Automated Accounting and Invoice Approval

Invoice Workflow

A comprehensive service model that covers all steps of the invoice processing (invoice approval workflow) including accounting and administrative applications and services.

easyap provides its clients with the easyapIP automation tools for all steps of the invoice process, from invoice reception to its automatic posting in the enterprise management system, optimizing the exception resolution process and invoice verification through timely synchronization of all process actors (supplier, buyer, warehouse, finance, and approver).

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Benefits of Invoice Workflow

Transformation of fixed costs into variable costs
Exception categorization identifies clear points of improvement in associated processes
Increased productivity of process actors, leading to cost savings
Electronic record of all actions in the process, promoting internal control
Reduction in exception resolution times and in the approval process
Facilitates Treasury Planning
Visibility of the status of each and every invoice. Automatic assignment of tasks to responsible parties based on business rules.

What is easyap Invoices?

An online platform for automating the invoice process, complemented by expert accounting services.

Invoice cycles with and without purchase orders, automating tasks of matching/conformity, exception resolution, coding, approval, and invoice posting.

Who is it for?

For businesses of any size that wish to increase the productivity of their accounts payable departments and improve and optimize supplier accounting processes.

Why Use It?

Cost savings of up to 45%
No Initial Investment.
Variable cost based on the number of invoices processed.
No internal development required.

Key Features of the Invoice Approval Workflow

Reception in various formats.

Possibility of having a single invoice entry channel regardless of the format of each invoice. You can receive electronic invoices, via email, paper… all will have the same entry channel. Certified digitization that allows the destruction of paper invoices.

Various output formats, depending on the destination of the invoices.

Invoices can be sent to an accounting system with a specific file or to an operating system with a different one. Flexibility in adapting to the output format.

Invoice approval workflow.

Extensible and with very diverse statuses that will allow for processing from simple to more complex, with functionality for: accounting coding, invoice verification circuits, automatic matching/reconciliation, and exception resolution. Resulting in an accounting file for the ERP, if desired.

Web access.

No system requirements or need to acquire any type of HW or SW element. A browser and an internet connection are sufficient.

Powerful automatic matching engine.

Which, by using various criteria, allows obtaining automatic matching percentages exceeding 90%.

Complete visibility for the finance department.

Being able to know online and at any time the status and responsible party for each and every invoice.

Log of all events with user.

Date and time, comment, and action type. Very useful information for audit and action control purposes.

Online archiving for the agreed period.

Access to images/data of all archived invoices.

What is the supplier invoice automation process like?

The easyapIP e-invoicing portal features workflows specifically designed for supplier invoice automation and to cover the particular processing complexities of third-party invoice reception. Below, we illustrate the common invoice workflows with or without a purchase order.

1. Invoice Reception:

Invoice Reception: any format

2. Invoice Validation:

Validations: of different types, formal, duplication, data…

3. Invoice Identification:

Automated invoice type identification: with or without purchase order / other specific workflows logic implemented based on invoice information, supplier attributes

4. Invoices with Purchase Order:

Invoices with purchase order: automatic matching

4. Invoices without Purchase Order:

Invoices without purchase order: coding and approval

Comparison against purchase order (comparison of purchase order number and amounts).

Comparison against purchase order and delivery note: purchase order number, delivery note number, units, unit price, and any other element.

Coding:
accounting allocation, account, and analytical accounting elements (up to 5 levels):
Automatic based on invoice information, supplier
Manual, with upload from xls.

Approval: automatic assignment to one or more users (sequence) for electronic signature, based on business rules easily configurable by vendor, amount, cost center, accounting account…

5. Incident Resolution

Detailed categorization of the problem type and automatic assignment to the correct person responsible for its resolution. Action options based on the problem type

6. Posting

Automatic creation of accounting entry adapted to the ERP characteristics

Advanced Invoice Workflow

Coding of Invoices Without Purchase Order

The absence of a Purchase Order requires post-hoc expense approval. Obtaining this approval involves a lot of effort and time. This phenomenon often occurs in “urgent” situations, undermining the foundations of internal control. Without a Purchase Order, there is a lack of awareness regarding expense occurrences, leading to unpleasant surprises.

These are, at a very high level, the steps that information follows in the invoice processing workflow without a purchase order, from invoice entry and verification to subsequent payment information.

Invoice Matching with Purchase Order

On average, 15% of processed invoices have exceptions. The cost of processing an invoice with an exception is 20 times higher than processing an invoice without an incident. In most cases, accounts payable is responsible for handling the exception when they do not have the authority to resolve it.

These are, broadly speaking, the steps that information follows in the invoice processing workflow with a purchase order, from invoice entry and verification to subsequent payment information.

Certified Digitization and Invoice Capture

Current Reality

Typically, the way invoices are processed is slow, inefficient, and expensive.

Driven by the wide variety of invoice formats and the insufficient prediction of the structure in the detail lines, even OCR (Optical Character Recognition) automated invoice capture technology still fails to adequately solve this activity.

Our certified digitization proposal

easyap proposes a solution based on an adequate balance between technology and the dedication of specialized personnel. We provide the digital image and the invoice data.

easyap is approved by the Tax Agency for the certified digitization of invoices. With this new process, the obligation of physical archiving of invoices is eliminated since the generated digital documents meet all required fiscal/legal requirements.