Automated Delivery of Customer Invoices to AP Portals

Options for customer invoice delivery continue to modernize as companies experience the fruits of digital transformation. We have come a long way with invoice delivery methods — things are faster, easier and more cost-effective than ever before. In recent years, companies have been seeking efficiencies within accounts payable (AP) for the buyer, which led to the introduction of AP portals. Accounts payable portals continue to grow in popularity, so much that the U.S. Government, the largest buyer in North America, mandated that vendors must electronically submit invoices within one of their recognized portals by end of 2018. As more and more buyers transition to using AP networks to ease their own technology burdens, it shifts the problem squarely onto the supplier’s accounts receivable (AR) team.

Accommodating customers has been the key to many organization’s success, however, it can come at a cost and may not be an easy task. There are more than 250 complex AP networks used globally. New AP technology means that suppliers increasingly need to submit invoices directly into customers’ AP systems.  To manage this method, AR departments are often:

  • Manually entering each invoice using an online AP portal, one at a time — which is time consuming and resource draining
  • Hogging up already limited IT resources to build custom AP integrations with each system and provide ongoing support
  • Turning away business refusing to accommodate, impacting growth
  • Managing multiple invoice delivery channels, including delivery of statements and invoices via portal, postal mail, EDI, fax and email

Accounts payable networks and private corporate portals are not going away. There are real benefits to submitting invoices online, such as: visibility on payment status, cost savings by lowering or eliminating postal mailings and time savings of sending an email versus postal mail.

With the aid of Artificial Intelligence (AI)-driven technology, suppliers now have the option to automatically deliver invoices to portals — no longer requiring manual data entry or taxing the resources of AR staff. The repetitive processes of data entry and invoicing naturally lend themselves to automation. Artificial intelligence can help companies timely and efficiently post invoices to AP portals, without input from humans. Automation of invoice delivery into AP portals eliminates the burden, giving both parties the efficiencies they want and need.

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