So many organisations are still missing out on the benefits of eInvoicing.
These businesses continue to suffer at the hands of manual invoicing processes within their AP (Accounts Payable) and AR (Accounts Receivable) teams.
Save an average 60-80% over manual processes with electronic invoice processing.
All businesses require accurate, fast and cost-effective invoice processing. Inefficient invoice processes hinder cashflows, supplier relationships, and business operations. All of this damages the potential for business growth.
Luckily, einvoicing solutions can automate your AP and AR invoice processing. Here are five key benefits of electronic invoice processing below.
eInvoicing benefits: cost savings
One major benefit of electronic invoicing is the cost saving over manual processing. Research suggests that electronic invoicing solutions achieve an average 60-80% ROI. This is how…
Your finance team no longer need to input data manually. This dramatically reduces labour costs and means the AP and AR functions can concentrate on higher-value projects.
Digital invoice processing is greener. No printing, scanning and filing of invoices means the paper and storage costs are dramatically reduced.
Fraud is easily identified. Automated invoice solutions spot duplicate invoices and you’ll be able to challenge incorrect late payment fees more confidently.
The cost-savings provided by einvoicing are easily demonstratable with a paper-to-digital solution, such as AP Automation.
This invoice management software converts all inbound invoices into compliant formats and then pushes them into the relevant business systems. Avoiding all the rekeying of data involved with manual Accounts Payable processing. The solution also provides a dedicated einvoicing platform to manage exceptions.
Use the AP Automation calculator to find out how much your business could save by switching from manual to automated invoice processing.
Electronic invoicing is more accurate
Studies suggest up to 5% of all manually entered invoice data is typed incorrectly. That’s a huge handicap for any company aiming to be more efficient with their invoice processing.
With our einvoice solutions, however, the process is totally automated, so there’s no opportunity for human error. This enables a fully automated flow of invoice data between supplier and trading partner, with no human intervention.
Real-time, highly accurate invoicing data also gives your business a clearer idea of your cash position. This enables you to make better strategic decisions.
eInvoice Country Directory
Are you trading across multiple countries? Does your invoice processing need to stay on top of changing in-country regulatory compliance and RTR? Transalis eInvoice™ gives you the power to trade frictionlessly and efficiently across global supply chains.
eInvoice Country Directory
Are you trading across multiple countries? Does your invoice processing need to stay on top of changing in-country regulatory compliance and RTR? Transalis eInvoice™ gives you the power to trade frictionlessly and efficiently across global supply chains.
Automated invoice processing is more efficient
Typically, 30-35% of larger companies still manage invoices in a decentralised way. Almost all of these companies use several ERP and accounting systems. This eco-system is incredibly inefficient and does not give financial managers transparency over the number, total value and status of invoices.
Digital invoice processing solves these inefficiencies. It centralises invoice management and processing. It also gives accounting colleagues the transparency they need. Bottlenecks in the invoice-to-cash cycle can be identified and resolved more efficiently.
More efficient and transparent invoice processing also means you have a full audit trail.
An electronic invoice processing system is faster
With an einvoicing solution in place, it is running 24/7. Therefore all invoices are processed the moment they are received. So, there’s no waiting around for office hours for the finance team to process them manually.
Plus, thanks to standardisation, electronic invoices are consistently accurate. This means fewer exceptions, disputes and other approval delays. This also leads to a significant reduction in debtor days. Ultimately einvoicing gives organisations a more favourable liquidity position.
Transalis eInvoice™ delivers regulatory compliance
Real-time reporting (RTR) is now a statutory requirement in many countries. Transalis AR Automation is RTR ready, further reducing complexity and time with your existing processes
Transalis’ archive feature date-stamps all invoices at the point of issue. This dramatically reduces the time and money you spend on manual processing and archiving. Auditing is also much faster and cost-effective because, once auto-archived, invoices can be searched and retrieved in seconds. This archive facility is included as standard in our AR Automation solution.
Why eInvoicing from Transalis?
Transalis is a specialist provider of eInvoice solutions that enable companies to digitally and instantly exchange and validate invoices more efficiently and cost effectively.
You can trust in Transalis to deliver a robust, secure and regulatory compliant eInvoice cloud-based platform that guarantees to give you and outstanding ROI.
What is eInvoicing?
eInvoicing is the digital and automatic exchange and processing of invoices with your supply chain trading partners. There’s zero paperwork and admin staff no longer need to manually re-key data from invoices into purchasing or finance systems, increasing efficiency, saving money, eliminating errors and ensuring your business stays compliant.
Why eInvoicing from Transalis?
Transalis is a specialist provider of eInvoice solutions that enable companies to digitally and instantly exchange and validate invoices more efficiently and cost effectively.
You can trust in Transalis to deliver a robust, secure and regulatory compliant eInvoice cloud-based platform that guarantees to give you and outstanding ROI.
What is eInvoicing?
eInvoicing is the digital and automatic exchange and processing of invoices with your supply chain trading partners. There’s zero paperwork and admin staff no longer need to manually re-key data from invoices into purchasing or finance systems, increasing efficiency, saving money, eliminating errors and ensuring your business stays compliant.
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