Challenges of manual invoice processing & how to solve them
Whether you are in the services industry or the manufacturing industry, managing invoices and keeping an eye on the payables is an important part of having successful relationships with suppliers.💪
Chances are, you’ve run into some issues while processing invoices. Don’t worry, you are not alone.
Here are some main challenges of manual invoice processing:
❌ Mistakes due to manual entry: No matter how reliable your team members are, human errors can never be fully avoided.
❌ Slow approval process: Manual invoice approvals are time-consuming and can lead to delays in payments that can affect the relationships with your suppliers.
❌ Vulnerability to fraud: Fraudulent billing is one of the biggest challenges faced by accounting departments.
✅ AI solves a big chunk of these challenges: DOC²
👉 It can bring document data extraction to a new level of efficiency and efficacy, freeing employees from repetitive low-level work and letting them instead concentrate on added-value activities. Plus, it automates all the steps of the process.
Did you get curious?
Improve your processes with this tool