m-hance, a UK business software solutions provider, has launched eInvoicing, a cloud-based invoice processing solution. m-hance’s solution enables users to easily process text PDF invoices received via email, cutting the costs associated with manual processing and by eliminating the need to print, scan and circulate paper invoices. Organisations that process more than 5,000 accounts payable (A/P) invoices each year could save between 60-80% of their costs by implementing eInvoicing, improving efficiency while gaining a quick return on their investment, according to the company.
eInvoicing is an easy-to-use and low cost solution which seamlessly interfaces with the Microsoft financial management suite. Text PDF invoices sent to a buyer-specific email address are detached via m-hance’s cloud invoice service which automatically extracts all data from the PDF. The solution’s intuitive verification rules convert the data into a standard electronic invoice format before uploading it into an organisation’s finance system. The original PDF can be stored in either a file store or a document management system, providing quick and secure online access to the PDF images of the invoices.
Andrew Hayward, managing director of m-hance, said: “Businesses are increasingly turning to e-invoicing as a quick and cost effective means to automate their accounts payable processes. By implementing eInvoicing organisations could save between £30,000 and £350,000 depending on the volume of invoices they are processing over a three-year period, while transforming productivity by going paperless at the same time.”
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