Invoice Workflow Automation adds transparency and reduces inefficiency. Read about the trends, features, and benefits of today’s advanced IWA solutions.View the whitepaper
Manual matching and approval processes drain resources, annoy suppliers, and cost you money.
COR360™ gives you intelligent three-way matching, workflow automation, and configurable invoice approval processes.
Invoice Processing – An Overview
Invoices are the backbone of your procurement processes and so much more. Digital invoices are assets, critical tools to help your organization streamline processes and meet financial supply chain management goals. But if your invoice processing system is slow, manual, and inefficient, every component in the procure-to-pay process will feel the effects.
Electronic invoice management is on the rise and for good reason – it eliminates problems and inefficiencies related to paper invoicing while speeding up the entire procurement cycle. Instead of dealing with paperwork all the time, your AP team can focus on generating revenue.
How Automated Invoice Management Works
Deciding to adopt a paperless invoice processing system is the hard part. Once set up, the invoice management software gets to work simplifying every step of the invoice process by:
About COR360 – Our Invoice Management Software
Our invoice management software, COR360, is designed to be as intuitive as possible, and easily customized to your organization’s specific needs. We achieve this with specialized technology that works according to your rules and specifications.
No matter how you receive your invoices, COR360 turns them into consistent electronic data and readies them for automatic processing using two vital processes:
1. Automatic three-way matching
COR360 automatically matches each incoming invoice against the relevant PO and receipt of goods using an algorithm specifically designed by our AP experts. If the invoice matches, within tolerances you specify and manage, COR360 passes it straight through to your finance system.
2. Automated Invoice Approval Routing
COR360 routes invoices based on your assigned “delegation of authority,” rules written with account amounts, duplicates, or account numbers. The SmartRouting delivers immediate review and approval efficiencies. No more payment bottlenecks!
Automated Invoice Processing – The Benefits
Now that you know how easy it is to switch to an automatic invoice management system, here are some reasons why you shouldn’t wait any longer:
Most of all, you’ll be able to elevate your accounts payable department from the back office to a strategic asset.