Invoice processing

Then the clerk classifies and sorts the invoice into various categories (e.g., by vendor, by transaction type, or by department).

A manual invoice process can sometimes exceed fifteen steps before the final posting is done.

The benefits of an automatic processing workflow may include reduced human error, on-demand reports, and data resilience.

Most automation software today integrates into common organizational ERP systems such as SAP, Microsoft, and Oracle.

This matching process can compare just the invoice data with that shown on the purchase order or be expanded to include a deeper level that looks at the receiving documents.

Workflow steps can be configured such that the responsible person will then receive an email alert so that he or she can approve the invoice.

Some intelligent engines are able to correctly sort batches on the fly, locate data fields such as invoice and PO number, as well as line item information, and then extract the desired content from those data fields.

This helps the system scale to large invoice volumes and widely varying document layouts without requiring a human operator to specify a template for each one, or explicitly create and tune an extensive library of keywords.

Depending on the process design, the invoice should be identified, categorized, filed and matched against a PO by the person who was responsible for the order.

The problem with this process is the lack of comprehensive cost management, which should involve the following checkpoints and controlling points: Comprehensive invoice management processes, therefore, shall involve the above-mentioned checkpoints in order to ensure that no fake suppliers can issue an invoice and get paid.