Workflow

Streamlining the invoice approval process can drastically alter the way an Accounts Payable department operates.  Electronic routing of invoices can cut the turnaround on approvals by up to 75%, significantly reducing the time between receipt and entry. 

Automated reminders eliminate time dedicated to following up on unapproved invoices.  Tracking the progress of invoices from receipt through payment allows organizations to identify and address bottlenecks that prevent timely approval.  Faster turnaround ensures discount terms can be met and reduces time spent handling vendor inquiries.  Workflow implementations present an ideal opportunity to document and re-evaluate the expenditure approval matrix that exists in an organization.

Visibility allows management to standardize, simplify and ensure that spending decisions are made consistent with desired purchase policies and processes.  The best workflow solutions are easy to setup and maintain as approvers change and approval matrices evolve within an organization.  The end-user experience needs to be simple and intuitive, allowing for quick, easy training and acceptance.  Often an available component of ERP or document imaging packages, many workflow technologies have technical limitations or may not be the best solution for a company with multiple ERP packages or with approvers that do not use the ERP system.  Evaluating the best technology to meet your business objectives and documentation of desired processes is critical to ensuring a successful implementation.