What is Automated Invoice Processing?

Automated invoice processing uses specialized software to scan, extract, match, reconcile and validate relevant invoice data. The software then sends that information through an enterprise’s system so payment may be processed. Enterprises lean toward automated invoice processing to eliminate invoicing complexity, strengthen supplier relationships and lower costs.

GEP’s invoice management software eliminates manual intervention, except for in those special cases where a human touch is required, which greatly reduces the burden on accounts payable and finance teams. GEP SMART™ improves cash flow, drives additional savings and helps procurement organizations make the most of dynamic discounting opportunities.

Related Terms

What is Accounts Payable (AP)?What is Accounts Receivable (AR)?What is Acquisition Cost?What is Active External Integration?What is Added Value?