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Administrative Cost Savings through Invoice Verification

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T
Ted Green

Administrative costs associated with processing paper invoices can range from 3-15 dollars per invoice. Strategic invoice verification processes can help reduce these costs. A tiered approach to invoice verification includes checking for invoice compliance, applying bill duplicate filters, and verifying product prices. Ensuring invoices are complete, contain valid data, and have accurate pricing can help streamline processing and reduce costs.

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Administrative Cost Savings through Invoice Verification
The cost of doing business. ,[object Object],[object Object],[object Object],1 http://www.unece.org/press/pr2007/07trade_p02e.htm 2 Gartner industry estimate. 2003. http://www.gartner.com/press_releases/pr24june2003e.html
Transaction data defined. ,[object Object]
The tiered approach. ,[object Object],[object Object],[object Object],[object Object],[object Object]
Invoice compliance: Level I. ,[object Object]
Invoice compliance: Level II. ,[object Object]
Invoice compliance: Level III ,[object Object]
Invoice compliance. ,[object Object],[object Object],[object Object],[object Object]
Invoice compliance: complete. ,[object Object],[object Object],[object Object],[object Object]
Invoice compliance: valid. ,[object Object],[object Object],[object Object],[object Object]
Invoice compliance: accurate. ,[object Object],[object Object],[object Object],[object Object]
Bill duplicate filters. ,[object Object],[object Object],[object Object],[object Object],3 Association for Financial Professionals. Electronic Payments Survey. 2008. pg 3, 12.
Product-price verifications. ,[object Object],[object Object],[object Object],[object Object]
Product-price verifications: Contract price verification. ,[object Object]
Product-price verifications : Product-price tolerances. ,[object Object],[object Object]
Product-price verifications: Merchant-product verification. ,[object Object]
Cost savings that cannot be taken for granted. ,[object Object]
Multi Service. Innovation Where it Matters. ,[object Object],[object Object]

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