Are duplicate payments costing your business? Automate and save!
Duplicate payments are a problem which can cost UK businesses thousands of pounds of their annual turnover. It’s a significant issue and unnecessary expenditure that can be reduced using an automated invoice processing service.
Many businesses have an auditing system in place to catch these inconsistencies, but performing that audit retrospectively can take up time, result in lost revenue and the inability to reclaim costs.
Automating invoice processing can help your business identify and reduce duplicate payments, while simultaneously making your AP function more efficient.
Duplicate Payment Solutions
Cleardata’s automated invoice processing service offers high-speed scanning, together with clever data capture software to allow invoices to be digitised and validated on arrival. Both emailed and physical invoices are combined digitally through an upload into our electronic document management system, Cleardox EDM.
Cleardata has also invested in Ui Path RPA technology, providing the ability to spot data trends, automate manual processes and provide scheduled data reports and analysis.
Read our Biffa Case Study, to find out how we helped them. here
Common Duplicate Payment Issues
- Vendor duplication – The fault might lie externally if a vendor’s system encounters a fault or through human error, you’re sent a duplicate invoice by mistake.
- Multichannel invoicing – You may receive an invoice by email and then a few days later through the post
- Missing PO – Incoming invoice doesn’t display the purchase order and invoice is paid regardless.
- Human error – The processing of hundreds of invoices over the course of a day can see mistakes arise due to human error.
How We Can Help…
Mailroom & Scanning
We can help divert physical invoices to our high volume, secure scanning bureau to be opened, sorted, digitised and validated. Electronic invoices can be re-directed via email.
During the scanning process, intelligent data capture techniques can extract key information such as date, PO number, line item, amount and quantity. This removes the need for data entry, saving time and reducing the risk of human error. Electronic invoices can also have intelligent capture applied.
Digital Invoice and Exception Management
Cleardata’s digital exception and document management solution enables your team to action, monitor and manage anomalies, as well as providing the tools to report and prevent them from happening in future instances.
With added workflow implementation, invoices can be sent to the appropriate teams in your organisation for approval and sign off.
Invoices can be validated against existing business information using a data feed from PO or supplier data. Pre-agreed business rules are also set up, for example:-
- No PO, No Pay
- Valid PO Date
- Check for duplicate payments via invoice number
- Legal entity check
Digital invoices can be filed using any required metadata and retrieved using our ClearSearch fast search functionality. This allows invoices to be searched whilst using other proprietary software and systems, providing easy access at the touch of a button.
Automated Notifications and Responses
Our team will work with you to set up automated notifications and responses to allow identification of common supplier issues and reduce future exceptions. Examples include:-
- Automated email rules – If a PO is missing it will be placed in the exceptions queue, with the exception reason, to notify your team. We can also set up an automated supplier email to alert of a ‘No PO, No Pay’ policy, together with a request to resend the invoice with the correct information to ensure payment.
- Vendor duplication detection – Duplicated invoices are flagged and brought to your AP teams attention.
- Multichannel duplication detection – Our IT team can set up systems and reporting to detect multichannel invoice duplication and provide alerts.