Driving Dealership Success: Decoding Purchase Orders
Managing accounts payable (AP) processes in heavy trucking dealerships requires meticulous attention to detail. From parts and maintenance services...
3 min read
DocuPhase
:
Jun 20, 2024 4:27:56 PM
Imagine a dealership where every day begins with a flood of invoices—papers stacked high, emails overflowing, and crucial details lost in the shuffle. For many dealerships, this scenario isn’t just a challenge—it’s a costly reality.
Managing invoices is a universal challenge for dealerships. Most processes are highly manual, heavily paper-driven, and time-consuming, costing an average of $13 or more per paper invoice. The reason for this high cost? Labor.
The manual steps involved in data entry, verification, routing, and approvals can drive costs up to $40 per invoice. However, the financial impact goes beyond labor expenses. Errors in data entry, missing line items, and pricing discrepancies can cost upwards of $50 per invoice to rectify, causing significant delays and bottlenecks.
Let’s dive into why managing invoices manually is so expensive, exploring not only the hidden costs but also the comprehensive benefits of automation.
Did you know? "Businesses that pay their invoices on time due to automation report a 30% improvement in vendor satisfaction and relationships." - Ardent Partners' "Accounts Payable Metrics that Matter in 2021" report.
Simplifying the Invoice Lifecycle with Automation
To address these challenges, dealerships are increasingly turning to automation to streamline the complete invoice lifecycle, from buyer to supplier. Here’s how automation modernizes invoice management:
Here’s how automation goes beyond cost savings to deliver substantial benefits:
DocuPhase offers a comprehensive suite of solutions designed to close the loop on the invoice-to-pay process. Whether you’re looking to digitize your process-critical documents or fully automate matching and approvals, DocuPhase provides the tools and support needed to transform your dealership’s invoice management.
By leveraging DocuPhase’s automation solutions, dealerships can significantly reduce the costs associated with manual invoice processing, improve accuracy, and enhance vendor relationships. In an industry where efficiency and reliability are key, invoice automation is not just an option but a necessity for staying competitive.
Ready to streamline your dealership’s invoice processes? Request a demo today and take the first step towards a more efficient and profitable dealership.
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