Matching a purchase order (PO) to an invoice is a longstanding accounts payable (AP) best practice for processing invoices and ensuring compliance. Yet most organizations also have some portion of spend that does not involve POs, making effective processing of non-PO invoices crucial as well.

 

By automating invoice processing, organizations can effectively implement a wide array of best-practice strategies that transform the efficiency of AP operations—enabling them to compress PO and non-PO invoice processing from months or weeks to days or hours, eliminate exceptions that require manual resolution, remove virtually all non-PO manual touch points, and expand the capture of early payment discounts to every invoice.  Companies that continue to rely on paper-based methods face extensive challenges that make it difficult or impossible to process invoices effectively. As a result, they can't achieve substantial time and cost savings that can improve their bottom line.

 

Regardless of invoice type, a major challenge facing many AP departments is coping with the rising volume of paper invoices.  It’s no surprise that implementing e-invoicing is a top automation goal. This is a big change from several years ago, when companies were still focused on improving paper processes rather than eliminating paper at its source—their suppliers. 

 

Fix all that with electronic invoicing from Ariba. Enabled by the Ariba Network, with nearly one million participating companies, Ariba’s is a true smart invoicing  solution. Ariba’s solution validates invoices and handles mistakes and exceptions before they reach your ERP or back-office system. Only correct invoices are posted to your payables system, for payment according to your cash management strategies. With Ariba Invoice Management you can…

  • Shorten approval cycles and improve productivity
  • Eliminate 70 percent or more of related costs
  • Improve discount capture by more than 100 percent
  • Enhance visibility for buyers and sellers
  • Enable participation for all suppliers
  • Comply with global VAT and regulatory requirements

 

For additional reading on Smart Invoicinghttp://www.ariba.com/solutions/manage-cash/invoice-management