Automated Accounting and Invoice Approval

Invoice Workflow

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

easyap has placed at its clients' disposal the tools for the automation (easyapIP) of all the steps in invoice processing from invoice receipt until its automatic recording in the business management system, optimizing the process of exception resolution and invoice validation through the appropriate synchronization of all parties in the process (provider, buyer, warehouse, finance and approver).

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Benefits of Invoice Workflow

Transformation of fixed costs into variable costs
The identification of exceptions identifies clear points for improvement in associated processes
Increased productivity of those involved in the process, resulting in cost savings
Electronic register of all actions in the process, improving internal control
Reduction in time necessary to resolve exceptions and the approval process
Improves Treasury planning
Visibility of the status of each and every invoice. Automatic assignment of tasks to those responsible based on business rules.

What is easyap Invoices?

An automatic online processing of invoices platform complemented by expert accounting services.

Covering all stages of invoices, with or without purchase order, and automating all invoice matching and approval tasks.

Who is it for?

Companies of any size who want to increase the productivity of their accounts payable department while improving and optimizing the accounting processes of invoices of their suppliers.

Why Use It?

Cost savings of up to 45%.
No startup investment.
Variable cost depending on number of invoices processed.
No internal developments required.

Key Features of the Invoice Approval Workflow

Receipt in various formats.

Possibility to have a unique entrance for invoice independent of their format Invoices can be received electronically or by email, paper...all will have the same entrance. Certified digitalization allows the destruction of paper invoices.

Various output formats, depending, on invoice destination.

Invoices can be sent to an accounting system with a specific file or to an operating system with a different one. Be flexible in the choice of output format.

Invoice approval workflow.

Extendible and with various steps which allow an easy process to one more complex with features such as: account coding, invoice validation circuits, automatic confirmation/matching and exception resolution. Output in an accounting file for ERP, if required.

Web access.

Without system requirements or the need to acquire any type of hardware or software. With just a browser and an internet connection.

Powerful Automatic Matching motor.

Obtain automatic confirmation percentages superior to 90% by using various criteria.

Complete Visibility for the financial area.

Ability to check online and at anytime the state and person responsible for each and every invoice.

All-event Register with user.

Date and time, comments and type of action. Useful information for auditing and action control.

Online archive during the agreed period.

Access to all images/data of all filed archived invoices.

What is the process for automating supplier invoices?

The easyapIP electronic invoicing portal has workflows specifically designed to automate supplier invoices and cover the particular case of processing invoices received from third parties. Below we illustrate the usual invoice circuits with or without orders.

1. Invoice Reception:

Invoice Reception: any format

2. Invoice Validation:

Validation: of different types, formal, duplication, data...

3. Invoice Identification:

Automatic Identification of invoice type: with or without purchase order / other appropriate circuits implemented logically based on invoice information,provider characteristics

4. Invoices with Purchase Order:

Invoices with orders: automatic matching

4. Invoices without Purchase Order:

Invoices without orders: coding and approval

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

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

Coding: accounting allocation, account and elements of analytical accounting(until 5 levels): Automatic based on information in the invoice, provider Manual, with upload from xls

Approval: automatic assigning to one or multiple users (sequence)for electronic signature, based on the company rules easily configurable for provider, amount, cost centre, account...

5. Incident Resolution

Detailed categorization of problem type and automatic assigning to the correct supervisor for resolution. Options for further action depending on problem type

6. Accounting

Automatic creation of accounting notes suitable for the erp

Advanced Invoice Workflow

Coding of Invoices Without Orders

The absence of a Purchase Order requires retrospective approval of the expense. Obtaining this approval involves a great deal of effort and time. This phenomenon occurs frequently in "emergencies," undermining the foundations of internal control. The absence of a Purchase Order encourages ignorance of the occurrence of expenses, leading to surprises.

These are, at a very high level, the steps that information follows in the process of processing invoices without orders, from the entry and verification of invoices to the subsequent payment information.

Matching Invoices with Orders

On average, 15% of invoices processed have exceptions. The cost of processing an invoice with exception is 20 times higher to that of an invoice without incident. In the majority of the cases, it is accounts payable that is charged with dealing with the exception when it does not have the authority to resolve it.

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

Invoice Digitalization and Capture

Current Reality

Usually invoice processing is slow, inefficient and expensive.

Because of great variety of invoices layout and deficient identification of invoice line item detail, even invoice OCR (Optical Character Recognition) technology results are limited when performing automatic data capture.

Our certified digitization proposal

Easyap has found the right balance between technology and human intervention offering optimum and consistent results.

easyap is approved by the Tax Agency for the certified digitization of invoices. This new process eliminates the obligation to physically file invoices, as the digital documents generated meet all applicable tax/legal requirements.