Depending on your organization, the maturity of your invoice processing is likely varied, even across your own internal workflows for different invoice types. And like many others in your shoes, your goal is to get those things as automated as possible – regardless of invoice type – and shoot for 100% invoice automation. But there’s one major roadblock that prohibits companies from achieving that goal – manual handling of invoice exceptions. These exceptions result in inefficient processes, poor use of valuable AP resources and late payments. The good news is, innovation and new digital technology are paving the way for smarter exception handling to maximize automation across invoice processing.
Read how exception handling is transforming in the digital age
Automation can take you far on the journey to create a more touchless invoice handling process, with built-in functionality to automate majority of transactions. When you add advancements in machine learning and AI – like smart coding functionality – there’s even technology to automate exceptions.
Read our ebook to learn how digital purchase-to-pay solutions are transforming exception handling to help you:
- Work smarter and faster: Move away from transactional activities, such as resolving supplier invoice queries, to higher value data-driven analysis.
- Avoid penalties and enjoy discounts: Avoid late payment fees and capture early payment discounts with faster processes
- Get critical visibility: See all invoices in process to properly forecast cash flow.
- Improve supplier relationships: Get suppliers paid quickly and reliably to encourage mutually beneficial buyer-supplier relationships.
- Create an exceptional AP function: Reap the benefits of streamlined processes and cost savings to transform you AP department.
“Through the years, we’ve worked closely with our customers to simplify their operations and help them spend smarter through forward-thinking approaches to automating finance and procurement processes,” said Ilari Nurmi, SVP of Purchase to Pay Business Area, Basware. “Our customers are always inspiring us to improve and deliver innovations that drive measurable value for their organizations, and smart coding is a direct result of that.”