In an effort to streamline processes and improve efficiencies at the University of Illinois, the Office of Business and Financial Services (OBFS) has implemented a new functionality within iBuy – e-Invoice.
e-Invoice will allow participating iBuy catalog vendors to submit invoice data electronically. e-Invoice will provide a reporting function to analyze direct spend and provide savings by reducing costs for:
• processing the auto-match functionality
• scanning and indexing invoices
• postage and paper for invoices
In addition to reducing costs, e-Invoice will provide savings to the University by improving operating efficiencies. e-Invoice replaces the current manual, paper-based process with an electronic solution.