Perhaps you, like many organizations, are considering implementing an e-invoicing and vendor portal solution. Good idea! There can be numerous benefits in doing so: eliminating paper, eliminate data errors, checking invoices for conformance prior to processing, providing invoice status to suppliers, enabling suppliers to turn POs into invoices for submission, offering dynamic discounting, and many more.
However, e-invoicing and vendor portals alone don’t provide “the whole cookie.” What are they missing?
And more… Organizations should look to deploy a “both-and” strategy – deploying e-invoicing / vendor portals and automated workflow. This enables organizations to get the biggest bang for their AP automation buck (or Euro, depending on where you’re from).
Furthermore, by deploying an automated workflow solution that is validated (or certified) to work in conjunction with your ERP system’s data, security model, and business rules real-time, live – there is even more significant benefit. In this case, your cookie would be “double stuffed!”
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