ACCOUNTS PAYABLE
HOW DOES INVOWAY WORK?
The Cloud Platform that Allows you to Manage, Automate, and Optimize the Entire Accounts Payable (AP) Process
Automated Receiving, Validation and Approval
Invoway performs a real-time verification process, preventing the submission of invoices that do not meet all the requirements.
Automated Approval Workflow
Management of the entire approval or rejection workflow of an invoice based on a decision pyramid established with the client.
Pre-Accounting and Integration with ERP
Invoway integrates with ERP and document management systems to ensure the flow of information in the accounting process.
Invoice Reception Events
Invoway automatically generates all events associated with the invoice reception and acceptance process.
Invoway can Receive and Manage Accounts Payable (AP) from Various Types and Through Different Channels
Electronic Documents
Such as invoices, credit notes, and debit notes received in the electronic document reception inbox.Non-Electronic Documents
Such as non-electronic invoices, foreign invoices, bills of sale, advance payment requests, etc.1 Automatic Reception, Validation and Approval of Invoices
Invoway validates legal requirements and the ‘ApplicationResponse’ (DIAN, SUNAT, etc.). It automates commercial and business validations with its rule engine, allowing the configuration of automatic validation scenarios based on criteria such as document type, supplier group, order type or business area.
Validation scenarios of the Three-Way Match (3WM) type can be implemented.
2Automated Approval Workflow
After the invoice is received, if the rules specify that it must go through approval, an automated process begins, based on decision pyramids.
The workflow follows the structure of organizational units or business areas defined for successive review and approval or rejection, according to distribution rules: the purchasing unit, the unit associated with a data field on the invoice, a vendor group derived from the supplier, etc.
Invoway also makes it possible to create shared inboxes with workload distribution based on algorithms (round-robin assignments, workload balancing, etc.).
3 Pre-accounting and Integration with ERP
Invoway enables bidirectional integration with your ERP. It comes with native connectors for widely used ERPs such as:
- SAP ECC
- SAP S/4 HANA
- SAP B1
- MS Business Central
- MS Dyn F&O
- Others
It also features an Integration Toolkit allowing integration with any ERP, based on APIs and/or asynchronous exchange via SFTP.
4 Invoice Reception Event Generation
Invoway automatically generates all events associated with the invoice reception and acceptance process.
- Receipt acknowledgment
- Receipt of goods or services
- Claim
- Explicit acceptance of the invoice
Automate, Optimize, Reduce Costs, and Improve your Relationship with Suppliers
With Invoway, financial departments are now able to manage accounts payable processes quickly, efficiently, and effectively, optimizing resources and ensuring regulatory compliance.
Reduce hidden costs and maximize efficiency in resource management.
Save time in the closing cycle, automate, and simplify your acquisition processes.
Eliminate errors in supplier payments and avoid economic penalties.
Eliminate manual tasks and streamline the delivery of products and services.
Learn More About Invoway's Solution for Suppliers
Invoway also enables, through its Supplier Portal, the management of processes related to documentation, orders, goods, and users.
Learn more about Invoway’s Supplier Portal
REQUEST A DEMONSTRATION
Start Automating your Accounts Payable
Simplify and automate your Accounts Payable processes, save costs, and optimize the operational efficiency of your accounting processes. Discover how Invoway can help your company today.
