AP Invoice Processing and Approval
According to the American Productivity & Quality Center, best-in-class account payable teams are saving $8 per vendor invoice processed compared to average companies. ($2 vs $10 per invoice). Our AP Invoice Processing and Approval template will save you time, money and increase your payment accuracy right out of the box.
About this Template
The AP Invoice Processing and Approval workflow dramatically reduces the cost and manual labor associated with processing accounts payable invoices.
- AP clerk receives the invoice electronically, through email or scans a physical document.
- Intelligent Capture reads information to code, classify and prepare for ERP integration with very little handling effort.
- Paperwise automates purchase order matching with tight ERP integrations and thanks to highly accurate OCR, the system can match the PO up to 90% of the time.
- Filing of invoices is 100% automated and paperless through Paperwise and accessible from anywhere at anytime. No more paper, no more waiting for interoffice envelopes and no more lost documents.
- Workflow is automatically initiated in Paperwise and ready inside of an easy-to-use approver inbox.
- Your company’s rules for corporate governance and approvals are automatically applied to determine which approver should review based on invoice amount, departments, roles, vendor categories and more.
- Rules automatically re-route invoices; however, if there is a question or exception, invoices can be rerouted with a single click.
- Paperwise integrates to your ERP and GL for controller’s payment queue or other payment approval process.
Template Benefits
Make Accounts Payable Easy and Efficient
Get started with this workflow today to dramatically reduce the cost and manual labor associated with processing accounts payable invoices.
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