For years, many organisations have been puzzling over how much they could save by automating their Accounts Payable (AP) processes. The industry is awash with hype and big claims. But these can be based on optimum conditions rather than the messier realities of dealing with multiple suppliers, invoice formats and process requirements.
However, it's now possible to get a realistic headline figure, based on evidence from actual customer stories involving millions of invoices.
You don't need a three-day workshop to get the answer. In fact, it's faster than checking your Facebook notifications or fixing a coffee. In fact, you'll out-sprint the world's fastest 100m runners. You can find out your potential savings in less seconds.
Simply try the Invoice Processing Cost Reduction Calculator
PROACTIS will crunch the numbers for you, based on the quantities of invoices you process, the size of your AP team and how many people input data manually. The result is an indicator as to whether electronic invoicing is worth pursuing for your organisation.
What does your result mean?
- If the potential savings opportunity is less than 10% then you might wonder if electronic invoicing can wait for another day. If so, you may be right. Instead you may choose to turn your attention to other spend control initiatives e.g. purchase order compliance, risk mitigation, supply chain finance initiatives etc.
- If the figure is 20% or more, then the business case becomes extremely compelling. It's worth pursuing as a priority.
- If the potential savings are more than 50% then electronic invoicing should be very high on your corporate agenda, especially if you're processing more than 40,000 invoices annually.
If your score fits into that 20%-100% range, you may be alarmed. But you're not alone. A shockingly high number of organisations are finding out what they could be saving. Of course, it's actually good news. With a proven solution, you can turn that percentage into hard cashable savings, as well as efficiency gains.
What's more, the journey may be simpler and faster than many organisations realise. Here is some interesting back-ground information that you may want to consider:
So what was your calculator score?
Contact PROACTIS, we'd love to know. And we'll be glad to give you some expert advice on how you compare against industry benchmarks, what these might mean for your business, and your best options for what to do next.