Finance Transformation with the KPS CFO Agenda | Instant Invoice Management

Instant Invoice Management

Advanced solutions for the future

Motivation

Invoice Management solutions - a long awaited transformation

There is an urgent need to transform your manual, organisational invoice management processes into workflow-based, digital processes with intelligent data extraction because...

paper-based invoices and manual data capturing increase processing effort

organisational, non-system-supported processes create transparency, slowdown and even document loss

high processing times lead to loss of cash discounts

different input channels and formats leads to heterogenous and unclear processing procedure

a lack of information and missed payment deadlines increase supplier dissatisfaction

process

Enhancing your Invoice Scenario

Every company is different, but one goal is always the same: create added value! Benefit from a real added value with our future-proof end-to-end invoice verification solution. KPS Instant Invoice Management takes invoice verification to a new level, streamlining existing structures and processes through digitalisation.

Invoice Management with automated invoice verification
Invoice Management | Boosting benefits beyond invoices

Before

Workflow-based invoice management

  • Speeds up your invoice management process and saves time and cash discount losses
  • Helps you to handle large volumes through automated data extraction and problem detection
  • Increases process quality and avoids errors through automated validation of legal requirements
  • Optimises and straightens your processes with intelligent machine learning services like feedback-based data recognition, intelligent auto-coding, etc.
  • Increases process control and –transparency with central invoice-, liquidity- and KPI-reports
  • Avoids risk and facilitates regulatory compliance
  • Optimises work balancing and relieves your employees
  • Improves relationship with vendors and your company’s reputation  

after

Boosting your benefits beyond invoices

  1. Intelligent data extraction for additional documents like delivery notes, order confirmations, etc.
  2. Enhanced automation of the P2P-process by integrating new workflow processes e.g. for automatic check and posting of goods receipt
  3. Expansion of your archive from audit-proof storage to a company-wide digital supplier or customer file
  4. Implementation of a central contract archive for the central creation and management of all company-wide contracts
We know that every business is different, but one goal always remains the same: add value! We want our customers to benefit from real added value with our future-proof and seamless end-to-end invoice verification solution.
Axel Beck Partner KPS

Our offering

KPS can help you streamlining and automating your invoice management processes

1. Process analysis and optimisation

Analysing and optimising your invoice management process and detecting bottlenecks
Icon with cogwheel and magnifying glass represents the Invoice Management process analysis

1. End-to-End invoice management

Implementation of SAP integrated End-to-End invoice management processes from invoice receipt to FI-posting based on audit-proofed archived documents
Icon with opposing arrows representing end-to-end Invoice Management

1. Intelligent invoice processing

Realisation of intelligent invoice processing and data recognition processes based on intelligent learning and feedback mechanism for invoices, delivery notes, order confirmations, etc.
Representation of intelligent invoice processing by an icon with invoices and light bulb

1. Cross-border invoice exchange

Implementation of solutions for uniform cross-border exchange of electronic invoices in standardised formats (e.g. xRechnung, FatturaPA)
Representation of cross-border invoice exchange by an icon with a globe and an invoice symbol

1. Contract management solutions

Implementation of company-wide digital supplier and customer files and contract management solutions based on audit-proof archiving solutions
An icon with a handshake stands for contract management solutions in the financial sector

1. Process analysis and optimisation

Analysing and optimising your invoice management process and detecting bottlenecks
Icon with cogwheel and magnifying glass represents the Invoice Management process analysis

1. End-to-End invoice management

Implementation of SAP integrated End-to-End invoice management processes from invoice receipt to FI-posting based on audit-proofed archived documents
Icon with opposing arrows representing end-to-end Invoice Management

1. Intelligent invoice processing

Realisation of intelligent invoice processing and data recognition processes based on intelligent learning and feedback mechanism for invoices, delivery notes, order confirmations, etc.
Representation of intelligent invoice processing by an icon with invoices and light bulb

1. Cross-border invoice exchange

Implementation of solutions for uniform cross-border exchange of electronic invoices in standardised formats (e.g. xRechnung, FatturaPA)
Representation of cross-border invoice exchange by an icon with a globe and an invoice symbol

1. Contract management solutions

Implementation of company-wide digital supplier and customer files and contract management solutions based on audit-proof archiving solutions
An icon with a handshake stands for contract management solutions in the financial sector

Benefits

Real added value with KPS Instant Invoice Solutions

A man in a suit sprints up a flight of stairs | Invoice Management Solutions Benefits

offering

We help you take your invoice verification to the next level

Fast implementation

Up to 90% automatic postings from the start

100% transparency of incoming invoices

Current and future international regulatory compliance

Industry-tailored KPS best practices

Sustainable invoice management solution

success stories

The strategies are confidential, the successes are tangible

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Download Expert Interview

Secure and digital invoice verification processes with KPS Instant Invoice Management

An expert interview with Axel Beck

Axel Beck, expert for Invoice Management Solutions, explained to us in an interview how the digitalisation solution works, what advantages it offers and which companies benefit from its use.

