B2B Payments

e-Invoicing Pushes Local Government Efficiency

The Thurrock Council is looking to its new e-invoicing program to help it reach its lofty procurement savings target  of £900,000 ($1.5 billion) .

Between 2012 to 2013 Thurrock processed around 70,000 invoices, two-thirds of which were processed by the local authority for less than £500 ($837). With the new system purchase orders and invoices will be generated online in a sinlge location, with less chance of keystroke and other handling errors slowing down processing and increasing cost.

In the past, “all those relatively small payments represented less than 5 per cent of the council’s spending with suppliers, but the smallest invoice required as much processing time as one for a million-pound project” explains Kathryn Adedeji, Head of Commercial Services at Thurrock Council, reports Share Service Link. The new program time saving can “ensure the council receives all the discounts available for rapid payment.”

Since becoming a requirement at the end of April, the e-invoicing service has seen a sharp uptick in local use.

 

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.

Click to comment

TRENDING RIGHT NOW

To Top