Many organisations are missing a trick by not leveraging invoice automation in their day-to-day Accounts Payable (AP) processing.

Invoice processing can be an arduous task, especially when all this processing is done manually. The time-consuming rekeying of data and the subsequent delays due to errors have almost become factored-in components of the task. By leveraging invoice automation, businesses have the benefits of significantly reducing time spent on manual data input, therefore increasing accuracy and reducing AP overheads.

Transforming your invoice processes

Our recent report demonstrates how automating invoice processes can transform business efficiency

Transforming your invoice processes

Invoice automation benefits

Some of the benefits of adopting invoice automation are already well established.

As stated earlier, the automation of invoice processes significantly reduces the time that AP teams spend on manual rekeying data. This allows them to focus on higher value projects and increases the accuracy of invoice data, due to minimal manual intervention.

As a result, organisations are adopting invoice automation at pace. In fact, Billentis* reports that the volume of eInvoice exchanges is expected to quadruple by 2035.

Our recent report: Transforming Your Invoice Processes, highlights that switching to automated invoice processing can save businesses 60% on average over manual processing.

We were also able to demonstrate this cost saving benefit in the report, by using our client case study of AG Barr. AG Barr were able to realise savings totalling £200,000 in the first year of going live with Transalis eInvoice™ Automation.

There’s another equally compelling reason for businesses to automate invoice processing, beyond commercial savings…

International eInvoice requirements

This increase in the implementation of eInvoice solutions is also being seen internationally.

Governments worldwide are turning to eInvoicing to close their respective VAT gaps. Many countries are now mandating eInvoice capabilities when trading with businesses and/or governmental bodies in the country.

For example in 2021, France announced that by 2023 all French businesses will need to submit digital invoices via a central platform. This system allows for the amount of VAT to be correctly calculated for collection by the tax authority.

France is just one of many European countries planning to mandate digital invoice submission. This is commonly referred to as Real Time Reporting (RTR), which helps to close the VAT gap.

One of the early adopters of RTR was Turkey.

Invoice automation case study

RTR: A client case study

Our client in the Health & Beauty industry leveraged eInvoice Freedom for this purpose.

This particular eInvoice bundle provides a customisable solution that can automate invoice processing and ensure compliance with the cross-border regulations in Turkey.

We implemented a solution for the client which focused on providing their suppliers with a simple and frictionless way to submit invoices via an online platform.

  • Once an invoice is uploaded, an automated process begins by routing the einvoice to the Turkish tax authority for approval.

  • The approved eInvoice is then configured to the correct format and transferred directly into the client’s AP application.

The client ensured compliance with local tax requirements and removed manual processing thanks to our solution, which ultimately delivered significant savings on AP overheads.

Transalis eInvoice™

Our suite of eInvoice solutions provide organisations with the peace of mind that they have made their invoice processing more efficient, accurate, and compliant.

As mentioned above, eInvoice Freedom allows clients to build a customisable solution to suit their unique business needs. Whether that involves compliance with international regulations, digital document standardisation (also known as paper-to-digital), or invoice matching.

eInvoice Automation focuses entirely on automating the previously manual conversion and rekeying of invoice data into the preferred format for the client. Particularly suited to organisations processing 2000+ invoices per month, eInvoice Automation digitises paper and other invoice formats into a digital file and transfer them to your system(s).

Visit our eInvoice Automation calculator to see how much you could save.


eInvoice Software

To talk about your invoice automation requirements contact our team on 0845 123 3746 (calling from the UK) or +44 1978 369 343 (for international callers), or via email sales@transalis.com.

References:

*Billentis: The development and future of eInvoicing from 2019 to 2025


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