Why AP Workflow Automation Should Matter to Enterprise
We've talked at length about the meaning and value of "intelligent automation" in accounts payable. Intelligent automation is rooted in accounting systems that deliver built-in intelligence across the customer and supplier landscape, ensuring that, after the first time information is entered at any point in the procure-to-pay process, it will never need to be rekeyed and instead will appear automatically as work and data flow.
For all its value in helping organizations introduce visibility into accounting processes and identify system breakdowns, automation truly becomes intelligent when integrated with the AP department's workflow according to established business rules. Why does workflow automation matter to enterprise?
- Leveraging a permission-based interface, AP leaders and staff can immediately establish and modify routing and approval rules among AP staff. They can adjust those rules according to specific customers, suppliers and other stakeholders, boosting customer service and satisfaction.
- Once modified, newly designated approvers can be regularly reminded via e-mail about invoices awaiting their action. The best solutions also allow alternate approvers to be designated and notified if primary approvers are absent.
- Optical character recognition (OCR) can enable invoice text to be scanned for keywords matching customer and supplier information stored in individual records. Once the correct customer or vendor is identified, the document can be updated and conditionally routed for processing via e-mail according to established rules.
For more on the power and value of AP workflow automation to enterprise, contact us.
