Paystream Voices » Why do companies still use paper invoicing?

Why do companies still use paper invoicing?

Posted in PayStream Analyst, B2B Credit and Collections, Purchase to Payment, Contributed, Voices by Lisa Peterson on March 14th, 2008

Lisa Peterson - PayStream

In today’s world, almost anything can be done electronically: banking, buying clothing, and even ordering take out! It seems like everyone is doing everything that they can electronically.

It makes me wonder then why many large companies with enormous staff, divisions, and revenue still choose to use paper invoicing? All that paper is labor intensive and inefficient; it only slows down the organization’s business-to-business accounts payable payments.

Human beings are creatures of habit. It often takes some persuading, question and answer sessions, opinions from family, friends, colleagues and a little bit of research for a human to make a decision that can affect them or the work they do.

People in some innovative companies have accepted change and use change as a competitive advantage. Technologies like discount management and supply chain finance have created lower DPOs, DSOs and lower unit costs for these companies by automating the payment exchange process, related documents and other information between buyers and sellers. The majority of large organizations are investigating or putting in place Supply Chain Finance and or discount management programs to improve financial metrics and lower end-to-end costs.

Often wonder how the early adopters got started? How they made the change from paper to electronic to working capital optimization? PayStream Advisors, Inc. is hosting a conference this June (9 – 11) in Orlando, Florida that can address your concerns and your fears. It is a two-day educational conference focused on invoice efficiency and working capital optimization in Purchase-to-Pay automation. It will focus on electronic invoicing, discount management and supply chain finance.

Here you can attend educational seminars with conference faculty, network with your fellow financial colleagues and attend roundtable sessions where you ask questions and receive answers. Learning new ways to revamp your current accounts payable processes will be the next step in building your company’s bridge between working capital and AP efficiency.

Accommodations
PayStream Summit 2008 has reserved a block of rooms available to its attendees at Loews Portofino Bay Hotel in Orlando, Florida. It is right in Universal Studios and the site of the conference. If you book your room before May 9th, 2008, you will receive a special rate of $189/night! Contact the Portofino at (407) 503 – 1000 and identify yourself as a PayStream Summit attendee to take advantage of the awesome deal. It’s accessible and affordable!

Written by Lisa Peterson - Visit Website

Lisa Peterson's Articles