The Problem with Manual Invoice Processing
Manual invoice processing costs $15-$40 per invoice and takes 10-15 days on average. Errors, lost invoices, and approval bottlenecks result in late payments, missed early payment discounts, and strained supplier relationships.
How Invoice Automation Works
- Capture — Invoices received via email/portal are automatically extracted using OCR
- Validate — 3-way matching against PO, goods receipt, and invoice data
- Route — Exceptions flagged; clean invoices auto-approved based on rules
- Pay — Scheduled payments optimized for early payment discounts
- Track — Real-time payment status dashboard for buyers and suppliers
Impact of Invoice Automation
- 80% reduction in processing costs
- 3-5x faster invoice cycle time
- Near-zero duplicate payment risk
- Capture early payment discounts (2-3% savings)
Millisave AP Automation
Millisave auto-generates invoices from approved POs, matches them against goods receipts, and routes exceptions for review — reducing your invoice processing time from days to minutes.