- ROI of 1 year.
- Saves time, cost, efforts, and even man force handling.
- Helps build a strong relationship between the organizations and their suppliers with on-time payments schedules and highly efficient invoice handling process.
- Highly customizable and efficient approval workflow structure.
- Brings to plate Dynamics AX account arrangement with new, enhanced dimension validation scheme.
Of the many things essential to an organization, invoice approval process tops the list. It covers almost every department and purchase orders of all sizes. Handling them with utmost precision is the key to a successful business running. Manual data entry system is typical to approximately 70% of the companies today. But at the same time, it is slow, time-consuming and errors prone. Hence, making a shift to automated processing today has become imperative.
Manual vs Automated Invoice Process
To state an example, most invoices generated in an organization do not reach the end of the process. They sometimes fail due to the presence of a plethora of common problems. This is especially seen when there are many touch points in an invoice generation – its point of preparation, routing, physical data entry, and errors corrections. All of these not only delay the process but also increase the risk of faults to manifold.
Automating the entire invoice process, on the other hand, aids in eliminating approximately 95% of these errors. It’s easy to scale up without even increasing workforce, routing of documents becomes easy, eliminates duplication of payments, reduces invoice related disputes and even creates a simultaneous audit trail for easy understanding of business reports in future.