Invoice Approval Software

Approval Donkey has helped play a role in this both for Aktive and the organisations it supports. By using the Approval Donkey integration with Xero, Aktive has seen a time saving of around an hour per week for each member of its 28 staff, as well as now having a more robust invoice approval process. Reduce AP risk with invoice approvals. Set up customized approval channels for your team. Reduce the risk of duplicate payments, errors, and fraudulent activities by ensuring only the right invoices.

Invoice Approval Software

Any time your company makes a purchase, the corresponding documentation has to make its way through Accounts Payable. Your processors can use purchase orders to confirm most of those transactions, although a manual invoice approval may be necessary if you don’t have a purchase order for a particular item. For many companies, though, this process can be slow and tedious.

With workflow automation software from IntelliChief, you can spend less time on manual AP approvals. In fact, you can process non-PO invoices directly from IntelliChief – no emails, inter-office mail, or printed-out forms necessary.

Why Are Invoice Approvals Necessary?

Even though they’re time-consuming, invoice approvals are a common practice for good reason: they prevent unauthorized charges from getting paid. Many companies also need to keep a comprehensive paper trail for their Accounts Payable audits, noting each transaction and the employee that approved it.

With that in mind, the approval process isn’t going away any time soon. But, many companies are modernizing their approach with Robotic Process Automation (RPA) software for faster and more efficient workflows.

Automated Invoice Matching and Approval Software

IntelliChief’s AP automation software automatically collects and validates your supplier invoices. Syncing with your ERP, IntelliChief locates each invoice’s corresponding purchase order and receipts, then confirms that all the charges are correct. If there are no errors, IntelliChief “robots” move each invoice through to payment.

Invoice

Invoice Approval Software

In the case of a non-PO invoice that requires a manager’s approval (or needs to be assigned a GL code), IntelliChief can be route the documents to the right person automatically. Your employees can review and approve (or deny) their invoices anywhere – even on a mobile device. They can even code invoices from their normal workflow without having to log into their ERP.

When your employees aren’t in the office, you don’t have to worry about delays. If the designated approver or coder is away, IntelliChief can route the invoice to another employee (based on custom pre-determined business rules) so that you can pay the vendor and close out the transaction right away.

You can also use IntelliChief to:

  • Assign individual supplier accounts to specific Accounts Payable processors
  • Set the amount that each employee can approve
  • Automatically send reminders if an invoice hasn’t been approved after a specific period of time
  • Create controls that prevent duplicate payments

Creating your invoice approval workflows is easy. Even if you have a complex, multi-step workflow, our program’s simple interface makes new processes simple to lay out.

Posting Approved Invoices to Your ERP

Once you’ve processed an invoice, you shouldn’t have to spend even more time manually entering it into your accounting software. IntelliChief consolidates that workflow as well. Our invoice automation solutions can send your transactional data directly to your ERP, even helping you create vouchers and schedule payments based on each invoice’s due date. Any invoice processing task performed by your team can be emulated and accelerated with our advanced RPA technology.

Discover What a Simpler Accounts Payable Process Could Look Like With IntelliChief

More early payment discounts. Lower invoice processing costs. Complete visibility into each transaction’s status. All of this is easily achievable with Accounts Payable automation.

To see how IntelliChief has helped companies like yours transform their AP departments, visit our Resource Library and download one of our peer-to-peer case studies. Or, contact us today for more information about our ERP-integrated invoice approval software.

So, if anyone out there is using Office 365 and has not automated (or is paying a ton to do so) their vendor invoice approval process, welcome Microsoft Flow. Using your existing Office 365 subscription in conjunction with SharePoint and Microsoft Flow, you can achieve a robust invoice automation system with minimal costs to your organization. If you currently don’t own these technologies, signing up for them can literally be a matter of a few bucks per month.

SoftwareInvoice Approval Software

So What Exactly Do You Mean By Invoice Automation?
It is a buzz word that gets thrown around a lot. From our perspective, Invoice Automation comes down to three main areas, namely receipt of the invoice from the vendor, workflow for review and approval, and integration with Dynamics for payment processing. Let’s look at each of these functions separately and explore how Microsoft Office 365 can streamline them.

Invoice Receipt
So, the goal here is to make it easy for a vendor to get an invoice to you. The first answer that comes to mind is email submission. The issue with email is that typically the account is associated to one person and doesn’t offer a lot of visibility for the rest of the company. Don’t worry, Microsoft Flow and SharePoint to the rescue. A Flow can be setup to take an email from any inbox or alias, say [email protected], and move it to a SharePoint document library. This library will provide the control, versioning, visibility and management for everyone to see the invoices that have been submitted for payment. A template already exists for setting this up. Details can be found here: https://us.flow.microsoft.com/en-us/galleries/public/templates/f7a46809e53c42108034e56acf83bb79/save-my-email-attachments-to-a-sharepoint-document-library/

If you’d prefer invoices to be submitted from your website, mobile app, or vendor portal, those are all options as well. In each of these scenarios the invoice still makes it way to the SharePoint document library.

Workflow
After a vendor has submitted an invoice for payment, the typical next step is that it needs to be reviewed by managers or accounting. Flow is a perfect tool for this as well. Email or mobile app notifications and approval tasks can be generated and assigned to the appropriate reviewers.

Your resulting flow will look something like this:

Payment
Now that the invoice has been submitted and approved, it is ready for payment. At DynamicPoint we focus on using Microsoft Dynamics to accomplish this objective. Our EasyAP365 product will bring the invoice directly into the SharePoint App dashboard for automatic assignment to vendor templates, including GL account distribution. We integrate directly with Dynamics web services to create the invoice and hand it over for payment.

So How Much is this Going to Cost Me?
The good news is if you have Office 365, you most likely already own Microsoft Flow and SharePoint. Even the base Enterprise E1 plan includes both of these technologies: https://products.office.com/en-us/business/compare-more-office-365-for-business-plans If you care to take the approved invoice and automatically bring it into Microsoft Dynamics, DynamicPoint EasyAP365 will be required. More information can be found here: https://www.dynamicpoint.com/easyap365/

Free Invoice Approval Software

What Does the End Result Look Like?After all is setup and complete the resulting process will be an integrated invoice automation system that looks like this:

Invoice Approval Software Uk

By Mike Marcin, DynamicPoint
SharePoint Purchase, Invoice, Expense, EasyAP365& Portal applications built exclusively for Dynamics ERP & CRM Solutions.