Organisations have discovered solutions that can save them from the expensive and resource draining process of receiving invoices manually – and then having to match them with purchase orders, receipts and other records ready for payment.
With electronic invoicing, they can receive invoices across a range of formats and process them at blistering speeds. A high percentage of the invoices can be matched accurately and passed for payment automatically.
As a result, a huge workload is lifted from their teams. At the same time, many also save money – by avoiding paying incorrect or duplicate invoices, and by paying correct invoices on time and qualifying for any discounts.
True stories from PROACTIS customers...
One of the UK's largest local authorities
, processes around 135,000 invoices electronically every year. They spend around £930m each year on goods and services from 15,000 suppliers. About 40% of these transactions can be processed through its corporate eProcurement solution and the council currently receives 190,000 invoices per year.
One of the UK’s largest direct suppliers of tools
, accessories and hardware to tradesmen, maintenance and repair organisations, and serious DIY enthusiasts, with a turnover in excess of £500 million, has been able to reduce costs and grow its business without growing its invoice processing resources, since the introduction of electronic invoicing.
One UK local authority
introduced electronic invoicing and managed to achieve an 80% reduction in the cost of transactions. Some invoices cost less than £1 each to process. Fewer staff resources are needed and the system regularly flags up invoice errors and blocks over-payments worth hundreds of pounds at a time.
One of the UK’s leading independent health and social care providers
introduced electronic invoicing and has seen efficiency levels increase by 65% as well as a 41% reduction in processing costs. The company operates around 450 care homes and 60 hospitals and specialist care centres, handling around 310,000 invoices per year.
A leading European logistics specialist
has embraced document and data capture with a single solution for paper, PDF, fax, email and XML documents. This has streamlined processes and simplified the receipt of information into the business. The result has been a 35% decrease in processing costs and increased the transparency of their POD documents – in turn driving down debtor days.
A housing and social care provider,
that repairs and maintains the homes of hundreds of thousands of people across the UK, has trebled the number of invoices it can process through the same sized team, thanks to solutions that handle invoice data capture and electronic invoicing.
To find out more visit our Invoice Data Capture page.
Or alternatively, read the final article in this series titled 'Savings #5 - What happens if... I keep doing all of this, all of the time?'