8OCTOBER 2021E-invoicing Trends: Go Further, Faster and Freer By Monika Bocianowska, AP Global Process Owner Director, CotyBrian Tracy wrote: "Time is money; continually look for ways to do things faster & better". Companies are looking for solutions to speed up the AP process and reduce manual effort spent on repetitive administrative tasks like managing invoices. Every touch to an invoice increases costs associated with processing the invoice and accuracy in handling and payments. The mission of process simplicity and cost reduction will be accomplished when invoice processing will be touchless. Go further, faster and freereliminating manual effort.Challenge for global enterprisesMany suppliers still present their invoices via paper or as a PDF attachment in an email. These delivery methods require a great deal of manual processing, storage, and retrieval of paper invoices and related documents, including scanning, invoice data verification, and exception management. We do invest money in technology and introduce supplier networks, portals, and EDI solutions, based on supplier relationships and transaction volume, but still we cannot eliminate the paper invoices without specific government regulations. This switch to electronic IN MYOPINION
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