Our clients have optimized their accounts payable cycle by 75%
- Budget control at order-contract level.
- Invoice traceability-audit.
- Adaptation to the country’s legislation on electronic invoicing without the need to undertake costly technological transformations.
Do you know how much it costs to manage your accounts payable?
Processing an invoice cost USD 9.25 on average
Including labor, overhead and technology
It takes 10 days on average to process 1 invoice
30% of invoices require no manual intervention
Paying a single vendor cost approximately USD 8.64
22.5% of invoices were flagged as an exception requiring staff intervention
Ratio de excepción de 25.5% en promedio
Once the Receipt and Validation process is automated, it optimizes the Accounts Payable Cycle by 85%
- With Invoway, automate validations thanks to a set of configurable rules.
- For each group of suppliers, Invoway allows you to define the set of rules to be validated.
- In case of non-compliance, actions are defined.
- The validation sequence is determined according to Document Type, Supplier Group, Business Area or Order Type.
Once the Receipt and Validation process is automated, it optimizes the Accounts Payable Cycle by 85%
Each invoice must be verified to check if it fully meets the requirements from a consistency, legal and business perspective.
Invoway performs the checks in real time, preventing the invoice from being raised if it does not meet all the requirements. This ensures a “clean” invoice entry flow.
The supplier does not need to generate any format other than the one it currently generates.
Invoway is able to extract invoice data in PDF format thanks to its automated extraction technology.
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Modules
Invoway performs the verifications in real time, preventing the filing of invoices that do not meet all the requirements.
Management of the entire approval/rejection flow of an invoice based on Decision Pyramids.
Invoway integrates with ERP and document managers for all information flows.
The supplier submits its invoices through the Supplier Portal. You can track the entire process.