Invoice processing software streamlines Accounts Payable processes, which include extracting, populating, and managing invoice data. By automating your invoice processing, you can speed up the processing time, reduce the risks associated with manual processes, such as fraud and errors, and enhance your visibility into cash flow.
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You can read an interesting article on AI detecting Accounts Payable fraud in a blog post written by Corcentric.
Simplify your invoice processing and improve visibility by automating manual tasks.
Traditional invoice processing can be quite time-consuming. After receiving a supplier invoice, the accounts payable department must match the invoice with the purchase order and receipt, record it in the accounting system, and code it appropriately. Before any vendor payment can be issued, the invoice must be approved by the relevant employee. Additionally, every invoice must be stored properly for tax and regulatory purposes.
With Zahara invoice processing software, you can:
- Use electronic invoice processing to drive efficiency
- Manage and approve invoices from anywhere
- Immediately send requests to approvers via customised workflows
- Use optical character recognition (OCR) to digitise paper invoices and standardise records
What is an invoice processing software?
Invoice processing software automates the entire invoice lifecycle. It captures, validates, and approves invoices before the payment process begins. By automating these tasks, businesses significantly reduce manual data entry, minimise errors, and expedite the payment cycle.
Key Statistics Supporting Invoice Processing Automation
To highlight the value of automating accounts payable, we’ve compiled relevant data from trusted UK and European sources. These statistics underscore the inefficiencies of manual invoice processing and the tangible benefits automation can bring—from time and cost savings to fraud reduction and return on investment. Each data point below is supported by a reputable source to help finance teams make informed, confident decisions.
| Topic | Statistic/Insight | Source | Link |
|---|---|---|---|
| Average Invoice Processing Time (Manual vs Automated) | Manual: 10.3 days; Automated: significantly reduced processing time | Ardent Partners | Accounts Payable Benchmarks |
| Cost to Process a Single Invoice (Manual vs Automated) | Manual: £4 to £25; Automated: up to 80% cost reduction | AccountingWEB | Real cost to process an invoice |
| Error Rates in Manual Data Entry | 88% of manual accounts payable documents include erroneous data-entry occurrences | MHC Automation | Common Accounts Payable Issues |
| Early Payment Discounts Lost Due to Delays | 60% of companies face late fees due to slow AP processes, missing early payment discounts | Scry AI | The Main Threat to Efficiency |
| Fraud Risks in Manual AP Processes | Manual processes increase the risk of fraud due to lack of proper controls | The Times | Fraud Risks are Real |
| Return on Investment (ROI) for AP Automation | Organizations have realized significant savings of 60-80% over manual processing | Data Bridge Market Research | ROI for Accounts Payable |
Zahara Software
Overview: Zahara’s software is a comprehensive invoice processing system with advanced automation, user-friendly interfaces, and robust integration capabilities. It caters to the needs of UK businesses, making it an ideal choice for those who seek efficiency and accuracy in their financial operations.
Key Features:
- Automated invoice capture and approval workflows
- Real-time budget management and reporting
- Integration with leading ERP and accounting systems, such as Xero, Sage Intacct, Business Central and many more
- Multi-level approval chains with customisable workflows
- Supplier management and self-service portals
Benefits:
- Enhanced Efficiency: Zahara Software automates the entire invoice lifecycle, significantly reducing the time and effort required for manual processing.
- Improved Accuracy: Advanced data capture and validation technologies minimise errors, leading to more accurate financial records.
- User-Friendly Interface: Zahara Software’s intuitive interface makes it easy for users to navigate and perform tasks, reducing the learning curve and increasing productivity.
- Comprehensive Reporting: Real-time analytics and reporting tools give businesses insights into their financial operations, aiding in better decision-making.
- Scalability: Zahara Software is designed to grow with your business, accommodating increasing invoice volumes and more complex workflows as needed.
Why Zahara is the Better Choice:
Zahara combines the best features of leading invoice processing software with additional benefits tailored to the unique needs of UK businesses. Its focus on automation, accuracy, and ease of use makes it an excellent choice for companies looking to enhance their financial operations. Zahara’s real-time budget management and comprehensive reporting tools provide unparalleled visibility and control over accounts payable processes, setting it apart from other systems. The seamless integration capabilities ensure that Zahara can easily fit into your existing financial ecosystem, making it a future-proof solution for businesses of all sizes.
Benefits of using Zahara’s invoice processing software
Implementing an invoice processing system offers numerous benefits to businesses, regardless of size or industry. Here are some of the key advantages:
Increased Efficiency:
Our invoice processing software automates repetitive tasks, allowing employees to focus on more strategic activities. This results in quicker invoice approvals and payments, ultimately reducing the processing time.
Error Reduction:
Manual data entry is prone to errors, leading to costly mistakes. Invoice processing software uses advanced technologies like OCR and AI to capture and validate data accurately, minimising mistakes and discrepancies.
