Sluggish approvals
When an invoice comes in blindly, not only could the invoice sit for weeks, but then once in the queue to process, the amount of time it takes to email the purchaser and ask for approvals could be at a snail’s pace. The purchaser will either search for approvals via email or start the approval process by emailing multiple people for review and approvals. Therefore, delaying the whole payment process.
Is the invoice actually genuine?
If an invoice is received with little to no details, it’s a red flag. For instance, it’s common for a supplier to leave off supplier contact details, include different supplier names, or miss important remit details. Also, if the email with the invoice attached doesn’t include any information in the email body, then AP could very well delete it for security reasons.
Non-PO invoices can result in late payments, damaging your credibility with your suppliers. Late payments could also lead to suppliers pausing services or goods being delivered.
If you don’t have a PO policy in your process, or you don’t have the means to create POs, or you simply don’t have the time,
have a conversation with us so we can help you create a more efficient and streamlined process. In the end, we’ll ensure all (finance, procurement, buyers) are happy with the outcome.