According to analyst research, the majority of accounts payable departments spend too many hours a week resolving AP issues such as approval delays, late payments, responding to supplier inquiries and invoice disputes. Invoice management software with automated workflow can help AP departments overcome manual invoice processing challenges to reduce costs, speed approvals, increase employee productivity and improve visibility into the entire invoice process, so issues can be resolved quickly or even prevented.
The Hyland accounts payable solution for invoice management automates several AP business processes, including:
- Routing invoices to appropriate business units
- 2- and 3-way matching
- Approval hierarchies
- Dispute management
- Posting information to accounting applications
Workflow offers a rich set of point-and-click configurable rules and actions that allow AP processes to be quickly automated without the need for custom programming. It automates the process of identifying data exceptions, such as missing information and PO mismatches, and can automatically notify the approver to speed exception handling. It can even route invoices back to suppliers when necessary. Managers can also view real-time dashboards that increase visibility into the status of invoice processing, allowing them to identify bottlenecks and adjust workload distribution.
AP invoice workflow where you work every day
Extend invoice processing workflow to the applications you use every day including your ERP system and email. With the OnBase platform, users have access to invoices and related content from their familiar ERP application, financial system, email inbox or mobile device. Once invoices and payments are approved, OnBase also submits payment details to the ERP, saving time and eliminating the need to rekey information.
Benefits of invoice management software
- Reduce processing costs
- Accelerate invoice approvals
- Improve visibility into liabilities and bottlenecks
- Enforce consistent AP processes
- Reduce late payment penalties
Ready to streamline invoice management?
Watch how OnBase streamlines the invoice processing workflow, then contact us to learn more about AP automation with Hyland.