8 Invoice Headaches and How to Cure Them (and it’s not paracetamol)

UKI Marketing Manager

If you’re reading this, then it’s highly likely you suffer some sort of pain when it comes to invoices. Even in Marketing I feel the ache too but nothing in comparison to our colleagues in Accounts Payable.

We recently filmed a webinar with Mary Schaeffer based on her research of the most painful areas Accounts Payable staff feel when it comes to invoices. What struck me was just how many people surveyed have the same issues with 37% experiencing at least 5 or more invoicing headaches, everyone in the survey could identify at least one area that caused issues.

If you’ve experienced the pains listed below I’d highly recommend spending an hour watching the webinar, or skip through to find your specific headache and the cures outlined by Mary.

  1. Slow Approvals
  2. No PO number or requisitioner name
  3. Incorrect recipients
  4. Manual data entry
  5. Duplicate invoice submission
  6. Missing invoice information
  7. Missing out on Early Payment Discounts
  8. Duplicate invoices with new invoice numbers

After watching the webinar you’ll have a good idea of how to re-engineer processes to eliminate bottlenecks and how you should communicate these changes to your internal departments.

Take a look at the webinar here, we’ve included the slides so you can use these as reference when applying to your situation and if you need any extra advice on the technology side then we are here to help. Just drop us an email or give us a call and we can start a conversation to see where we can help you.

 

You can find all future MasterClasses in our events section, we run these monthly with everchanging topics so keep an eye out.

Category: Accounts Payable