What is invoice automation?

Invoice automation is the management practice of using technology to replace manual effort in your processing of invoices. Taking a digital approach, eInvoicing helps your accounts department streamline repetitive processes, so minimising costs and boosting efficiency.

Automation can support every step involved in invoice management, from the initial receipt of an invoice to the processing of payment.

Without automation, there is always the risk of human error creeping into the handling of invoices and leading to mistaken data entries, duplication and delays.
That’s why in a manual process much time is typically spent in the labour-intensive checking and verification of invoices. Monitoring and approval can take a lot longer if there is any hitch along the way.

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Invoice automation: improving accuracy and compliance

Invoice automation on the other hand can help you build more accuracy into your trading data capture and retain end-to-end workflow information for audit trails.
Compared with paper-based systems, the electronic exchange of invoices can reduce costs by up to 80% and improve security, regulatory compliance and auditing time.

Thanks to our handy ROI calculator, you can go online right now to check your potential savings from switching to a digital solution. Visit https://www.transalis.com/einvoicing-explained/why-choose-transalis-einvoice/.

By achieving frictionless invoice automation you will be able to turn round processing tasks far more quickly, freeing up your internal resource to focus on more revenue-generating activities and customer services.

This is not only good business practice – it is fast becoming a requirement internationally for tax and customs compliance, so you risk missing out on contracts if it is not in place.

Across the EU, government and public sector organisations are already required to use B2G eInvoice processing, with B2B suppliers encouraged do the same. A key aspect is real-time reporting to meet local tax visibility demands.

To begin an automation programme, you need to understand, map and analyse the tasks and responsibilities of everyone involved.

That way you can identify and bridge those gaps between where you are now and where you want better processing to take you.

Fast exchange

One of the key benefits of eInvoicing is the fast and accurate exchange of invoices across a trading network. This can dramatically improve efficiency by enabling all parties to eliminate blocks and speed up payments.

A report by Atradius UK in 2018 found that two-thirds of suppliers had achieved faster payments after the adoption of eInvoicing. By minimising the costs of managing their supply or distribution networks, they had kept their cashflows healthier.

Successful exchange of invoices relies however on your trading network having their own ability to receive and send eInvoicing documents.

At Transalis, we address this requirement directly on your behalf by making it as easy as possible for your trading network to share invoices with you.

We offer a choice of four eInvoice product bundles based on the number of trading connections you have and the support needed to get partners onboard.

  • You can have as few as ten connections to get started
  • you can benefit from tiered levels of support
  • You will have a dedicated success manager to ensure a smooth transition to your automated eInvoice environment.

Onboarding partners

Whichever bundle is ideal for you, our trading partner outreach communication programme will guarantee a higher adoption rate of your trading network than other eInvoicing providers.

That’s because our customer success team work hard behind the scenes to establish a connection with as many of the companies within your trading network as possible.

We offer them access to a web portal, eInvoice Lite, and our Transalis Hub Connector enabling them to upload and download digital invoices even if they don’t have their own eInvoicing solution.

To smooth the onboarding process, we provide training sessions, support guides, easy registration, contact and document exchange testing, ‘walk-through’ support videos and dedicated account management support.

Our pricing is totally transparent

Unlike other providers that will charge you so-called ‘value added network’ (VAN) costs for sending messages and data loads, with penalties for breaching a limit in a set period.

Transalis is a PEPPOL-accredited provider

If you are doing business with partners in the EU, you can be reassured in the knowledge that you are compliant for European trade with both the private and public sectors.

If you are seeking simpler invoice automation with your trading network, isn’t it time you looked at our eInvoice product bundles to see which eInvoicing solution is best for you?

You can contact our expert team on 0845 123 3746 or +44 1978 369 343 (for international callers), and reach out via email sales@transalis.com