When you evaluate a Document Management solution to automate invoice processing, you’ll have a lot of questions.
This blog post describes the essential aspects of digitizing these processes. Once you have a good grasp of how accounts payable systems are automated, you’ll have the working knowledge you need to make an educated decision and choose the right solution for your organization.
What Exactly Should Your Invoice Processing Solution Do?
Your solution should enable these key functions:
- Capture of invoices from a scanner, MFP, email, or drag-n-drop from your desktop
- Validation of invoices based on your defined business processes and rules
- Review of invoices, GL coding, and approval processes
- Approval of invoices by authorized personnel in your organization
- Availability of data for download to be used as input to your accounting system
- Mobile Access to allow authorized personnel to approve invoices from any device at any time
- Integration capabilities that work seamlessly within your IT ecosystem. The invoice processing automation solution should integrate across email, team portals, CRM, ERP, HR systems, and homegrown software.
Error-proofing AP Processing
When invoice processing is completely automated, every step is well defined from data capture to approval to generating a transaction record for posting directly to your accounting or ERP system.
The solution should trigger approval workflows based on your business rules to ensure accurate and rapid processing. It should check mandatory data, purchase orders, duplicate invoices, and onboard new vendors quickly.
The system should also integrate directly with your accounting or ERP system to eliminate duplicate data entry and manual errors.
Read more about invoice processing on the DocuWare blog by clicking here!