The Invoice Automation challenge
Much of the B2B transaction cost and complexity lies in back-end invoicing and PO-invoice reconciliation processes, including:
- Diverse invoicing standards, formats and processes across buyers, as each buyer is governed by their particular accounting practices.
- Processes to capture, match, approve, pay and archive invoices are heavily dependent on manual processes in many organizations, making them costly and prone to error.
Benefits of Invoice Automation
Invoice automation significantly reduces the time and cost spent on managing invoices, compared with manual invoice processing.
It reduces errors that lead to incorrect billing, and the resulting cost and effort to resolve them. For example, when paired with PO automation, invoice automation reliably manages complex, multi-line item invoices, virtually eliminating the risk of line item mismatches.
The TradeCentric solution for effective Invoice Automation
Tradecentric’s B2B invoice automation offers a simple automated invoicing solution that cuts through the complexity and diversity of different corporate invoicing processes and standards which are often still rooted in paper-based invoicing.