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Administrative Cost Savings through Invoice Verifications

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R
Rutger Gassner

Administrative costs associated with invoice processing can be reduced through strategic verification of invoice data. A tiered approach to invoice verification includes checking for invoice compliance, filtering duplicate bills, and verifying product prices. Ensuring accurate and complete invoices are validated against purchase orders and price thresholds can significantly decrease costs from disputes and repetition in the payment process.

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Administrative Cost Savings through Invoice Verification
The cost of doing business. ,[object Object],[object Object],[object Object],[object Object],1 http://www.unece.org/press/pr2007/07trade_p02e.htm 2 Gartner industry estimate. 2003. http://www.gartner.com/press_releases/pr24june2003e.html
Transaction data defined. ,[object Object],[object Object],[object Object],[object Object],[object Object]
The tiered approach. ,[object Object],[object Object],[object Object],[object Object],[object Object]
Invoice compliance. ,[object Object],[object Object],[object Object],[object Object]
Invoice compliance: complete. ,[object Object],[object Object],[object Object],[object Object]
Invoice compliance: valid. ,[object Object],[object Object],[object Object],[object Object]
Invoice compliance: accurate. ,[object Object],[object Object],[object Object],[object Object]
Bill duplicate filters. ,[object Object],[object Object],[object Object],[object Object],3 Association for Financial Professionals. Electronic Payments Survey. 2008. pg 3, 12.
Product-price verifications. ,[object Object],[object Object],[object Object],[object Object]
Product-price verifications: contract price. ,[object Object]
Product-price verifications : product-price. ,[object Object],[object Object]
Product-price verifications: merchant-product. ,[object Object],[object Object]
Cost savings that cannot be taken for granted. ,[object Object]
Multi Service. Innovation Where it Matters. ,[object Object],[object Object]

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