escape the invoice chaos
Into the smart incoming invoice process in SAP!
who enjoys receiving invoices?
process digital invoices transparently and with no worries
Processing incoming invoices manually means working with the handbrake on: a great deal of time is required, and the costs are high. Optimize your incoming invoices with a digital solution. Faster throughput times and a significant increase in transparency await you. You also remain legally compliant with GoBD and rely on future-proof invoice formats, such as ZUGFeRD and XRechnung. What other advantages are there? A reduction in costs of up to 50 percent.
sought – the unfathomable journey of an invoice
Processing incoming invoices is one of the key administrative processes in any business, and requires a considerable amount of human and financial resources. Invoices often have to be checked for their accuracy and approved by several people in the company. And especially when the staff involved are dispersed over different locations and documents continue to be sent by post, a manual, paper-based invoice verification process becomes a nerve-racking test. There is a risk of losing the early payment discounts and transparency. In this respect, managing the verification and approval of invoices which arrive digitally as emails often takes place manually.
the consequences: law, time, money
Incoming invoices are subject to clear regulations according to the principles on the proper management and storage of books, records and documents in electronic form, as well as those regarding data access, the GoBD, and other legal provisions. The invoice has to be documented correctly and stored securely for the next ten years – and even during this time, quick access to the previously received invoices is a must. If you continue to rely on the manual receipt of invoices, you risk overlooking discount deadlines or even reminder fees. No matter what it is: The manual processing of incoming invoices constitutes a disadvantage from the financial, temporal and legal perspectives.
ergo:
While conventional manual processing can result in long throughput times, countless copies and the inconsistencies that come with them, “never-ending” searches for invoices and overflowing filing cabinets, electronic incoming invoice processing means high processing quality, transparency, speed and the ability to access information.
Modern systems reduce both costs and risks to businesses, and make the daily work processes of the employees both more efficient and easier.
the six pitfalls of the manual processing of incoming invoices
- Where has the invoice gone? The search begins; the clock is ticking. Invoices are every- where to be seen: A problem that often results in long processing times. For businesses that have several locations in particular, this process often takes several days – with further consequences
- Costs of sending reminders may be incurred. Due to missing or delayed approvals, customers lose out on early payment discounts
- This also makes the cash flow planning more difficult: A quick overview of the pending payments is unavailable
- High costs due to an unnecessarily large number of people involved in the processing of invoices
- Additional costs for filing, archives, papers and renting space
- A clear record of the archiving history is lacking (who did what and when?) – this is only possible with more time, by attaching notes, for instance
