One of the most time-consuming tasks within the accounts payable is to approve invoices on time and to keep track of invoice workflow processes. Hence why automating invoice workflow is paramount for Finance Directors wanting to streamline accounts payable processes.
With companies spending, on average, around 25 days manually processing a single invoice from receipt to payment, efficient invoice automation process is crucial for businesses to maintain financial health and operational agility.
In order to automate invoice workflow processes, Finance Directors using Sage 50, Sage 200, Sage Intacct, or SAP Business One are rapidly choosing PaperLess Invoice Approval as their top choice.
Invoice Workflow Automation, take a look at the video to learn more
Why is PaperLess Invoice Approval becoming the top choice of Finance Directors?
Finance Directors are choosing PaperLess to streamline invoice approval processes because of the seamless integration between PaperLess and Sage and SAP. This integration makes it possible for FD’s to automate invoice approval processes as well as to have a real-time over view of the entire process.
- Automate Invoice Workflow based on supplier, department, project, cost code, nominal
- Keep control over invoice approval amounts and approval thresholds
- Set-up second level approvals and approval limits
- Real-time overview of invoice approval processes
- Lookup of the approval audit trail directly from within Sage and SAP
PaperLess is a Sage Approved Solution fully compatible with Sage 50, Sage 200 and Sage Intacct.
- Click here to visit Sage 50 and Sage 200 Marketplace
- Click here to visit Sage Intacct Marketplace
What are the key components of invoice workflow automation in accounts payable?
- Invoice Capture: Whatever invoice workflow you choose you must ensure that it offers optical character recognition (OCR) so that you do not spend time on manual data input.
- Workflow automation: Workflow automation is key to streamline invoice approval. By having workflow automation rules in place you can ensure that invoices are automatically routed to the correct people and that nothing is posted without being approved first.
- Automatic invoice archiving: Automating invoice filing processes ensures that accounts teams do not have to spend time manually archiving invoices. At the same time this also ensures that you can easily find and retrieve invoices. .
- Automatic Email Processing: With an increasing number of invoices received via email, ensuring that these invoices can be automatically processed is one of the most important factors when automating accounts payable processes.
- Integration with accounting systems: Ensure that whatever AP solution you choose integrates with your accounting system. This ensures that approved invoices seamlessly flow into the system, updating financial records in real-time.
Invoices are crucial for transactions, enabling the exchange of goods and services for payment. However, processing invoices manually can be slow, prone to errors, and resource-heavy. Delays in invoice processing can cause cash flow issues, missed payment deadlines, and strained vendor relationships. Thus, businesses should focus on efficient invoice processing to improve cash flow management, enhance financial visibility, and maintain smooth operations.
Click here to book your free demo of PaperLess Software. Learn why PaperLess is becoming the top choice of Finance Directors to automate invoice workflow.
