Accounts payable approval process

An automatic accounts payable approval process of both PO- and non-PO invoices streamlines and speeds up the invoice approval process significantly while reducing the risk of human error. Rillion’s AP automation solution has a flexible accounts payable approval process with drag and drop functionality and 1-click approvals.

At Rillion we are experts in invoice approval processes

What is invoice approval?

An invoice approval refers to the process of reviewing and approving a supplier invoice for payment. It begins when the buyer has received the invoice and ends once the invoice has been approved by the designated approver.

The approval workflow is an extremely important process to ensure that the invoice is legitimate and to guarantee that there are no discrepancies between the invoice and the original purchase documents.

“We just didn’t have time to manage all the incoming invoices. But since changing to Rillion, we can manage three times the volume of invoices than our previous AP system allowed.”

What does an invoice approval workflow look like?

An invoice approval workflow can look very different depending on the industry and company. A typical approval workflow includes the following steps:

  1. The company receives a vendor/supplier invoice.
  2. The staff member who’s responsible for procuring the specific product or service on the invoice verifies the invoice, often against an associated PO, if there is one.
  3. Any irregularities or exceptions are flagged, such as pricing discrepancies or missing information. The invoice is then forwarded to the designated approver who can correct the errors and send it back into the approval workflow once the issues have been resolved.
  4. The invoice is forwarded to the designated approver(s) who verify that the information and pricing are accurate.
  5. The invoice is approved and sent to the ERP for recording and payment.
  6. The transaction is recorded, including an invoice log and time-stamp by activity, and saved in an invoice archive, establishing a complete audit trail.
Invoice Approval Workflow for businesses
Automatic accounts payable approval process

Manual vs Automatic approval processes

The manual invoice approval process is riddled with multiple process gaps and inefficiencies. It slows down AP processes significantly and is also prone to human error, such as overpaying or underpaying invoices and/or inconsistencies as a result of manual data entry.

Automatic invoice AP processing and approval is a digitized version of the approval workflow. It integrates with your existing ERP, streamlining your invoice approval workflow by automatically directing invoices to the designated approver. That means faster approvals, better visibility, no risk of missing documents, and the reduction of late payments.

The accounts payable approval process in Rillion

Rillion’s AP automation solutions allow you to automate your accounts payable process for invoice approvals, creating faster, smarter and easier approval workflow. Cut your approval workflow cycles times by half through automation and smart functionality.

Automatic PO-matching

Invoices, purchase orders and goods receipts are matched automatically within minutes of receipt. Once matched the invoice is forwarded to the ERP for recording and payment. Exceptions are flagged and sent to the designated approver for reconciliation.

Easy exception handling

Invoice exceptions are flagged and sent to approvers with a complete package of information and data, including the invoice, PO, goods receipt, and all relevant employee messages.

Benefits of an automated accounts payable approval process

  • Automatic notifications and reminders
  • No expensive coding or user licenses
  • Drag and drop functionality for easy ad hoc re-routing
  • Complete overview of the payment and approval status of all invoices
  • Email approvals with one-click functionality directly in your cellphone
  • Approvers clear exceptions by receiving the invoice, the PO, goods receipt and internal messages
Benefits with automated accounts payable approval process
Automate you AP approval process with Rillion

Automate your accounts payable process with Rillion

Are you having to spend more time tracking, sharing, and managing invoices than doing actual work?

Consider automating your approval workflow. With our AP processing solution, invoice approvals become a breeze.

Invoice approval doesn’t have to be complex, costly, or time-consuming!

Want to try Rillion?

Schedule a Free consultation so that we can understand your needs and provide you with the best solution.