Timely invoice approval with Invoice Workflow

Jan 27, 2016 6:00:17 AM

Automated approval routings, reminders, and a web client in Invoice Workflow ensure timely invoice approval

The invoice approval process in To-Increase Invoice Workflow for Microsoft Dynamics AX is designed to be fast, consistent, and easy for everybody involved. Approvals is also another area where the solution speedily generates the ROI that companies experience from it. With automatic routings, reminders, web client approval capabilities, and delegate approvers, finance managers can ensure that approvals take place promptly within the invoice management process they have set up.

Automatic invoice approval request routing within and outside of Microsoft Dynamics AX

In To-Increase Invoice Workflow, you have the option of sending captured purchase invoices automatically and immediately to an approver if there are no discrepancies in values, although many companies have their accounts payable managers review them first. Cost invoices, on the other hand, often come to accounts payable first, where they are recorded in the general ledger, reviewed, and forwarded for approval. However, you can also have them automatically routed to the approvers on record before any other steps happen. Accounts payable managers can configure and review the Invoice Workflow invoice pool for an instant update on, for instance, all received, forwarded, approved, open, and posted invoices, and filter on the status column in invoice lines to find any invoices at a certain stage. What’s more, they can see all invoices across all companies, or check on the invoice pipeline for any approver. Approvers access a similar, but less feature-rich screen to keep track of just those invoices within their responsibility.

Invoice approvers receive an automated email when they need to handle approvals, which they can do on their desktop, laptop, or tablet computers. A link in the mail connects approvers to a web client for approvers who are not working in Microsoft Dynamics AX. As long as they have connectivity, they can register their approvals that way. For accounts payable managers, setting up the mails and approval options for individual approvers or groups of approvers is a straight-forward task.

Easy-to-use approver screen and delegate approvers to keep the process going

You can configure invoice approval screens such that they display an image of each to-be-approved invoice for easy review by the approver. Instead of approving invoices, approvers can change the invoice status to one of the available options or redirect them to other approvers, who may have the procuration limits or authority required. Notes left by them for these second-tier approvers become part of the invoice record, replacing handwritten, easy-to-overlook notes on invoices or Post-it notes. In addition, finance managers and approvers can save documentation and files with any invoice.

When an approver is out of the office or not available for another reason, that person’s invoices can be automatically redirected to a designated substitute approver for a set period of time to avoid any delays in invoice handling. If approvers do not complete their invoice approvals in a timely manner, Invoice Workflow can send them an automatic reminder, which is easy to set up by using an email template in Dynamics AX. The reminder email once again includes the link to the external web client for invoice approvals.

Timely approvals in enterprises that comprise multiple legal entities

One instance of Invoice Workflow can serve businesses that maintain multiple companies or other legal entities under a single corporate umbrella. Invoice routings to approvers can go across organizational borders within an enterprise, and approvers can review their list of invoices and open invoices from any legal entity. In addition, accounts payable managers can easily split invoice lines among departments or legal entities, so they can get posted in different ledgers with distinct sets of dimensions, and each of them can be approved by the right person.

Once an approver has approved an invoice, Invoice Workflow records that fact in the vendor account and ledger accounts in Dynamics AX, and posts its amount under vendor and project transactions as well.

As we discussed in the previous post, companies already incur substantial savings and efficiencies by automatic approvals of invoices that fall within certain parameters. The reliable, fast invoice approval that becomes possible with Invoice Workflow augments that effect.

If it looks like Invoice Workflow has benefits potential for your business, please get in touch to arrange a demo or have your questions answered. Send me an email at mchapman [at] to-increase.com or contact To-Increase.

In the next post, we explain how Invoice Workflow handles two-way and three-way matches between POs, invoices, and deliveries.

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