Finding the best way for effectively managing construction invoices from multiple suppliers can be a challenge and there are different methods available which vary according to implementation costs, supplier on-boarding, installation time and maintenance.
Whereas larger scale businesses, such as buyers in the construction distribution trade, might prefer automated electronic invoicing systems (e-invoicing), a smaller company might find manual processes more suitable; it all depends on the nature and breadth of a particular business.
But what are the benefits and challenges of the main approaches to managing invoices in the construction supply chain? In this guide, we review 5 ways to manage and process construction supply chain invoices, these being:
- OCR Scanning
- XML or EDI invoicing
- Invoice portal
- PFD eInvoicing
We consider the ease of installation, the speed of supplier on-boarding, data accuracy, and the costs involved to both you and your suppliers.
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