Organizations that have a large amount of clients will likely have an arduous customer invoicing system. One French pharmaceutical company, Gifrer, recently decided to utilize business process automation for its 12,000 invoices to laboratories, hospitals and pharmacies.
Previously, the company had to send out these invoices manually, something which took up a lot of time, money and demand on their logistics department. After adoption, the company started turning all of these things around, according to Nathalie Gosselin, Chief Information Officer at Gifrer.
“Our invoicing process is now fully automated and visible to our teams and customers,” she said. “It not only saves us time, we are better equipped to meet our commitments to customers to ensure they receive their invoice at the same time as their package.”
Not only is the new system easier on revenue and time budgeting, there are improvements to service quality, better traceability and a more up-to-date customer database.
Binary Office can also offer organizations automated data capture for their accounts payable department, which can reduce the amount of time employees will have to spend automatically identifying types of inbound invoices and correctly placing them in a workflow for payment. Man hours are at a premium. these solutions can go a long way toward improving efficiency.
Business process automation is reaching its tipping point for accounts receivable, according to a recent report by The Institute of Financial Operations. According to the study, which was undertaken earlier this year, 54 percent of respondents said their company uses a system for e-invoicing, up from 33 percent in 2011.
“We’ve definitely seen a turning of the tide,” Jo E. LaBorde, executive director of The Institute, said. “AR professionals have long recognized the operational benefits of electronic invoicing; with this year’s results, we are seeing a significant increase in demand from customers expressing their preference for electronic presentment.”