#abbyysummit15 (9/10): accounts payable (ap) invoice approval workflows with flexicapture
Post on 22-Jan-2018
432 Views
Preview:
TRANSCRIPT
TechnologySummit 2015
© Copyright 2015 ABBYY Technology Summit
INVOICE APPROVAL WORKFLOWSAaron Tyrrell, CEO, ScanStore
#ABBYYSummit15
TechnologySummit 2015Overview
● Invoice approval is the next step after data entry
● Multi-level approval required + audit trail
● Return on Investment (ROI)
#ABBYYSummit15 2
TechnologySummit 2015Workflow Challenges
1. 1-4 levels of approval required based on amount
2. Require approval on each invoice before next stage
3. Route to approvers based on department
4. Record each approver
#ABBYYSummit15 4
TechnologySummit 2015Multiple Approval Levels
● “Approve” button marks invoice as approved
● Current user and time added to audit trail
● Approval groups based on departments
#ABBYYSummit15 6
TechnologySummit 2015Require Approval at Each Stage
● Rule auto-flags unapproved invoices in process
● Custom script stage clears flag between approvals
#ABBYYSummit15 7
TechnologySummit 2015Workflow Routing
● Lookup table links vendor to department
● Workflow rules based on $ amount
#ABBYYSummit15 8
TechnologySummit 2015Return on Investment
● Reduced processing times by 6 hours/day● Fewer clicks & faster loading● Data entry automated
● Lower management costs● 2 manager hours per week per department across 20 departments
● Faster payment processing● Fewer late payments and less overtime hours needed to catch up
● Verification station licensing makes workflow affordable
Total Savings:
● $75,000/yr annual savings vs. SharePoint workflow● $300,000/yr annual savings vs. paper-based workflow
#ABBYYSummit15 12
TechnologySummit 2015Invoice Approval Workflow Conclusions
● Approval workflow is a necessary step
● Challenges can be overcome creatively
● Provide a complete solution
● Significantly improve ROI#ABBYYSummit15 13
top related