Straight-through invoice processing

January 31, 2019

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Q. We are implementing straight through processing (STP) in our invoice processing software. I'm curious if there is a best practice approach to calculating the cost per invoice when using STP.  A. (from the IOFM Advisory Panel) My advice is to have a cost per invoice for all invoices, and then a cost per invoice process to help the organization understand how valuable it is to have STP vs. a very manual process.  By having a cost for each, it takes the "he said/she said" out of the equation…

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