If you’ve ever considered automating your invoice approval process, you probably noticed there are hundreds of AP automation tools that exist on the marketplace today. It's overwhelming to say the least.
What if you already own an application that can accomplish this for you?
An evaluation of
- Ability to receive an invoice from a vendor in various ways, including email, web site, mobile app, scanner, etc.
- Workflow to route the invoice for approval
- Storage of the documents in a secure fashion that can be managed and reported upon
- Collection of data inputs throughout the approval process that determine how the invoice is to be coded to the proper GL account
- Notifications when documents have not been paid, managers are taking their time to approve and invoices don’t match purchase orders
- Verification if budgets exist and if they have they been exceeded
Why rent an apartment when you already own a house?
What if you already own an application that can do all of this for you? What is that application?
The missing link is the ERP integration and GL coding of the invoice after it has been approved. That is where