Wasting resources on boring and mundane tasks is a huge waste of people and money. Tasks often look simple, so we throw lesser skilled employees at the task. But, they soon become the experts in the mundane task, ad more critical to your business. The task can also expand to fill the role.
Invoice Processing is such a task. It could not be easier to read a file and enter the details into an accountancy application. Until you start to analyze the real details and flow of information. What causes delays, where are the bottlenecks? Who is making real business decisions on the invoice journey through your business?
How do you receive invoices?
- By Email
- By Fax (surely not..)
- By Post
- Via other electronic transfer
The most typical is via Email and normally as an attached PDF.
But, what happens to the email attachment? In the worse case, they are printed out and manually reviewed and typed into the accounts application. If there are questions they are passed from the low skilled data entry on to management. Should an invoice be paid? Who should authorize the invoice? Did the goods or service arrive?
What are the benefits of invoice automation?