In Part 1
, we introduced why automating invoice processing can deliver significant cashable and efficiency savings. In this article, we address specifically what requirements are needed to make fast, efficient automated invoice processing a reality in your organisation within a short period of time.
The PROACTIS Invoice Processing Solution
helps organisations quickly address this critical element of Spend Control. Using this solution you will quickly and efficiently put in place:
- Streamlined registration of both PO and non-PO invoices to create electronic records
- Invoice validation and coding, including processing of complex invoices such as utility, telecom and PCard statements
- Matching of PO-based invoices with ‘straight-through’ authorisation of matched invoices (requires P2P Purchase Authorisation to create POs)
- Discrepancy resolution workflows for both PO and non-PO invoices
- Capture and reporting of detail history to reduce audit costs and enable spend analysis
This solution combined with PROACTIS Purchase Authorisation
provides a comprehensive approach to rapidly and confidently deploy a complete purchase-to-pay environment that addresses all of your PO and non-PO spend categories.
PROACTIS Invoice Processing provides a highly structured, efficient and cost-effective process for organisations to:
Identify and prioritise invoice categories for automated processing
Establish your standardised approach
- Those requiring pre-authorised POs, scheduled payments and other non-PO invoices, and statements requiring special processing (e.g. utilities and telecom, PCard)
- Prioritise invoice categories and organisational areas for initial focus
- Invoice registration process
- Validation, coding and cost-allocation rules
- Matching rules and tolerances for PO-based invoices
- Roles and routing for discrepancy resolution and authorisation
Launch automated invoice processing portion of P2P system
- Invoice registration process (AP personnel)
- Discrepancy resolution (AP personnel, employees, suppliers)
Comprehensive purchase-to-pay (P2P) tools
- Initial invoice categories and organisational areas with phased expansion
PROACTIS will put in place the functional capabilities you need to establish automated invoice processing for both PO-based and non-PO invoices. Utilising a business rules engine, specialised processing, 3-way matching, and electronic workflow, the ‘back-end’ of PROACTIS Purchase-to-Pay
has several important advantages:
Expert start-up assistance
- Comprehensive, best-in-class capabilities integrated with ‘front-end’ purchase request, authorisation and PO generation
- Cloud or on-premise deployment
- The ability to easily grow into additional areas if desired (e.g. electronic trading, sourcing, supplier management, contract management, catalogue management)
PROACTIS Spend Control professionals will work with you and your team to perform all of the activities needed to develop your automated invoice processing capability.
- Help outline process flows for each type of invoice, as well as phased deployment
- Configure the PROACTIS P2P solution with your organisational and account structures, validation and coding rules, matching rules and tolerances and authorisation policies
- Develop electronic workflows for resolution of non-matched PO-based invoices and non-PO invoices requiring manual authorisation
- Guide development of your internal education process
- Assist with the launch of your P2P system to your organisation
With guidance from PROACTIS, your team will:
Optional Ongoing Services
- Establish the invoice categories and organisational areas for which you will deploy the automated invoice processing portion of PROACTIS P2P
- Provide a definition of your organisational structure with roles and responsibilities, as well as policies for validation, cost-allocation, matching tolerances, etc.
- Lead your internal stakeholder education process
- Launch deployment of invoice processing with PROACTIS assistance
You will probably want to use the PROACTIS Purchase Authorisation and Electronic Invoices Jump-Start Solutions in conjunction with this solution to round out your purchase-to-pay deployment.
PROACTIS can even provide ongoing support services – either for an initial period or long term. PROACTIS can work as an extension of your team to:
- Provide additional organisational roll-out assistance
- Develop tailored training and online help materials
This combination of structure, technology, and professional resources delivers everything you need to get started now, realise rapid results and, most importantly, establish a lasting foundation for highly efficient automated invoice processing.