Making an Earth Day Impact: Paperless Invoicing
Are your finance operations bogged down in paper and invoice processing delays? Today, as we pause to consider Earth Day, one way that procurement and finance organizations can make a positive impact on conservation and waste reduction is to move to eInvoicing, or paperless invoicing. According to research from Hackett Group, SharedServicesLink.com and others, large organizations process over 10,000 invoices annually per A/P FTE. This is a massive amount of paper. In real terms: 10,000 invoices = 100 lbs of paper = 20 reams of paper = 1.5 trees. Now multiply that times the number of A/P staff on your team.
Xeeva’s eInvoicing solution fosters touchless and paperless automated payment transactions. Paperless invoicing technology has evolved well beyond simple workflows to now include 3-way matching to ensure complete accuracy of the transaction between companies and their suppliers. Purchase order data is matched to goods receipted data, which forces suppliers to only input invoices (electronically) that match the exact quantities, prices, and items you’ve received.
So in addition to the obvious business benefit, you’ve also taken a big step to reducing your company’s carbon footprint reduction or you can say your ecological footprint across your business operations.
For more information about eInvoicing or to share your Earth Day advice please contact us at firstname.lastname@example.org.