E-invoicing Success: Part II
Discover how your business can achieve e-invoicing success by understanding the implementation and future opportunities it brings.
In the invoice processing cycle, there is a high proportion of repetitive and time-consuming tasks, for both issuers and recipients.
- More than 90% of all invoices worldwide are still processed manually
- E-invoicing reduces the proportion of manual exception handlings to a rate of 20%
A Virtual Workforce
- 50% of back-office processes are expected to be substituted by Robotic Process Automation (RPA) solutions in the coming years
- Robots replicate the actions of a human, such as entering data into a system
- By 2024, the global RPA market is expected to achieve a size of $8.75 billion
30% of all invoices are treated as exceptions resulting in very high processing costs
Tip: process invoices in a shared service centre to improve efficiency and substantially reduce processing costs
- Electronic document distribution makes it easier to find individual documents for audits or customer queries
- Late detection in invoice errors on hard copies results in delayed payments
- Compared to paper invoices, e-invoicing results in cost savings of 80%
“We’re already seeing a cost saving into month five of the project, so we’re very happy!” – Peak Cashflow