That's the premise of an upcoming report from The Accounts Payable Network (TAPN), "Beyond EDI - The Smart Invoice Network to Collaborate with All Suppliers and Eliminate Exceptions to Drive Global e-Invoicing." The TAPN
report sets up the challenge facing AP in this way: "The often-delayed arrival of a paper invoice triggers a chaotic series of events required to track down, verify and approve purchases already made." It goes on to say "for most organizations, that process continues to be driven from the wrong end."
The report examines the current invoice process for most organizations, and the many problems that arise with a "backwards process." They include long cycle times, missed discounts, failure to record accounting liabilities in the correct accounting month, and more. In contrast, it explains how a smart invoicing process automatically validates invoices up front to prevent the proliferation of "dirty" invoices in AP and eliminate much of the cost associated with invoice processing.
The report also examines the larger procure-to-pay process, and provides tips for how procurement and AP can work together to drive cost savings, process improvements, and better management of working capital.
If you would like a copy of the report, send an email to me at firstname.lastname@example.org and I will send it to you once it is available.