Total Invoice Management

Total invoice management enables organisations to achieve cost efficiency, and reduce carbon footprint, through streamlining invoice processing,  with an underwritten business benefits case. Logica’s solutions encapsulate both your inbound and outbound invoice requirements.

Many finance departments still allocate too much time and resource to repetitive, manual invoice processing. Optimising invoice processing is a key step towards liberating the finance back office, freeing staff to focus on more business critical tasks.

The benefits of total invoice management:

Accounts payable
Processing paper invoices is estimated to cost between €30 and €50 per document (European Association of Corporate Treasurers). Logica’s total invoice management is designed to cut these processing costs by up to 70 per cent through combining electronic invoice delivery with scanning and OCR to deliver a single stream of validated line item data into your ERP or accounting system.  

Total invoice management is ideally suited to large finance shared service centre operations and can deliver the benefits of e-invoicing right from day one, removing paper invoicing and data entry costs.

Our award winning solution frees up the finance function to devote more time to contributing to the strategic direction of the organisation.

Accounts payable staff can be reassigned to higher value account management; associated stationery and related costs plummet, financial reporting times and your carbon footprint (e-invoices can save up to 75 per cent of the CO2 emitted in the invoicing process) all shrink dramatically.

Accounts receivable
Invoice production can be costly, cumbersome and error prone requiring manual intervention and checking before invoices can be sent to customers. This can lead to late customer payment, and deterioration in customer relations.  Managing relationships with multiple print bureaus and maintaining distributed EDI infrastructures across different countries can be inefficient and mean companies miss-out on scale economies.

The order-to-cash function in leading corporates is now a key area for low risk and rapid process improvement.

Logica’s outbound invoice management service is well suited to companies seeking to make process, cost and environmental improvements.  Outbound invoice management embraces both electronic and legacy delivery methods in a single scalable solution and enables you to leverage our scale economies both in traditional printing, enveloping and finishing as well as EDI and e-invoices. 

The typical benefits of our solutions include:

• Cost savings and improved efficiency from day 1;
• Speedier VAT recovery;
• Greater accuracy in reporting and forecasting;
• Support for corporate governance initiatives;
• An instant and more accurate view of cash position;
• Transparency over invoicing process;
• Reduced carbon footprint;
• Managed migration to e-invoicing;
• Underwritten business case.

Total invoice management is available on a modular basis. The key components are:

• Six sigma health-check,
• E-invoice delivery (Logica and global e-invoicing networks),
• ERP optimisation including 3-way matching,
• Printing & finishing,
• Archiving.

Critical Success Factors
Logica has all the necessary experience, skills and processes to deliver low risk total invoice management deployments which means we work closely with clients to ensure that the Critical Success Factors (CSFs) listed below are addressed correctly at the appropriate time and in the appropriate manner to ensure success.

• Ensuring one invoice process for paper and electronic invoices – Logica provides guidance on best practice processes.  This is very much a collaborative effort as clients’ industry and supplier imperatives also need to be taken into account.
• Supplier participation in order to drive the migration from paper to e-invoices.  This is often perceived as the most difficult challenge to overcome but Logica with our partner OB10 has unparalleled experience of how to run optimal supplier enrolment campaigns designed to deliver the required results which directly affect the client’s ROI.
• ERP optimisation; how you handle invoice data and images in the ERP system is critical to driving productivity improvements and maximising potential cost savings.  Logica’s vast ERP experience means that we have the skills and experience to address the integration aspect of such a project.
• Change management – the technology is the easy part – ensuring that everyone involved, internally and externally understands what is required and buys into the vision is pivotal to driving out the targeted ROI.

How Logica can help you
Total invoice management can be delivered as a fully outsourced service, as an in-house solution or, if clients prefer, any combination in between. Logica can provide the complete service, from initial accounts payable benchmarking, business benefits analysis through to ongoing operation, including a fully managed transition of your supplier base to e-invoicing through global e-invoice networks.

Integrated systems delivering cost savings
Available across 90 countries, we already process more than 40 million electronic invoices and scan more than 13 million paper invoices every year. Logica also prints and finishes more than 1 billion documents a year.  TIM can be optimised for your ERP or accounting system, to maximise straight through processing. 

Rapid implementation, rapid results
Implementation is typically complete in three months, and typical payback can be achieved in less than a year. TIM is ideal for (but not limited to) multi-national finance shared service centres seeking to optimise their accounts payable process.

For further information or to conduct a fast, low cost finance back office health check to identify potential ROI, guaranteed savings and implementation schedule, please contact us via email.