Time is money - this motto also applies to the processing of
invoices. Because many suppliers grant a discount of around three percent if
the invoices are paid quickly. These discounts add up to considerable savings
potential each year. The following points will help you to make the best
possible use of your cash discount potential.
Automation of your incoming invoice process
Without a solution for the automatic processing of incoming
invoices, employees need an average of up to three weeks for this. The reasons
for this, in addition to manual data entry, are primarily lengthy internal
approval processes that are handled by internal mail. Not only does this mean
that a discount is lost, but in the worst case scenario, interest on arrears is
also due. Not to mention the time employees spend on a single invoice.
Checking lead times
An automated incoming invoice software with an integrated
workflow engine enables you to monitor your processes through a clear incoming
invoice book. Additional reports help you to answer the following questions:
What are the average lead times for a vendor's invoice in a certain period of time? Can we possibly speed up our internal processes?
Are our vacation replacement regulations adequately maintained or are invoices to be released for payment on the desk of one of your colleagues and simply not processed further?
- Have invoices got stuck somewhere in the cosmos of the SAP universe and nobody noticed? Who monitors our processes and can restart documents that have got stuck in an emergency?
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