Invoice processing automation

Larger organisations are recognising that manual processing for the Accounts Payable (AP) function is susceptible to inaccuracies and consumes a considerable amount of time. Moreover, the Accounts Receivable (AR) function is under pressure to meet the emerging invoice automation requirements across Europe. In this blog, we explore how invoice processing automation supports these functions, leading to enhanced efficiency, productivity, and overall improved ROI.

In summary, you’ll learn:

Invoice processing automation refers to digital solutions that can transform account functions. This technology is commonly known as eInvoicing, but many other similar terms are also used.

Digital transformation of the finance department removes repetitive manual processes. Therefore invoice processing automation is incredibly beneficial for individuals working in these teams. This applies to both AP and AR functions within the finance department of any organisation. We cover the key advantages in more detail below…

As mentioned above, invoice processing automation provides helpful support for the AP and AR functions.

We offer a choice of two invoice processing automation solutions: AP Automation and AR Automation. Both solutions assist these accounts functions overcome different obstacles.…

Automation supports every step involved in AP invoice management, from the initial receipt of an invoice to the processing of payment.

Ultimately, AP automation dramatically improves efficiency by enabling all parties to eliminate roadblocks and speed up payments.

In fact, a report by Atradius UK in 2018* found that two-thirds of suppliers achieved faster payments after the adoption of invoice processing automation. In addition, they maintained healthy cashflows by minimising the costs of managing their supply or distribution networks.

Plus, you can free up internal resources to focus on more revenue-generating activities and customer services.

At Transalis, we make it easy for your trading network to share invoices with you. AP Automation does not require your trading network to have eInvoice capability. They can send invoices in any format (scan, EDI, PDF, etc.) – we will digitally translate and route them to your chosen business application!

Governments and public sector organisations across Europe and further afield have been advocates of invoice processing automation for many years. So much so, eInvoicing for the AR function is rapidly becoming an international requirement for tax and customs compliance.

To elaborate, here are a summary of key eInvoice mandates in Europe:

Therefore, businesses wishing to trade internationally risk missing out on contracts if they do not have an AR eInvoice solution in place. Implementing AR automation is essential to remain compliant with increasing eInvoice mandates and stay ahead of competitors.

If you are interested in compliance, AR Automation is the right eInvoice solution for you. To expand, we are a PEPPOL-accredited provider. Thus, we comply with the highest EU standards for European trade with the private and public sectors.

Here at Transalis, we value transparency. In fact, you can use our handy calculators for AP Automation and AR Automation to discover your costs. Alternatively, you can book a meeting to discuss the features you require and the breakdown of the overall price.

Furthermore, rest assured that there are no hidden fees with any Transalis solution, unlike other providers that charge using Value-Added Network (VAN). To elaborate, a VAN sets a cost for sending messages and data loads, with penalties for breaching a limit within a specified period. We don’t think it’s fair to charge for a business’s success, so our solutions have no VAN charges.