The cost of manual supplier invoice processing
According to research and analysis group, Gartner, typically the cost of processing an invoice in the UK ranges from £4 to £25, and in some cases is as high as £50, per individual invoice.
Did you know that a third of UK Finance decision-makers always print off invoices received by email?
In the new world of hybrid work, do you worry that your reliance on manual or paper-based processes:
➼ Presents a significant challenge to document control and data security?
➼ Risks error and document loss across the organisation?
➼ Prohibits remote working and prevents you from hiring and retaining the best people for your team?
5 benefits of an automated accounts payable process vs manual invoice handling
Eliminate late payments. Supplier invoices can be validated on time and approved for payment quickly, late payments are less frequent or even eliminated and supplier relations are improved.
Save time. The average UK company spends over 40 hours per month managing supplier invoices. Automated invoice processing reduces this by up to 70%.
Save money. It is up to 80% cheaper to process your supplier invoices automatically than manually.~
Improve financial control. Eliminate uncontrolled spend and gain better visibility of your purchase commitments earlier in the accounts payable cycle.
Improve document control and data security. All of your accounts payable documentation in one central location, accessible from anywhere.
What about employee expenses?
How much time do your employees spend juggling the admin of their expense claims, be that collating receipts, completing expense forms, or chasing approval from their manager?
How much time do you spend checking receipts against claims, chasing missing receipts and checking net and VAT calculations?
How do you check expense claims against your expenses policy?
To find out how IRIS Software can help you to automate your accounts payable or your employee expense process, register for our exclusive webinar today.
Chloe Aitkin
IRIS Finance Market Specialist, IRIS Software Group
Will Terry
IRIS Financials Specialist, IRIS Software Group
Andrew Finck
Pre-Sales Consultant (Education), IRIS Software Group
Gillian O'Dea CA
Director, J H Greenwood and Company
Eva Mrazikova (Moderator)
Accountancy Market Specialist, IRIS Software Group
