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Are invoice approvals causing payment delays in your accounts payable process?
One of our clients, for example, was looking for a cloud-based AP automation solution that would allow its senior accounting, finance, and procurement managers to review and approve invoices at any time, from anywhere.
For example, while managers were working from their home office or traveling for work.
The challenge is that the company was printing out and stamping paper-based invoices that would get added to a physical folder and get passed around for review and approval by managers.
(Can you imagine someone from Delta running over to you in an airport lobby with a folder and pen to get your approval on a time-sensitive invoice? Not likely.)
And, once approved, the paper-based invoices would be filed, paid, scanned, indexed, and re-filed.
Remote approvals were not possible.
That’s why they reached out to Contexture:
- We digitized their invoices. The AP team now uses our cloud-based app to review and approve invoices at anytime, from anywhere. Any “exception” invoices that are missing required data get flagged for human review and follow-up.
- We removed the need to print and re-scan invoices. The original invoice and the digitized version are available in our secure document management system – complete with a detailed audit log of all document views, opens, edits, approvals, and so on.
- Senior managers really appreciate the ability to review and approve invoices while traveling or working from their home office.
The approval process is now much faster and easier.
If you’re looking to streamline your invoice approval process, or would like to discuss complex, matrix approval workflows, we’d be happy to help.