Read an excerpt of the interview here - we offer you the complete interview for downloading.

 

The CFO receives effective support in pursuing his or her goals efficiently and successfully realizing them. The gain: optimized cost control, healthy growth and sustainability.
Axel Beck KPS Partner

Mr. Beck let’s get straight to the point: To introduce the topic, can you briefly define what is meant by “Instant Invoice Management”?

A. Beck: "KPS Instant Invoice Management is a full line solution focused on invoice verification. Starting with invoice receipt, the solution covers the entire invoice verification process. Features include audit-compliant archiving, as well as invoice data capturing with the aid of intelligent components, workflow-based invoice verification for invoices with and without order references, and posting in financial accounting (FI)."

 

What does Instant Invoice Management do?

A. Beck: "Instant Invoice Management ensures that the CFO has access to a fully digitalized and automated invoice verification process. The system underpins efficient, time-optimized processes, which ensures that the terms of payment are used effectively. It delivers a positive impact in that it saves a great deal of time and money. Another important point: process control and transparency make a significant contribution to adhering to existing compliance guidelines. Moreover, predefined reports facilitate the analysis of all the relevant KPIs. The invoice verification process can therefore be optimized on an ongoing basis, allowing costs to be reduced further."

 

So KPS Instant Invoice Management is directly relevant for the CFO?

A. Beck: "KPS Instant Invoice Management is part of the CFO Agenda 2025. This agenda offers content (assets) that has been preconfigured and predefined drawing on best practices, while being geared to the needs and activities of today’s CFO."

Technology

Partnering for Success​

Together with our solution partners, we provide our customers with added value in specific areas to strengthen their competitive edge in the global marketplace.

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Contact

Get in touch to find out more!

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Axel Beck, Partner KPS

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Further knowledge

FAQ Invoice Management


Invoice management is an essential part of the central business processes and is directly linked to procurement and finance processes and structures. The method manages and processes incoming invoice documents from suppliers and vendors.

Invoice management covers the entire invoice verification process, from receipt of invoices via various input channels (scan, EDI, eInvoicing) with associated audit-proof archiving, through automated intelligent invoice recognition to the final posting of invoices in finance.

The total costs of invoice management depend on many different factors. Main cost drivers for the realization of an invoice management process are:

  • the number of paper invoices which must be recognized and extracted automatically
  • the number of invoices which must be processed within an invoice verification workflow
  • the number, variety, and complexity of the different input channels and systems to be connected to receive invoices
  • the variety of different invoice types like invoice with / without purchase order relation, down-payments, leasing invoices, etc.

But with an efficient invoice management process you’re able to optimize processing times, the need for human interaction and of course you can take advantage of payment deadlines and optimize your liquidity planning and so - save money!

An efficient invoice management process reduces processing times by preventing delays and human interaction and so saves time and money. Based on an integrated monitoring, you can make optimal use of payment deadlines and optimize your liquidity planning.

 

As you steadily check your invoice data against your master data, a centralized invoice management process helps improving your master data quality

 

Last not least, doing so with care and thought can help ensure positive and ongoing client relationships and uncomplicated payment.

As invoice management is a highly integrated process, there needs to be a deeply integrated solution that covers the process across all steps and technologies involved. In the SAP context, this means that a solution is needed that is seamlessly integrated with SAP and, in particular, builds on the existing workflow component to send invoices to the appropriate agents in a workflow-driven manner.

As different inbound channels for invoices are an important part of the invoice receipt process, these inbound channels need to be managed by the invoice management solution. The perfect solution therefore integrates and monitors input channels such as EDI, email systems, trading platforms such as Ariba and, of course, all interfaces required for receiving electronic invoices in various country-specific formats (xInvoice, FatturaPA, etc.).

An invoice management process covers all steps starting from invoice receipt through automated intelligent invoice recognition, to the final posting of the invoices in Finance. In detail the process mainly consists of the following steps:

 
  1. Invoice receipt
  2. Automated Invoice recognition
  3. Validation of legal requirements
  4. Logistic Invoice verification for price and quantity differences
  5. Invoice approval for invoices without purchase order relation
  6. Invoice accounting
  7. Monitoring and controlling

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