Do You Have a Supplier Invoice Policy in Place?

SAP Concur published an article emphasizing the importance of a supplier invoice policy. An effective policy can reduce time spent approving and processing invoices, handling exceptions, and storing and retrieving documents. The article suggests the policy should include a statement of purpose, company expectations and compliance, areas of ambiguity, and consider purchase orders, invoice coding, approvals, retention periods, and payment terms. Automated invoicing software can further improve efficiency and control spend.