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Electronic Invoice Software & Automation Solutions

Electronic Invoicing

Enjoy paperless invoice processing from day one, with no scanning or data capture hassles.

The drive to eliminate paper invoices has been around for decades. Until recently, the best option for electronic invoice processing was to buy a costly e-invoicing solution for scanning and data capture. In other words, you could systematically convert your paper into images and use OCR to capture the data. But why manage paper to go paperless? Go electronic! COR360’s electronic invoicing system eliminates the paper trail by providing your suppliers with a comprehensive network for remitting e-invoices.

Supplier E-Invoice Transformation

Corcentric realizes that moving to a fully integrated e-invoice solution does not happen overnight. However, with the goal to be paperless, there will undoubtedly initially still be paper in the process. COR360 is one of the only electronic invoice presentment and payment solutions that also offers a comprehensive, fully-integrated invoice virtualization solution for paper-based invoices. Our Invoice Virtualization Centers provide electronic invoice conversion services such as scanning and data capture to convert paper invoices to electronic invoices, so you can go 100% paperless immediately. Meanwhile, we begin the process to convert your suppliers to the Corcentric Supplier Network (CSN) so you can submit electronic invoice payments in the future. With the Corcentric process, you never have to touch a paper invoice again starting from day one.

Why E-invoicing Software?

Driving productivity with an Accounts Payable workflow typically starts with scanning paper invoices. However, studies show that even the most efficient AP department cannot achieve maximum productivity just by scanning and converting paper invoices. The goal of EBPP solutions (Electronic Bill Pay and Presentment) should be to convert 50-80% of your volume to electronic invoicing.

Electronic Invoicing and Productivity

Utilizing e-invoice software offers a variety of benefits when compared to traditional paper invoice processing. Most notably, electronic invoicing can greatly improve productivity. Specific benefits of Corcentric’s e-invoice solutions include:

  • Further reduce Accounts Payable costs by minimizing paper conversion
  • Receive electronic line item invoice data for more accurate matching and reporting
  • Decrease your ‘Days Payable Outstanding’ to drive early payment discounts
  • “Go Green” by doing business in a more environmentally-friendly way
  • Reduce inbound calls related to invoice status

Strengthen Controls with E-Invoicing

Electronic invoicing eliminates issues that inevitably come with paper-based processes such as misplacing or losing paper, duplicating or overpaying invoices, or making late payments. With COR360’s e-invoicing solution, visibility is instantly improved with online notifications that remind approvers that an e-invoice needs to be processed. In addition to increasing consistency in the invoicing process, it also improves the audit review process. AP departments can quickly provide access to e-invoices based on internal and external audit requests.

Corcentric Supplier Network

Our electronic invoice mapping services direct electronic invoice data from your suppliers’ billing system in the Corcentric Supplier Network and into COR360 for instant access to your invoice and payment activity.

The Corcentric Supplier Network stands out among competitors:

  • No requirement for suppliers to conform to a specific file format
  • No costly supplier fees
  • No costly enablement fees associated with our dedicated onboarding team