Reviewing and approving invoices can take days. In many companies, there are different approvers for each part of the payment funnel including invoice and payment amount. Manually approving payments and invoices can be frustrating, especially when approvers are out of the office. Waiting on approvals slows down the payment process, which could lead to late payments.
Automated AP processes expedite approvals, with added rules and restrictions to the workflow. These rules and restrictions eliminate the hassle of reaching out to an approver every month about the same dollar amount threshold. Approvals can also be rerouted in the absence of the approver to keep business running as usual. All approval options are set during implementation for a smooth, efficient process. AvidXchange’s invoice application is designed to mirror your current approval processes and workflows, without all the paper and inefficiency. By automating the process, your company will be able to track invoices electronically, streamline workflows, and have a central repository for any time, anywhere access to invoice data.
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