AP Automation

Invoice Processing

Invoice processing scales and liberates your AP team.

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  – How it works
No matter how you receive your invoices, COR360 turns them into electronic data 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 AP experts. If the invoice matches (within tolerances you specify and manage) COR360 passes it straight through to your finance system.

2. Automated 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.

Invoice ProcessingThe benefits

  • Scale AP activities by up to 70% without adding to headcount
  • Free up time spent on manual matching and approval-chasing
  • Eliminate duplicate payments (and the hassle of reclaiming money)
  • Easily find and view invoices and and their audit trail
  • Cut invoice disputes down to a bare minimum

Most of all, you’ll be able to elevate your accounts payable department from the back office to a strategic asset.

 

invoice-approval-automation

Get more information on COR360

Read more