Challenges of outdated invoice management processes
Whether paper-based or in PDF form, incoming invoices that are processed manually cause high costs, errors, delays, and compliance risks. With its digital invoice management solutions, Konica Minolta helps businesses automate and standardize their invoice processes. We also ensure that your organisation complies with EU e-invoicing regulations in your region.
Almost half of all companies (48%) process up to 500 invoices every month. For many companies, this means manually comparing invoices with orders up to 500 times a month and entering invoice data manually. What a tedious, time-consuming, and error-prone process! A mix of paper and email invoices makes processing even more difficult. What's more, non-standardized approval workflows can lead to payment cycles being extended or invoices even being overlooked completely. If the processes are also paper-based, they generate high costs in terms of printing, sending, and storage. Correcting errors or disputes requires time and resources and increases operating costs. Added to this are possible fines or penalties for non-compliance with laws such as the EU law on e-invoicing.
How digital invoice management works
Konica Minolta’s digital invoice processing automates and standardizes your invoice processes. The data on incoming invoices is automatically captured, checked, and transferred to common accounting systems (ERP) using text recognition software and intelligent algorithms. They are then forwarded to the right team for approval.
Benefits of intelligent invoice processing
Any company can harness the power of invoice processing automation. You'll discover that Konica Minolta's invoice processing solutions reduce errors and give you more transparency, avoiding bottlenecks and helping to keep you compliant.
No matter how invoices arrive - whether in paper form or as email attachments - an AP (accounts payable) automation solution can deal with them for you. They'll be delivered to the right people fast - using our workflow and routing options.
Benefits
Automated workflows that streamline time-consuming manual tasks.
Mobile technology that allows invoice authorisation on the go, so invoices can be authorised by the relevant people wherever they are.
Structured digital capturing of all incoming invoices.
Real-time invoice validation to detect errors faster, resolve issues and improve relationships with vendors and suppliers.
Instant access to invoices awaiting processes. No more lengthy internal searches for invoices in paper form – so you can access your invoices anytime, anywhere.
Faster error detection so issues can be resolved faster, improving relationships with vendors and suppliers.
Compliance with local and international regulations, including e-invoicing regulations.
Advanced encryption and secure storage protect sensitive financial data.
