Minimize manual handling of invoice data with the robot. A smart algorithm that takes over time-intensive, repetitive tasks from team members. It automatically matches paper or electronic invoices with contracts, purchase orders and deliveries.
The robot needs data to work. It achieves the best results with e-invoices, as they are data already. Robotic Accounting also works with paper and pdf invoices. OCR-as-a-Service reads them for you.
Based on the available data, the invoice robot searches for a match of the invoice to a receipt, contract or purchase order. Or it will book the invoice based on a defined booking default for the supplier.
The robot then checks the invoice for discrepancies. In case of a mismatch, the robot puts the document in the worklist of the responsible person for review and correction. If it doesn’t find a mismatch, the robot processes the document automatically with no human interaction.
Invoice Processing assists the organization to receive as many invoices as possible in e-invoice format. We add you to our e-invoice hub and invite your suppliers to send you e-invoices.
The many variations of e-invoices present a challenge to organizations working with them. For XML alone more than 50 exist. The WorkFlowWise e-invoicing hub resolves the issue.
The e-invoice hub is a kind of social network for exchange of electronic invoices. Sender and receiver — your vendor and you — are both members of the network. The e-invoice hub converts all file formats your suppliers deliver into one common format that Invoice Processing understands.
By connecting as many of your suppliers to the e-invoice hub as possible you can process invoices efficiently. We connect new suppliers to the hub at no charge, and they incur no costs to send you their e-invoices.
For those invoices still received in paper and pdf format we offer OCR-as-a-Service because we believe you should not have to spend time and energy setting up invoice-data recognition yourself.
Spend Management comes with integration to import pdf invoices received via email. The OCR-as-a-Service recognizes data on the header and line levels and uses this data to match the invoice or code it.
With OCR as-a-Service comes auto-update of your supplier master data. When the app finds new supplier data on an invoice, it will propose adding the new information to the supplier data. This saves your administrators time; they just need to check the proposed supplier data.
Spend Management also supports segregation of duties. A team member can either update supplier master data or approve changes made by colleagues. This prevents undesired (potentially fraudulent) changes to supplier master data.
The application can work intelligently with data from OCR-as-a-Service and from e-invoices. It matches an invoice with the associated purchase order, contract and receipt registration. Alternatively, it processes invoices based on predefined booking settings for the supplier.
During implementation, you list the booking defaults per supplier, including the possibility of distribution to multiple lines.
The robot books full matches, and small differences within the set margins, right into the ERP system.
The invoice robot follows its logic in this order:
Spend Management sends invoices automatically to the appropriate team members for approval, based on the approval matrix configured during implementation.
The approval matrix lists all users, their approval limits and the entities — cost center, ledger account, supplier, or project — for which they can approve invoices. The approver’s worklist will show the invoice ready for approval and will also receive an email notification. The frequency of these email notifications can be adjusted. After final approval, the app posts the invoice to the financial system.
With the WorkFlowWise mobile app, you can approve invoices wherever you are. Convenient when on the go.
Spend Management completes a payment check at the end of the workflow. It verifies the payment advice list from the ERP system against the invoices in Spend Management. This automatic check verifies the bank account, the approvals, and the amount. It also looks for double payment, all to prevent any possible error.
The app recognizes the details of the invoice. Coding and booking of invoices are simple and hands-free.
The administrator just approves or corrects the proposal.
You can easily look them up in the digital archive
The information readily available includes comments, audit trails, invoice images and attachments.
The app compares the proposed payment in the financial system (the payment advice) to the invoice information.
The app checks the amount, bank account, and approvals before final payment.
Get full control of company expenses with the complete procure-to-pay application for finance and purchasing departments.
Use all features or choose only the features you need.
Save time and increase accuracy with automation of tasks. Automatically match invoices with deliveries, purchase orders, and contracts.
Automate and control your business functions like contract registration, approval, renewal, and more. Gain a central overview of all your business commitments.
Get instant insight and tight control of the budget. Track available funds and make informed decisions on every order, contract and invoice reviewed for approval.
Simplify claims approval and management. Approved expense claim reports are automatically exported to the financial system for reimbursement to the employee.