Esize introduces new service for outsourcing of invoice capture
Esize, supplier of Cloud Spend Management solutions, is introducing a new service which offers clients flexible support in the digitalisation (scanning and recognition) of supplier invoices. Despite the many advantages offered by electronic invoicing, organisations still often regard the implementation of a solution for the digitalisation of invoices to be a complex and time-consuming process. In order to support organisations in this, Esize has developed a new proposition which enables clients to fully contract out the manual processing of invoices. It is based on the tried and tested technology of the Esize Purchase to Pay platform in combination with many years of expertise in the field of automated invoice processing. And so Esize helps organisations speed up the Accounts Payable process and minimise costs.
Each year, organisations receive large amounts of supplier invoices, via the mail or e-mail, as an XML or PDF. The manual processing of each invoice is a time-consuming and labour-intensive process. Unfortunately, this often results in unnecessary errors and delays, which in turn can lead to penalties for tardy payment or to missing out on payment discounts. Esize helps organisations convert incoming invoices into ready-to-use electronic process data, regardless of the original format. It does so in a fraction of the time which organisations would normally require for manual processing. This is a cost-efficient solution for scanning invoice data and importing it in the Esize purchasing system, without having to invest in the necessary software.
Accelerate lead time of invoice handling process
In concrete terms, the new service means that each incoming invoice received via the mail or e-mail, as an XML or PDF, is read using OCR software. This is followed by supplier validation and verification of all the data on the invoice. It is then automatically exported to the client environment within the Esize platform, where it awaits approval via the workflow functions in Esize. “This results in less administrative actions for the client and a considerably shorter processing time for invoices. This way Esize helps organisations improve the quality of the Accounts Payable process while also reducing costs”, explains Paul van Rietschoten, Commercial Director at Esize. “It is a deliberate choice to supply our services from a physical location in the Netherlands, as we can then guarantee our clients accelerated lead time of the invoice handling process and efficient communication.”
100% digital invoices
“We regard the new proposition to be a logical extra asset in our portfolio”, says Paul van Rietschoten. “The service is specially designed for organisations looking to boost efficiency and cost effectiveness of their Accounts Payable function. Esize can take over these processes for them, freeing internal departments and employees to concentrate on their daily and important core activities. Looking at the market, we see more and more organisations recognising the need to switch to electronic invoicing. A central feature is the replacement of paper invoice flows by electronic processes. Online business platforms will play an ever more important role, in allowing the process from order requisition to payment to take place in a fully automated manner. In doing so, we are helping our clients take the next step in realisation of added efficiency, better processes and greater cost reduction.”