on resources in terms of time and cost.
- Make it easier for your suppliers to send electronic invoices
With TrueCommerce PDF invoice processing solution, suppliers simply send PDF invoices to a specific email address. Invoices sent to this address are converted into a standard format and processed like any other digital invoice. They do not need to have an EDI or e-invoicing solution or have internal IT resources – they simply continue sending PDF invoices with no change to their processes.
- Redeploy resources to other business critical initiatives
On average, a company receives 323 invoices every month handled by around 15 employees per invoice who are responsible for approving and processing them. A PDF Invoice Processing solution lets you remove the need for numerous AP personnel rekeying PDF invoices and resolving queries by allowing the TrueCommerce service to automate this manual process. Your AP teams can then be redeployed to more strategic projects.
- Increase the accuracy of invoice processing
The Accounts Payable Association estimate that around 3.6% of invoices manually entered include an error caused by data entry. With PDF invoice processing the errors caused by manual processes are eliminated. As part of the TrueCommerce PDF invoice processing solution our teams of specialists will define and set up conversion rules and proactively monitor the platform to verify that invoices have been converted correctly, and corrective action is taken for any that fail
Watch our video or download our information pack to find out how you can easily start to accept, convert and process PDF invoices. Alternatively to find out more about the TrueCommerce PDF Invoice Processing solution, please get in touch.
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