There is a growing demand in today’s business environment to do much more with much less. The AP department has an enormous task handling invoices, getting approvals, preventing delays, fielding questions and processing invoices that must be promptly paid to keep the organization running smoothly. Ascend e-Invoicing solution is another configuration option to automates AP processing, speed payments, increase discounts, improves accuracy, controls and reduce costs.
The efficiency of e-Invoicing
Ascend’s SmartTouch AP solution includes an option to electronically capture the invoice from your vendor. It connects with the vendor’s billing systems to capture your AP invoice data electronically. Capturing the invoice’s data electronically ensures100% accuracy because it prevents rekeying the data or scanning and validating it. Typically, your supplier prints and mails your invoices. You must receive, open and enter the same information into your accounting system. Not only is this an inefficient way to pass information, it is also costly for you and your suppliers. A more efficient solution to handling paper invoices is with e-Invoicing, which can benefit both you and your suppliers. In return the supplier typically offers payment discounts, which are additional savings. This rapid process allows you to benefit from supplier discounts and to comply with the Value Added Tax (VAT) and other government regulations found domestically and abroad.
Reduce the paper handling, delays, data entry errors and document storage costs. Research is simplified, because electronic invoices may automatically be matched and indexed to underlying purchase orders or contracts, and may be accompanied by images and supporting attachments. You receive accurate and efficient electronic information, when you want it, and the need to handle paper AP invoices is greatly reduced. The majority of the manual intervention is removed from processing an invoice.
e-Invoicing is the ultimate “green” solution; not only does e-Invoicing save natural resources, but it saves you the effort and increases your bottom line.