Duplicate invoice happens when the same invoice gets registered twice in the invoice management system thus leading to double payment. Chasing the vendor for a refund is unnecessary when we can check the system and eliminate the duplicate invoices. If the entered fields - vendor name, invoice number, accounts payable, and invoice date - on both invoices are the same, invoice capture software can detect the duplicates. Review the vendor master files in your invoice processing system, and check for multiple entries under the same vendor. Multiple vendor entries can happen due to miskeying the characters or mistakes in automated capture by the OCR.

Majority of companies have switched to digital supplier invoice processing methods, which saves them time and spares them from the manual effort. Automated supplier invoice management software helps company save countless hours spent on manually entering and processing data by automating the entire process. This system will capture the data in the invoice when it's released. Later you can schedule the payment and set the workflow to process further. And it sends real-time notifications to approvers and initiates the transaction.

As discussed already, invoices are issued in different forms. Automated invoice management software is programmed to capture invoices in whatever format they are published. This way, you can ensure that no invoices are missed or delayed for payment. It makes the vendor satisfied, when they notice the instant acknowledgment from your end. When you automatically receive invoices, you know where to look (one place and not everywhere) and never miss any of them.

To avoid late payments or missing invoices in supplier invoice management, you can rely on automated reminders. You can tune your invoice management software in a way to trigger an alert whenever a new invoice is received. You can set email reminders of the processing and due date when you receive a paper invoice. Or you can request your vendor to add you to the reminder list if they have an invoice reminder system.

In the process of the purchase-to-pay cycle, an invoice has been transferred and processed by multiple teams like accounts payable, finance, purchasing, and audit teams. Delegating the authority appropriately and letting the respective team know their responsibilities will make this process slicker. Reduce the processing time needed by creating a strategic approach for your company to process invoices.

Companies waste plenty of their precious time processing invoices via old-school approaches. Automating supplier invoice management processes can save you time, which can be invested in team-building or improvement tasks. The strenuous invoice management process will have a shorter and more organized life cycle when automation is brought into the picture.

When money is involved, no error is a slight error. In many cases, manually dealing with invoices and payment information leads to human and typing errors whose effects you wouldn’t want to face. 100% accuracy is the only way to achieve balance in your general ledger funds, and getting invoice capture software can do it for you.

Today’s vendor can be tomorrow’s partner or even client. Risking a solid bond with a supplier over some payment issues is a blunder from a business perspective. On the other hand, paying your vendors on or before time and showing care and importance in processing their payments can make you a desirable client.