Invoice automation and the move to e-invoicing is a common project designed to save enterprises money. Billentis estimates that both outbound and inbound e-invoicing projects reduce invoice processing costs by 60%.
It is important to note that the more trading partners that participate in your e-invoicing program, the more benefit you will receive from it. But if e-invoicing ROI is so great, why isn’t all invoicing e-invoicing?
The cost of setting up an e-invoicing program can be a roadblock. Part of that cost is enrollment or on-boarding. This involves registering all of the customers to whom you will send electronic invoices into the e-invoicing platform.
Sending thousands of invoices to a single customer is relatively easy – only that customer needs to be enrolled for e-invoicing. Sending one invoice each to thousands of customers is a completely different problem. You need to enroll each of those customers before sending electronic invoices.
Enrolling new customers can require human interaction and frequently involves several Finance and/or IT procedures. What if you could enroll your customers automatically as you process transactions? If you have hundreds of customers, this could reduce the cost of setting up an e-invoicing program by tens of thousands of dollars and save hundreds of man hours.
This is why OpenText has introduced a capability that will automatically provision many of your customers as you send electronic invoices. In this way you:
- Reduce the barriers to entry for your outbound e-invoicing project
- Reduce manual efforts (Finance and IT)
- Accelerate e-invoicing ROI by implementing your project faster
The capability reduces cost and saves time because you do not need to create procedures for manual enrollment or transfer information between systems or databases. You just send us the information about your customer at the same time that you send us the transaction.
Learn more about OpenText’s E-Invoicing solutions.