Invoice Approvals Managed with Integrify Software
Design a custom invoice approval process with software that standardizes your company's best practices.
Invoice approvals at many companies require a slow, manual process that is subject to human error. Whether the approval process is via paper or email, it results in long approval cycle times that slow down the business and requires escalating overhead to keep up with.
In the meantime, managers have little visibility into where bottlenecks are occurring and don't have the proper tools and reporting to audit the process for compliance. Basically, finance managers are flying blind as invoices pile up Downstream, the business suffers from late payments, lost invoices, and cash flow issues.
Your invoice approval process may not be like another company's process but like any other company, you need to automate as much of the workflow as possible. Using invoice approval software like Integrify you can design and implement a completely automated approval process that follows your company's standards and procurement process. Automation and logic follow your specific required business rules including approval hierarchies, escalations, exception handling, and more.
Managers submitting invoices can simply click a dashboard button to launch a new invoice approval, quickly fill in the relevant information, attach any relevant files, and submit. Meanwhile, approvers get alerted to any new requests, can quickly review the information in an email (or within the portal), and can approve, reject, or send the request back for more information.
Limits can be set for invoice amounts, triggering an escalation to a higher authority if needed. Meanwhile, the requester has complete visibility into where their request resides at any time until the invoice is approved or rejected.
Here's one example of an invoice approval workflow:
Integrify customers can download our free "Vendor Invoice Approval & Payment Process" template.
If your process demands the ability to scan hard copy invoices or manage tasks using RTP (Robotic Process Automation) we have a solution using our certified partners to ensure you have access to the latest technologies. Imaging and RTP services can further reduce manual handling of invoices and improve data accuracy.
By automating the AP/Invoice process you can expect:
We have a variety of resources to help you on your journey to an automated workflow.
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