The Topsy-Turvy World Of EIPP: Embraced By Payables Functions
The premise for Electronic Invoice Presentment and Payment (EIPP) is that it benefits suppliers and improves their receivables processes. By removing paper from their processes, suppliers save paper and handling costs, including mailing expenses. It is easier and more efficient for purchasers to pay electronic invoices via electronic payments, which leads to quicker receipt of payments and easier posting to internal accounting systems. While this premise is theoretically true, the reality is that Accounts Payables (A/P) organisations are the ones demanding EIPP.