What is Invoice Processing?

If you follow our blog and social media, you see regular mentions about automating invoice processing. What if you don’t know what invoice processing is in the first place? 

We subscribe to the OpenText YouTube channel and when there is an update to their channel, we get notifications in our inbox. The video below was the most recent one that came to us and it seemed applicable to share.

The definition, while long and robotic in this video, is very informative for someone who may not know that in a manual invoice approval workflow, it could take up to around 15 steps to process and finally pay an invoice submitted by a vendor. The point that we would like to nail home here is “15 steps to process and finally pay an invoice”. As you know, with each step of a process requiring human intervention, there is room for error. That is why the team at Optiform loves what we do. Automating business processes not only expedites approval processes, but also reduces the number of errors that occur in each step. Additionally, automation and digitization reduces the amount of paper in an office which reduces the costs associated with the paper-based processes.

Tell us what you think after you watch!

Here is what an efficient process looks like.

Like what you see?

Contact our sales department to learn more about how you can automate your company’s invoicing processes. We want to show you just how efficient your office can be!