Cost Savings:
Automating invoice processing reduces the need for manual labour, resulting in significant cost savings. Additionally, faster processing times can lead to early supplier payment discounts, further enhancing savings.
Improved Compliance:
Invoice processing ensures compliance with local regulations and corporate policies. They provide audit trails, real-time reporting, and tax compliance features, reducing non-compliance risk and associated penalties.
Enhanced Visibility and Control:
These systems offer real-time insights into invoice status and overall cash flow. This visibility allows businesses to make informed financial decisions and better control their accounts payable processes.
Scalability:
As businesses grow, their invoice processing needs become more complex. Invoice processing software can quickly scale to accommodate increased invoice volumes and more intricate workflows, ensuring continued efficiency.
How to Choose the Right Invoice Processing Software
Selecting the correct invoice processing system is crucial for maximising the benefits mentioned above. Here are some factors to consider when making a decision:
Integration Capabilities:
Ensure the system integrates seamlessly with your existing ERP, accounting, and financial management systems. This will facilitate smooth data flow and reduce the need for manual data entry.
User-Friendly Interface:
A system with an intuitive and user-friendly interface will be easier for your team to adopt and use effectively. Look for software with a clean, well-organised interface and comprehensive training resources.
Customisation Options:
Every business has unique needs and workflows. Choose a system that allows customisation to match your specific requirements, whether setting up approval hierarchies or designing custom invoice templates.
Security and Compliance:
Given the sensitive nature of financial data, security is paramount. Ensure the invoice processing system has robust security measures, including data encryption, access controls, and regular security audits.
Customer Support:
Reliable customer support is essential for resolving issues arising during implementation or day-to-day use. Look for a provider that offers comprehensive support, including phone, email, and live chat options.
Frequently Asked Questions about Invoice Processing Software
Invoice processing software automates the capture, approval, and management of invoices—freeing up your time to do things that actually require brainpower. Will it replace you? Only if your sole job is typing numbers into spreadsheets. If not, it’ll just make you look like a hero for getting invoices paid faster than ever.
Like magic—only it’s powered by OCR, workflows, and automation instead of wands and wizardry. Zahara scans your invoices, extracts the data, routes it to the right people for approval, and keeps it all neatly logged. No paper piles. No wild goose chases for PO numbers. Just control, visibility, and a serious productivity upgrade.
ahara is like the Swiss Army knife of AP automation—packed with features but tailored for UK businesses. Real-time budgets? Got it. Multi-level approvals? Yep. Integrations with Xero, Sage, and Business Central? Absolutely. Plus, our interface won’t make your team cry (unless it’s tears of joy).
Of course. Zahara is fully cloud-based, so you can manage approvals on your laptop or phone while pretending to write your novel. Approving invoices on the go? That’s peak productivity—with caffeine.
Let’s not jinx it, but automation definitely helps. With Zahara’s digital workflows and AI-powered OCR, it’s harder for dodgy invoices to sneak through. And yes, AI can spot fraud better than Steve from accounting (sorry, Steve).
Not compared to the cost of paying duplicate invoices or missing early payment discounts. Zahara offers transparent pricing that scales with your business. Think of it as hiring a super-efficient assistant—for a fraction of the cost and zero sick days.
You won’t need a PhD in IT. Zahara is designed to be set up quickly and easily. Most teams are up and running in days, not weeks. You bring the invoices; we’ll handle the rest.
Absolutely. Zahara is built with enterprise-level security, encryption, and compliance in mind. Your invoice data is safer than a biscuit tin at a weight loss meeting.
Yes! Whether you process 50 or 5,000 invoices a month, Zahara scales with you. So you can start small and build big—without changing systems mid-flight.
We’ve got a friendly support team that actually answers emails. Plus, you can always schedule a call and ask us in real-time. We don’t bite.
Try out the future of AP, register a Zahara trial for FREE.
Try Out ZaharaInvoice Processing Software Conclusion
Invoice processing systems are indispensable tools for modern businesses in the UK. They offer a range of benefits, from increased efficiency and error reduction to cost savings and improved compliance. By automating the invoice lifecycle, these systems free up valuable time for employees, allowing them to focus on more strategic tasks.
The leading invoice processing systems, such as Zahara Software, Kofax AP Agility, SAP Concur, Tipalti, Sage Intacct, Xero, ApprovalMax, Dext, iComplete, and Lightyear, offer a variety of features tailored to meet businesses’ diverse needs.
When choosing the right system for your business, consider integration capabilities, user interface, customisation options, security, and customer support.
Investing in a robust invoice processing system is a strategic move that can significantly enhance your financial operations, providing greater control, visibility, and efficiency. By adopting the right invoice processing software, businesses in the UK can streamline their accounts payable processes, reduce costs, and stay competitive in an increasingly digital landscape.
This comprehensive overview of the leading invoice processing systems serving the UK highlights these tools’ essential role in modern financial management. By integrating advanced technologies and offering a range of features, these systems help businesses of all sizes achieve greater efficiency and accuracy in their invoice processing workflows.
