Research has shown that it is possible to save an easy 7 euros on each inbound invoice just by switching to digital invoice processing. Where do these unnecessary costs come from?

Long Processing Time

The process from inbound invoice to payment takes a long time. An inbound invoice needs to be sent from one person to another within the company to get all the required signatures for authorisation; only then can the invoice be paid. It is a time-consuming process.

Manual Input

Manually entering invoices into accounting software, manually linking an invoice to an order: the more manual steps involved in a process, the bigger the risk that mistakes will be made.

Lack of Overview

Invoice routing – the process an invoice follows in order to obtain the required approvals – is often a black box, without any overview of the invoice status along the way. As a result, invoices linger on someone’s desk or are lost en route.

Not Mobile

In many cases, it is not possible to see invoice status or approve invoices on mobile phones or tablets. This makes it less convenient for users, making it much more likely that payment authorisation will take more time.

Digital, but not Automated

A digital invoice is not equivalent to an automated process. When you use digital invoices, you can upload them into most accounting software, but the underlying process is not automated. Instead of paper invoices, that are forwarded to the next person and can be left on someone’s desk along the way, a digital invoice can simply remain unopened in an inbox for too long. And the invoice is still being sent from one person to another.

BizzStream offers everything you need to automate invoice processing and make invoices payable. The platform offers comprehensive options and automatically assigns approval tasks to the right persona, ensuring that you will always have an up-to-date overview of all the invoices and their status. Invoice processing can be both efficient and reliable.

To read

Case study

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