invoice digital transformation

Invoicing is Low Hanging Fruit for Digital Transformation

Digital transformation has been a common theme for the last few years. One area that wasn’t moving as quickly into that general direction was the finance department. A number of industry players have banded together to create an initiative under the DX Agents. One of the challenges that finance departments face is where they can start. What is the low hanging fruit for the finance department? We at OnePosting are big supporters of this digital transformation and feel that, for many firms, a great place to start looking is at their processes and systems around invoicing. There are often opportunities both with Accounts Payable and Accounts Receivable. Here are a few benefits of starting with your finance department’s digital transformation with invoices.
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emailing invoices

Emailing Invoices is Not a Scalable Solution

At OnePosting we have talked with hundreds of organizations about helping to improve their outbound invoices. Many say we already have a digital process for some of our customers as we are emailing invoices attached as PDFs. This is an eInvoicing myth as emailing invoices is not a scalable solution if you are looking to grow your business and become more efficient. Here are some of the issues associated with emailing invoices as PDFs.
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#1 query received

#1 Query Received by Credit Teams

In the Credit Management Benchmark assessment, we listed seven common queries received by credit/collections teams and asked participants to rank them in volume order, i.e. the most frequently received query first, followed by the next most frequently received one, and so on through the list.

The number one query received, by a very significant margin is requests for copies of invoices. In the age of modern communications, how is this possible?

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