Invoice Digitization: The Solution When Suppliers Still Submit Paper Invoices
When implementing AP automation, many organizations worry about whether their suppliers will be willing to make the switch over to e-invoicing. Luckily, high-level solutions offer invoice digitization as a standard part of their software. With invoice digitization, suppliers can still submit their paper invoices, without having to clutter AP’s offices.
Paper to Digital
Paper invoices are, let’s face it, a headache for AP departments. Luckily, with a high-level accounts payable solution, suppliers can still submit paper invoices, without the physical paper ever hitting AP’s door. With invoice digitization, the paper invoice is sent to the automation solution’s address, where their team of experts scan the invoice, and with OCR recognition, they are able to digitize this file and upload it as an e-invoice. This process makes it so that the invoice comes through the same way as any e-invoice would. On AP’s side, virtually nothing is different. Digitization brings about big benefits, for suppliers who don’t want to make the switch to e-invoicing, and for an AP department that wants their invoices to be accessible online.
First: let’s talk about what an “e-invoice” actually is. The true essence of an electronic invoice is just that—an invoice that is accessible electronically. Many have the perception that if an invoice was emailed to you, well that makes it an e-invoice. With a high-level automation solution, all invoices that AP receives are e-invoices. The invoices that are uploaded by file, ones that are keyed in manually online, and even the ones received through paper—all become e-invoices in AP’s online portal. This is thanks to high-level AP software solutions choosing to utilize cutting edge technology—including invoice digitization, artificial intelligence, and machine learning.
E-Invoices: All in One Place
Thanks to the uniformity of invoices brought about through invoice digitization, an accounts payable department that has implemented a high-level AP automation solution can view all their invoices in one place. Every form of invoice sent to them will show up into their system like any other. This makes invoice management easier than ever—and having it all online opens up other opportunities like dynamic discounting and thorough reporting.
The Future of AP
If your suppliers aren’t ready to take a step into the digital world, that doesn’t mean that your department has to suffer. With invoice digitization, your department can successfully eliminate paper—even if your suppliers don’t. Accounts payable can be assured that with enterprise-level solutions, their departments can be made paperless from day one.