Efficient, Automated Processing of Paper and Electronic Invoices
On average, studies show that organisations spend between £4 and £10 to pay a single invoice – a sum that includes the cost of handling, receiving and verifying invoices, approving payment, and generating a paper check. Only through automation can firms realise true operational benefits and cost savings. And the evidence is clear: a recent IOMA study indicated that when firms reported an increase in their level of automation, they were able to cut nearly two full days off the time required to process an invoice. The same IOMA study highlighted a similar trend in AP staff productivity. In terms of payments made per month by PO/invoice per staffer, the number increased from approximately 2,200 to 2,700, and then to more than 3,200 when moving from low to medium, and then to a reported high level of automation.*.
Greater Visibility, Control and Compliance
Sprinter Invoice Manager has been uniquely designed to help organisations realise these efficiencies, and is part of a modular solution suite proven to reduce costs, and increase both visibility and control within accounts payable. With Invoice Manager, organisations can receive, match, validate, approve and forward invoices for payment online – using Bottomline's Invoice Data Capture service or an in-house capture solution to first transform paper invoices into clean, electronic data files.
Through automated workflow, Sprinter Invoice Manager delivers straight-through processing of validated invoices and gives organisations unprecedented, real-time visibility into transactions flowing through the accounts payable process, while maintaining auditable records on every invoice. This level of paperless workflow also facilitates the rapid resolution of discrepancies by freeing AP staff to focus on handling disputes and exceptions.
Visibility into Invoice Status Yields Unprecedented Savings
Because Sprinter Invoice Manager speeds the invoice approval process, clients can take advantage of early settlement discounts and avoid late payment penalties. As a result, invoices and payments are processed quickly and accurately, reducing an AP department's operating costs by as much as 80 percent.
*IOMA's AP Department Benchmarks & Analysis 2005
sprinter invoice manager |
sprinter purchasing manager |
invoice data capture
