Automated invoice processing is a method of using automation software to extract invoice data, populate the information in an accounts payable system, and process invoice data for accounts payable. Effectively used, automated invoice processing saves valuable time and money for a company’s AP department.

Invoicing software is a system that enables you to automate the routine, but quite often complex, billing functions. This can include invoicing, payment collection, provisioning, dunning, approvals, and customer-event triggers. The goal of an automated billing system is to deliver greater efficiencies by streamlining your billing processes, allowing you to save both time and money.

Using an automated invoice processing system enables companies to improve both vendor relations and customer service with real-time service and accountability. It means digital invoices are a few short clicks away when a customer or vendor calls and customer service is never interrupted by an absent co-worker.

The most advanced automated invoice processing software solutions are capable of integrating with your accounting software while providing superior invoice management. In other words, this technology can take the data from your accounting software and incorporate the data onto its platform, within seconds. This allows it to take care of time-consuming tasks such as data entry, sending out invoices, payment reminders, and collection of payments.

With automated invoice processing, you can improve the accuracy of each invoice, your consistency across invoices, and your process control, reporting, accountability, transparency, and archiving.
Automated invoice system software is designed to manage the entire cash collection process from data gathering to sending invoices. The system contains critical elements of billing such as data input and verification, billing codes, tracking payments, and security.