We have all seen or been conscripted to participate in those processes in invoice document management which just don’t make any sense
It’s about the process, not the gadgets. The first step in making things better is to turn your formal and informal processes into business rules
Scott Pezza and William Jan, the authors, describe Best-In-Class performance with three metrics: 4.1 days to process an invoice from receipt to approval $3.34 average cost to process an invoice from receipt to approval 90% capture rate for available early-payment discounts They attribute automation as one of the key factors in all three metrics
It is a document-driven process, whether the invoice comes by mail, by email or as a Web download. And in two-thirds of companies, it is mostly a manual process
Certain invoice types have very specific methods for processing, making them a different document type all together...Find that business process that mandates you collect line items. In your current process are you having line items entered?
The other side of the coin is complex installations that are integrated with business processes – this is not just a question of plugging together a few tools, this is right up there with any other complex IT project – the decision is do I build or buy
The United States and Greece have mandated the E-invoice processing solution...The recommendation said “the Government should increase the automation of services – Automate processes to improve the interactions between people, business and government