Invoice Tracking for Business Purchasing
P2P Software Helps Businesses Track Invoices
Processing invoices becomes costly largely due to the time it takes to process each invoice without procurement software. A major contributing factor to the overall cost of processing invoices is the time it takes to answer questions internally and from vendors.
A recent study shows that many suppliers cannot tell if their invoice has been paid resulting in wasted time communicating back and forth between AP and the vendor. The top two questions received by AP is “has my invoice been paid?” and “when will my invoice be paid?”
The time and associated cost with processing invoices and relaying that information can be greatly reduced and streamlined with automated invoice solutions like Vroozi Invoice. Invoice automation is easy, safe, and helps each related party get the information they need quickly.
Particularly of note, the survey also found the 3 in 4 participants who already have an invoice portal solution believe that the portal delivers the same or better customer service than a live agent. By funneling invoice customer service tasks to an automated system, AP employees have more time to focus on more strategic activities.
Learn more about how Vroozi Invoice can help you save time and money with a free procure to pay process live demo. Register here.
Source: PYMNTS.com, Suppliers Can’t Tell If Invoices Have Been Paid, Survey Finds