eInvoicing mandate: the perfect opportunity to review our Procure to Pay process as a whole
The delay in e-invoicing reform presents a unique opportunity to analyze, digitize, and optimize your entire Procure-to-Pay (P2P) process. This can lead to significant cost savings and efficiency improvements for your business.
Why should you upgrade your P2P system?
The e-invoicing reform only affects a portion of how you handle supplier invoices. However, by taking a closer look at your entire P2P process, you may discover opportunities to:
- Reduce costs by automating tasks and eliminating errors.
- Pay bills faster by streamlining the invoice approval process.
- Gain better control over spending by having all your invoices organized and easily accessible.
- Free up your finance and purchasing teams for more strategic work.
How to make the most use of the delay
- Analyze your current P2P process. Is it manual, partially digitized, or fully automated? How satisfied are you with it?
- Consider the benefits of e-invoicing. Faster processing, fewer errors, and more secure transactions.
- Look beyond e-invoicing. See how digitizing your entire P2P process can bring even greater benefits.
- Talk to your Purchasing Department. Work together to make the most of this opportunity to improve your P2P system.
Benefits for everyone
By improving your P2P process, everyone in your company benefits:
- Purchasing: Enforce spending policies and reduce maverick buying.
- Finance: Faster month-end closing and improved control over cash flow.
- Operations: Easier to track orders and invoices.
Don’t miss this chance!
Talk to your Purchasing Department and start planning how to revamp your P2P process to take advantage of the e-invoicing reform delay.