In every organisation, Purchase Ledger departments are challenged with cutting operating costs, while ensuring invoices are promptly paid and mishandling does not compromise hard-earned business relationships. According to research, manual P/L processes are costing companies on average £3-£6 per invoice and reducing employee productivity by 50%.
Issues in the Current State
There are a number of challenges related to P/L invoice processing, including:
IMS have developed a solution that combines automatically processing invoices through Three Way Matching with the electronic receipt of invoices. As more companies try to control expenditure through non stock purchase orders, this new process ensures that the vast majority of invoices can be fully processed automatically with no manual input. Other types of invoices can also be automatically processed if required.