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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.
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.”
An invoice approval workflow can look very different depending on the industry and company. A typical approval workflow includes the following steps:
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.
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.
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.
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.
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!
Schedule a Free consultation so that we can understand your needs and provide you with the best solution.