Electronic invoice workflow

Electronic invoice workflow (i.e., the process management of financial obligations)is an important element in the effective functioning of a company. It is possible to automate, standardise and reduce both the time and cost of the process, if it is managed by Plus Workflow.

Plus Workflow is a market-leading, comprehensive IT system,enabling business process and document management in a company. Plus Workflow is a server solution, to which the users get access from the level of the internet browser, which reflects the key business processes of the company, considerably improving their efficiency.

The companies often begin the internal process of optimisation with the servicingof the financial obligations, i.e., electronic invoice workflow. Plus Workflow system allows automation, standardisation and invoice workflow arrangement in a company, consequently reducing time and the cost of the process.

Another important advantage of implementing the Plus Workflow System is that there is a possiblity to enter invoices into a system in any location of the company, which means immediate invoice annotation and approval.

Gaining control over large volumes of incoming invoicesand related documents, as well as document flow coordination between employees, is another important benefit achieved by implementing Plus Workflow system. Integrated tools generate reports and statistics, allowing analysis of the invoice approval process, based on numerous criteria.

Such business targets are behind the Plus Workflow system implementation in one of the leading manufacturing companies, with many branches all over the country. Prior to implementing the electronic invoice workflow, a thorough implementation analysis of the business needswas carried out. Based on that, a process model and project premise was prepared and implementation began soon afterwards.

It has been decided during analytical work that invoices areshould be to be entered into Plus Workflow system through scanning,right at the beginning of the process, i.e., at the company’s branch. Whilst the invoices are being entered into the system, they are also beingregistered, which ensures a total ‘tightness’and control of their workflow. Whilst being registered, the main invoice data is being entered into the system, which is supported by the OCR/ ICR. Barcode scanning precisely identifies and separates invoices.

After the scanning process is complete, the invoice workflow process in a company starts automatically,in the Plus Workflow system. Invoices are directed to individuals who are responsible for their annotation, i.e., defining cost centres, distributing them to individual account numbers, assigning order numbers, etc. At each stage of the process, the user immediately gets access to the image of the scanned invoice, as well as to their history workflow. This allows full identification and verification of the invoice.

At the stage of the details being described, the invoice can be either rejected, approved or sent to another level of approval. In the system, each approval is additionally authorised. The subsequent stages of approval are performed according to particular conditions.Second-tierapproval for instance, takes place when the invoice amount is above PLZ 20,000 and refers to the invoices of the financial department.

Once the invoice gets the necessary annotation and approval and is verified from a factual, formal and accountancypoint of view, the invoice is sent to the accounting department and entered into the accounting system. In the accounting department the invoice is either approved manually and then confirmed by an automatic print, or the data collected in Plus Workflow is exported to the ERP class system, which automatically starts the bookkeeping transaction.

OCurrently, Plus Workflow is fully integrated with all leading IT ERP and FI class systems.