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Handling bulky invoices with ease

Jennifer Azara
by Jennifer Azara
October 28, 2008
  • Strategy
1 minute read
  • SHARE ON

You know the ones — the invoices as thick as a phonebook. Here’s a solution to ease this common A/P headache.

When you have a vendor your company does a lot of business with, you may find yourself with some pretty unruly invoices. And chances are those bills have to make their way all over your building for all the different departments to approve.

That was just the challenge one director of finance in California was up against. His A/P staffers were tearing their hair out when it was time to process those invoices.

Not great for cash flow either.

That’s when he hit upon a solution that stuck.

He approached this vendor and asked if it could start e-mailing weekly statements for his company’s purchases.

Then at the end of the month, it could still send its usual all-encompassing invoice.

No surprises

But because the company had a running start, it had a good idea of what it would be looking at when the bill finally arrived.

The electronic statements can easily be routed via e-mail to get the approval process moving.

Reconciliations were a lot faster on A/P’s end, too.

In all, the company was able to cut people-hours by two days every month. And their A/P was more accurate to boot!

Jennifer Azara
Jennifer Azara
Jennifer, a member of the CFO Daily News staff, has covered business and finance for more than 22 years. She has written for CFOs, credit and collections professionals and accounts payable practitioners and has spoken at industry conferences on sales and use tax compliance.

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