Invoice Processing

The Invoices

The cost of processing an invoice is a key metric for evaluating accounts payable overhead for any business. Multiple studies have been conducted on the average cost of processing a single invoice and while the results varied, the conclusions were almost identical.

Manual

For a complete manual process, the cost per invoice (CPI) ranged between $15 and $27, considering the cost of data entry, verification, matching to PO, review, approval, posting and final storage.

Automated

Using an automated invoice processing solution, the cost per invoice ranged between less than $1 (if posting and payment are part of the process) to about $3.50 if posting is a separate process.

Intelligent Invoice Automation

Is a solution for fast, transparent, and secure processing of inbound invoices. The solution covers the reading, review, approval and posting of invoices and simplifies controlling.

The solution enters each received invoice in the invoice ledger and automatically starts a multi-level review workflow. This workflow can be customized to meet the needs of your company. The status of the invoices and the entire process are always completely transparent.

Intelligent Invoice Automation starts with 10,000 invoices/year and comes with two license types

Power licenses

Offers a full control of ingesting and processing invoices

Lite licenses

Allows participants Review and Approval abilities

The advantages:

Improve profitability
Improve liquidity planning
Improve resource utilization
Stay compliant
Invoice status at a glance
Find emails, quotations, orders, etc. in the invoice context
For all formats: paper, PDF, XML, XRechnung, ZUGFeRD 2.0, etc.
Supports a wide range of currencies and up to 13 languages
Account assignment information, such as the cost center or G/L account, is determined automatically to support accountants in selection of an account

Boost team productivity
Shorter processing times, higher quality
Lower costs
Automatically post invoices (for Invoices with PO references)
Transparent digital invoice ledger
Automatic reminders for review and posting deadlines
Deep integration with SAP & connection to any ERP & financial accounting system
Integrated data warehouse with extensive reports
For invoices with & without a PO reference (including automatic posting), single, partial, collective & final invoices

Invoice Automation

The Invoices

The cost of processing an invoice is a key metric for evaluating accounts payable overhead for any business. Multiple studies have been conducted on the average cost of processing a single invoice and while the results varied, the conclusions were almost identical.

Manual

Automated

The automated solution

Intelligent Invoice Automation

Power licenses

Lite licenses

The advantages:

Improve profitability

Improve liquidity planning

Improve resource utilization

Stay compliant

Invoice status at a glance

Find emails, quotations, orders, etc. in the invoice context

For all formats: paper, PDF, XML, XRechnung, ZUGFeRD 2.0, etc.

Supports a wide range of currencies and up to 13 languages

Account assignment information, such as the cost center or G/L account, is determined automatically to support accountants in selection of an account

Boost team productivity

Shorter processing times, higher quality

Lower costs

Automatically post invoices (for Invoices with PO references)

Transparent digital invoice ledger

Automatic reminders for review and posting deadlines

Deep integration with SAP & connection to any ERP & financial accounting system

Integrated data warehouse with extensive reports

For invoices with & without a PO reference (including automatic posting), single, partial, collective & final invoices