Automation of Inbound E-Invoicing

In E Invoicing by Rajesh P

inbound-einvoicing

Invoice processing holds a significant overhead for most businesses. Different business sectors have different way of approaching for invoicing their clients. If the invoice is late, wrongly interpreted or lack of necessary information may lead to transactional error or delay in payment. If the invoice is not precise, itemising product sales or hours of work undertaken, your invoice may be challenged by the client.

The digital transformation and adoption of upcoming technologies will take businesses to a next level. E-invoicing is the present and future of invoicing. It is an electronic invoicing process introduced by the Government of India, which is a common B2B practise. E-invoicing enables businesses to automate their process by integrating with e-invoicing software. This will help to gain business efficiency, operational and strategic benefits.

IVL introduces online e-invoicing software, OptiE-invoice to B2B clients.

How inbound process works?

Inbound process in OptiE-Invoice enables organizations to automate and streamline the processing of supplier invoices. It automatically extracts information from any incoming invoice, validates data and transfers it to your ERP (SAP) system. The system validates electronically generated E-Invoices from IRP Portal as well as manual invoices (Hard copy and soft copy). It extracts data, validates with an already created Goods receipt, Purchase order etc, highlights discrepancies (if any) and post the data automatically to your ERP (SAP) system (If data matches).

Benefits of Automated Inbound processing
  • Fully automated solution with faster processing.
  • 3 Level verification on Invoice processing(Validate, Park and Post)
  • Preview of Invoices along with extracted value to ensure correct values getting processed.
  • User friendly Dashboards to view statistics on what got processed, Pending and Rejected. It will also showcase Aging Invoices, Vendor wise reports, to do list of a particular user etc.
  • Single window solution for all Invoice documents whether it is E-Invoice, Hard copy Invoices or Softcopy Invoices.
  • Option to send documents automatically to ERP (SAP-Content server)

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About the Author

Rajesh P

Senior Project Manager. Rajesh has 19 years of experience in IT industry with more than 8 years in project management. Handled both offshore and onsite projects for Domestic and international customers. He has managed and executed the E-Invoice inbound project end to end.