Power of PAYBOX®
The Benefits of an AP E-Invoicing Platform
The ability to send and pay invoices in a timely manner has a direct impact on your organization’s cash flow and working capital. If you still rely on manual, paper-based methods, invoices and procure-to-pay processes can become a serious drag on your organization’s finances.
An AP e-invoicing platform reduces the amount of time it takes to complete AP invoicing, and does so in a secure and compliant way.
The Benefits of Leveraging an AP E-Invoicing Platform
There is a host of problems with paper-based invoices. For one, they’re expensive – it can cost your organization upwards of $7 per invoice. Second, there is a higher likelihood for entry and keying errors with manual invoices, which leads to more supplier and vendor disputes.
What your organization needs is an AP e-invoicing platform to handle accounts payable processes, allowing you and department employees to focus on improving cash flow within your enterprise.
Consider these additional benefits of automated accounts payable invoicing:
- Reduced Processing Fees – Paper invoices drive enterprise operating fees through the roof. And if those invoices are lost or contain information errors, you’ll spend more money reprocessing them. E-invoicing lowers invoice presentment and distribution fees by more than 50 percent, saving your enterprise annual operating costs.
- Increased Number of Early Payment Discounts – Suppliers typically offer invoice reductions and discounts when customers pay early, which means you’ll want to settle invoices as quickly as possible. But this is difficult to do if you’re relying on paper invoices. An e-invoicing platform notifies both you and suppliers when an invoice is ready to be paid. The faster you settle, the more likely you are to continue receiving invoice discounts.
- Improved Relationships Between Customers and Suppliers – The relationships you forge with your suppliers and vendors should deliver positive business outcomes on both ends. The last thing you need is a payment dispute or unsettled invoices ruining a solid working relationship. AP e-invoicing platforms streamline communication and simplify in a way that provides benefits for both parties. By minimizing disputes, you’ll maintain positive relationships with your vendors and suppliers for years to come.
Ready to introduce automated AP invoicing to your organization?
Meet PAYBOX® AP.
An innovative e-invoicing platform, PAYBOX® AP offers top-tier e-invoicing services for large enterprises that are tired of getting bogged down with paper-based solutions. In addition to more reliable invoicing services, PAYBOX® AP also results in fewer supplier disputes, accelerated invoice approval and improved visibility into liabilities.
Interested in learning more about how Direct Insite’s AP e-invoicing platform can benefit your business? Contact us today.