Accounts Receivable Automation

Invoicing is not an option, it is a requirement!

From an operational standpoint, an invoice creates a lien between the buyer and seller for goods or services rendered. In addition, it is a support tool driving a business.

From a legal standpoint, an invoice satisfies requirements set forth by countries or within specific trades. In addition, it is a support tool for the collection of sales tax.

The way an invoice is processed can affect an organization on several levels:

• Speed of processing affects cash collection
• Generation and distribution affects operational costs
• Complex processes can affect company flexibility

Today, 95%* of customer invoices are still sent in paper format. Sending invoices in paper format implies using highly manual processes of production and distribution having a direct impact on company profitability.

If no one is watching over the invoicing process, it will never be called into question.

Costs are hidden at every level of the process:

• Invoice preparation
• Printing, folding, stamping and delivery to the postal service
• Archiving
• Managing reminders and legal disputes

Along with hidden costs there are late payment issues highlighting a whole new set of questions:

• Is the cause of the problem rooted in the invoice delivery process?
• Are invoices being sent and received by the correct recipient?
• Are invoices being received early enough to allow for validation and prompt payment?

Optimizing your customer invoice management can be done by precisely analyzing your process from start to finish.

Printer monopolization for several hours or even days, managing paper jams, and changing empty toner.

Significant costs include investment in machines, maintenance, paper and toner.

Matching envelope size to page count, storage of envelopes in several sizes.

Managing several pages manually creates a higher risk of errors with the possibility of mixing up invoices. Document folding must be precise to correctly fit the paper into the envelope.

Using a folding machine adds to investment and maintenance costs.

Applying the correct stamp in correlation to the envelope weight can be a complex and time consuming process.

Renting and maintaining a franking machine adds to costs.

Low volumes require one person to drop off all the invoices at the post office at the end of each month.

Even if the postal service picks up the mail, it can be difficult to meet deadlines.