Challenges of outdated invoice management processes

Whether paper-based or in PDF form, incoming invoices that are processed manually cause high costs, errors, delays, and compliance risks. With its digital invoice management solutions, Konica Minolta helps businesses automate and standardize their invoice processes.  We also ensure that your organisation complies with EU e-invoicing regulations in your region.

Almost half of all companies (48%) process up to 500 invoices every month. For many companies, this means manually comparing invoices with orders up to 500 times a month and entering invoice data manually. What a tedious, time-consuming, and error-prone process! A mix of paper and email invoices makes processing even more difficult. What's more, non-standardized approval workflows can lead to payment cycles being extended or invoices even being overlooked completely. If the processes are also paper-based, they generate high costs in terms of printing, sending, and storage. Correcting errors or disputes requires time and resources and increases operating costs. Added to this are possible fines or penalties for non-compliance with laws such as the EU law on e-invoicing.
 

How digital invoice management works 

Konica Minolta’s digital invoice processing automates and standardizes your invoice processes. The data on incoming invoices is automatically captured, checked, and transferred to common accounting systems (ERP) using text recognition software and intelligent algorithms. They are then forwarded to the right team for approval. 
 

Benefits of intelligent invoice processing

Any company can harness the power of invoice processing automation. You'll discover that Konica Minolta's invoice processing solutions reduce errors and give you more transparency, avoiding bottlenecks and helping to keep you compliant.

No matter how invoices arrive - whether in paper form or as email attachments - an AP (accounts payable) automation solution can deal with them for you. They'll be delivered to the right people fast - using our workflow and routing options.
 

What is electronic invoicing (e-invoicing)?

In the EU, the public sector has been obliged to receive and process electronic invoices since 2019. EU countries are now obliged to introduce e-invoicing in the private sector and some have already done so, with more countries gradually joining in (you can find out more about this in this blog article).

With electronic invoicing, the EU stipulates that invoices must be issued, transmitted, and received in a structured XML format. This means that PDF formats are not permitted, as they do not allow seamless integration into financial systems.

Even though electronic invoicing is increasingly becoming a legal requirement in many EU countries, it also offers many advantages for companies such as greater efficiency, cost savings and improved liquidity, a higher level of security and confidentiality, and much more.
 

Do your invoices arrive on paper or in PDF format?

If your company still receives invoices on paper or by email as PDFs, but your country does not yet have a legal regulation on e-invoicing, you can still benefit from the advantages of electronic invoicing. This is because the M-Files and Document Navigator solutions from Konica Minolta can also create XML files from a scanned or emailed PDF document that are fully compliant with the EN 16931-1 standard and Directive 2014/55/EU. When extracting from the PDF documents, the original PDF file is retained so that both documents can be saved for reference or use.