Today’s enterprises are forced to become ever more agile. That is why it is so important to automate business processes. Especially with respect to the automation of business processes, our years of experience show that deadlocks can arise out of internal resistance, while paper processes continue to hold back day-to-day operations. Many fear that their company will not be able to overcome these hurdles and therefore expect automation to be a major challenge. But it doesn’t have to be!
MORE THAN JUST AN ELECTRONIC EXCHANGE OF INVOICESWhen it comes to digital invoice data exchange, you can quickly, easily and efficiently achieve successes with compacer’s e-invoicing solution – after a relatively short project duration of only 4 months! With e-invoicing, we can monitor the entire purchase-to-pay or order-to-cash process, both for the billers (suppliers) and for the recipients (customers), as both have different objectives.
Your powerful lever to increase efficiency.
There are a lot of strong reasons!
NO MORE PROCESSING ERRORS
As soon as all relevant invoice data are transmitted digitally, errors that regularly arose out of the manual acceptance, entry and processing of data simply vanish from the scene. Error-prone and costly transmission and processing procedures are replaced by automated, safe and resource-saving electronic processes.
Thanks to automation, costs caused by media breaks, faulty (manual) transmission of information, time-consuming coordination and authorisation processes or slow and failure-prone processing procedures are significantly reduced. A consistent implementation will let you save up to EUR 10 per document in process costs, that is, in data collection, manual verification, handling, printing, postage and archival.
Each step within the process is now secure, traceable and verifiable, so that you can check the status of any given document at any time. For example, you can get notified when invoices are received or you can monitor delivery periods. This not only helps you to improve the communication with your business partners, but it provides all interested parties with actionable transparency.
INVOICE RECEIPTDistributed invoice receipt in companies with a high volume of invoices.
DATA COLLECTIONAlerts on wrong or missing supplier and customer master data, monitoring of costs for data collection & updating.
DISCOUNTS & REMINDERSEarly payment discounts are often missed due to time constraints, and time constraints are also the primary cause for reminder fees.
PROCESSINGThe manual processing of invoices is time-consuming and often creates a backlog of unprocessed invoices. Often, the context of orders, order confirmations, delivery notes and invoices is unknown.
MANUAL DATA ENTRYEntering and posting the data manually leads to high error rates.
APPROVALManual approval systems are tedious and often not fully verifiable, as responsibilities and representatives are not clearly defined.
TRANSPARENCYA lack of process transparency increases the number of queries and complaints to the Accounts Payable department.
MAVERICK BUYINGA lack of control in the ordering process increasingly leads to maverick buying, a purchasing behaviour that bypasses company-wide procurement and thus misses out on bulk prices and special supplier deals.
One simple solution.
High monthly costs from incoming invoices were posing problems due to a lack of resources and procedures, leaving almost no room for a flexible exchange of billing data with suppliers and partners. In particular, however, the manual effort of receiving invoices was forbiddingly high, very error-prone and just as costly as it was paper-laden. Processes needed to be automated to provide an advantage that extended to the supplier side. The lack of transparency and monitoring during invoice processing was a major topic, as was the paper overload of incoming invoices.
The goal was to use our e-invoicing platform to create and leverage efficient, highly automated work processes while connecting the largest partners first and laying the foundations for adding additional suppliers and partners later on. The integration now guarantees that invoices are received in a compliant, automated and digital manner and that they can be automatically archived. The error rate of manual entries has decreased to nearly zero thanks to EDI-based accounting