PayStream Advisors describes how e-invoicing solutions can streamline the Accounts Payable lifecycle, even when suppliers are reluctant to automate.View the whitepaper
Paper invoices are expensive to handle and so time-consuming to match and process that early payment discounts are missed and late payment fees incurred.
You can eliminate paper for good with true electronic invoicing from COR360™. Schedule your free demo today.
About Corcentric’s E-invoice System
You can take advantage of three options to make paper-free invoicing a reality:
1. Corcentric Supplier Network
Connecting supplier finance systems to our network means full, paperless e-invoicing using EDI, XML, flat files, or another electronic data exchange method without costly fees.
2. Corcentric Invoice Virtualization Center
You can go paperless with invoice scanning and data capture to turn invoices into electronic data for automatic matching and faster processing.
3. Corcentric Supplier Invoicing Portal
The final option is the Supplier Invoice Portal. The free-to-use, 24/7, self-service portal means you get supplier invoices in electronic format for fast processing and your suppliers have access to invoice status. It means fewer phone inquiries for you to answer.
We’ll work with you and your suppliers to handle both the technology and communication changes to ensure that your business’ e-invoicing solution is implemented quickly and seamlessly.
An Overview of Electronic Invoicing
E-invoicing is much more than switching your accounts payable department to a paperless system. It’s efficient, cost-effective, and the way of the future. From manufacturing industries to higher education and financial industries, everyone is switching to electronic billing and invoice management.
Not only does paperless billing help cut down on waste, electronic invoicing provides a better way for companies to accurately record and track transaction details.
Transitioning to an Electronic Invoicing System
Despite the huge cost-savings and improved accuracy, some industries and many businesses have still not switched over to electronic billing systems. Some of the common barriers to e-invoicing and billing are:
Cut Costs and Solve Inefficiencies with an E-Invoicing Solution for Business
According to a research report conducted by PayStream Advisors automated and electronic invoice processes can result in a savings between 60% and 80% when compared to traditional paper-based processing. While cost-savings is still the number one reason for most businesses and organizations to switch to paperless e-invoicing systems, it isn’t the only reason to make a change. When it comes to business, time is money too.
Move your company to an e-invoicing system with COR360 and watch your efficiency soar. With COR360’s powerful functionality and features, it’s easy to level the playing field and enjoy the same scalable automations as Fortune 200 companies. An electronic invoicing process can help your company:
Don’t just take our word for it; hear what some of our satisfied customers have to say about our e-invoicing solutions.
“We were very pleased to find that we could get such robust functionality at our price point. COR360 has brought our Accounts Payable to a higher level of efficiency, and because COR360 is a scalable solution developed by AP experts, we are now able to enjoy the same automations that Fortune 200 companies enjoy.”
– AP Lead, WD-40 Company