Paying to the vendor who supplies good or provides services is the basic and one of the most important business functions in any organization. This function is the part of core Procure to Pay or Purchase to Pay (P2P cycle) and is taken care in Accounts Payable Department. If Suppliers are paid on time, it directly or indirectly supports supply chain management and warehouse department and ensures production on time and thereby increasing sales revenue.
Major activity in P2P Process is Vendor Invoice processing and ensuring vendors are paid on time)
Electronic invoicing (e-Invoicing) is the exchange of the invoice document between a suppliers and a buyer in an integrated electronic format. Traditionally, invoicing, like any heavily paper based process, is manually intensive and is prone to human error resulting in increased costs and processing lifecycles for companies.
Digitized images of invoices based on formats such as PDF. The greatest benefit with this type of e-invoice is simplicity. The sender sends an image of the invoice as an email invoices attachment. The receiver can process the e-invoice using the same procedure as with regular, paper.
It helps us to approach a new client with fully automated accounts payable solution. It also helps us as follows:
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