In recent years, e-invoicing has gained increasing importance as organizations look to reduce invoice processing costs and cycle time, improve working capital management, and expedite tax settlement. Indeed, the current trend is for suppliers to register invoices with the relevant tax authority for validation and reporting prior to or post sending invoices to their customers.

Enhancing your accounts payable process with a best-in-class e-invoicing solution can simplify and optimize your supplier invoicing process, while enabling your organization to retain market position through ensuring a “happy supplier, excellent supplier relationship.”

Adopting an e-invoicing solution enables you to streamline the invoicing process, enhance collaboration, and unlock the benefits of digital transformation with your suppliers in terms of regulatory and reporting compliance.

But how can you implement an end-to-end e-invoicing solution across your accounts payable function?

Five easy steps to optimize your invoicing processes

You can achieve the e-invoicing future you want by focusing on five key areas:

• Strategy – analyzing your current e-invoicing strategy enables you to identify what areas are performing well, while also highlighting areas that require more work
• Assessment and selection – performing process, technology, and tool assessment drives greater ROI from your e-invoicing transformation efforts
• Implementation – providing the right functional and technical support helps to properly implement your e-invoicing solution effectively
• Adoption – providing end-to-end vendor portal onboarding support to your vendors ensures greater transformation success
• Change management – leveraging an end-to-end approach through a change management framework ensures fast and efficient implementation.

Preventing fraud while reducing cycles times and environmental impact

Leveraging a next-generation e-invoicing solution drives a range of benefits and business outcomes, including:

• Significantly reducing processing cycle time by as much as 80%
• Recovering VAT not claimed and improving discount capture and working capital management processes
• Improving spend control and supplier relationships
• Preventing fraud and duplicated payments
• Reducing the environmental impact of your purchase-to-pay operations to improve your organization’s ecological image.

Expertise and support for every e-invoicing scenario

At Capgemini, we’ve identified four scenarios on where you are on the journey to e-invoicing and how you can optimize your existing invoicing program:

• Scenario 1 – you’re already engaged in an e-invoicing program, but your solution doesn’t include Capgemini recommended tools. Our change management and transformation experts can help you optimize your existing tools to drive increased adoption and outcomes
• Scenario 2 – you’re engaged in an e-invoicing program and your solution includes one or more of the Capgemini recommended tools. Our experts can ensure proper integration, testing, and operations of the tools to drive improved adoption and outcomes
• Scenario 3 – you haven’t implemented an e-invoicing program, but you’re open to Capgemini-recommended tools. Our experts can work with you to suggest and implement the right tools, technologies, and partners for the best ROI for your organization. We can also provide project management support for end-to-end implementation with governance and due diligence for smooth transformation
• Scenario 4 – you haven’t implemented an e-invoicing program and you would like implementation support for non-Capgemini preferred tools. Our experts can collaborate with your technology platform provider and recommend optimization options to improve e-invoice adoption and outcomes.

In conclusion, implementing an e-invoicing solution or optimizing your existing invoicing solution is easier than you think. Engaging an experienced service provider that can leverage a proven AI-driven payables solution will ensure your e-invoicing objectives become a reality.