Centralisation and automation of AP processes can significantly improve transparency, PO matching, cash management and forecasting. E-invoicing also enables real-time visibility of inbound invoices.
E-invoicing offers efficient tools and features for small suppliers and these solutions provide a vehicle for standardisation of invoice processing.
E-invoicing provides data validation and invoice rejection at an earlier stage helping to eliminate invoice exceptions and reduce follow-up costs.
AP automation and e-invoicing accelerates invoice processing and approval time, and enables pre-requisites to exploit the potential from offering discounts.
E-invoicing provides guaranteed data accuracy, ensures country compliance standards are adhered to in real-time, and eliminates exception handling.
Automating AP processes means customers can look after themselves and updated their master data. A combination of alerts and self-service gives customers the ability to update information when required or following a particular incident. An automated workflow triggers requests for information or additional validation.
E-invoicing as part of a process automation journey reduces costs and improves management of working capital. The sooner invoice data is validated, the sooner invoices are sent, received and paid. E-invoicing promotes real-time data validation.
Increase the amount of PO based invoices and reject invoices that don't match the PO. You can provide POs in an electronic format or as a structured data file. The supplier can then flip the PO straight into an invoice. This completes an electronic loop for orders and invoices which benefits both suppliers and buyers.
The centralisation and automation of AR processes can significantly improve the chances of optimised cash management and forecasting. E-invoicing supports automated payment reconciliation closing the electronic loop from invoice to payment.
50% of calls to customer service centres at companies with large volumes of invoices are from customers requesting invoice status or with invoice-related questions. Electronic bills and invoices mean customers take care of themselves.
The sooner an incorrect invoice is flagged, the sooner it can be corrected and the sooner payment is made. E-invoicing provides real-time data validation so both trading parties can work efficiently.
E-invoicing enables a central outbound and inbound gateway, aggregating all invoices, improving transparency for finance teams.
Many businesses find moving from in-house, fixed cost models to Software as a Service (SaaS), white label or network services enabling agile business operations.
E-invoicing helps businesses to stay tax compliant by providing guaranteed data accuracy.
E-invoicing, automated workflow and archiving solutions enable real-time monitoring of the invoice process helping businesses maximise working capital.
Consider the amount of paper wasted on the invoice process: the invoice itself, the envelopes, stamps, and any documentation. Multiply this by day, month, year and you see the size of your paper mountain.
To find out what this really means, use the calculator below to see how you can make a positive impact on the environment by switching to e-invoicing with Tungsten.
Number of invoices you receive each year