When you have implemented an ERP in your organization, it could be sensible as well as profitable to automate your invoicing system. An automated invoicing process has several benefits over a manual process and it helps save both time and money. Since most organizations of the modern times are seeking for ways of cost cutting, a paperless, automated invoicing solution could be their priority.
Advantages of Invoice Automation
Cost Reduction: A paper invoice could prove to be a costly affair. Not only does it increase the paper and printing cost, but it is less environment-friendly too. It also increases the storage costs, and the manual process requires a significant manpower involvement, which again adds to the cost. On the other hand, an automated invoicing solution eliminates the needs of storage and the invoice checking and matching process becomes rather quick and free from errors, without requiring significant human intervention. All this makes the process efficient and cost-effective as well.
Time-saving: Manual invoice processing requires a lot of time, and the AP team has to dedicate a significant amount of time every month to process invoices, whereas automated invoicing makes the task easier and saves a lot of time. It importantly reduces the time of supervising and reviewing invoices and makes the process more organized and appropriate. It speeds up the process to approve invoices in time and receive time-bound discounts and incentives.
Error-free: The manual invoicing process is often prone to errors, whereas the automated system helps maintain accuracy. An invoicing solution works with efficiency and processes invoices accurately, as per the defined parameters. The whole process becomes error-free and smooth and it helps avoid the chances of monetary losses as well, by detecting the errors or issues such as duplicate invoicing.
Saving Man-Hours: Automated invoicing is not as tedious as a manual process. Thus, your personnel need to dedicate less time in processing invoices. They can focus more on important tasks and this helps in improving the organizational efficiency. There is no need to check each particular of a number of invoices that you receive each month in your organization.
Green Process: The digital invoicing process frees you from using paper invoices. An automated invoicing is good for the environment, as it doesn’t consume paper, which of course saves trees and the environment.
Improved Business Relationships: Automated invoicing is a fast and error-free process. It makes the invoice approval process speedier and the payment is released in a timely manner. Moreover, there is hardly any chance of discrepancies and this helps you to maintain a cordial and professional relationship with your vendors and associates.
Thus, an automated invoicing solution has several benefits that modern organizations cannot afford to ignore. It helps save time and money and enhances the organizational efficiency. The automated process requires minimal human interferences and it doesn’t require to develop any technical competence to handle or monitor the process. The way you are operating your ERP, you can work with your automated invoicing solution in the same manner, in fact with more flexibility and greater convenience.
