There are significant costs associated with processing paper invoices, with companies spending between $3-15 per invoice on average. Strategic invoice verification processes can help reduce these administrative costs. A tiered approach to invoice verification includes checking for invoice compliance, filtering duplicate bills, and verifying product prices match contractual agreements or are within expected tolerances. Automating these verification steps can dramatically decrease the costs from manual exception handling and disputes, capturing meaningful cost savings.

1. Administrative Cost Savings through Invoice Verification