E Invoicing Solution for Accounts Payable Invoice Processing

Electronic invoice processing refers to the process that takes an invoice, whether it was originally in paper, email, or format such as PDF, EDI, XML, and digitizes the information so that the data is available in electronic invoice processing software. Another way to describe electronic invoice processing software is with the term “accounts payable automation”, or AP automation. In both cases the technology is automating all the processes in accounts payable.

What are electronic invoicing solutions?

Electronic invoice processing solutions usually provide a way to capture the invoice data, depending on what the original format is, and populating a central dashboard with invoice status. Usually an approval workflow is provided for automating the task of sending vendor invoices out for approval to the person responsible for the purchase.

Electronic Invoicing Solutions Offered by Rillion

The electronic invoice processing solution (or AP automation) offered by Rillion includes the following functions:

• Invoice Data Capture

  Both paper and emailed invoices are captured by invoice capture technology, turning invoices into pure data.

• Invoice Processing

  Invoices are viewable in a central dashboard, showing invoice status. Invoices that need attention are flagged and the proper approval workflows to supervisors and project managers can be set up.

• Approval Workflow

  The approval workflow supports both simple and complex approval paths. Finance administrators use a drag and drop interface to design the workflow. Ad-hoc routing is available for special situations.

• PO Matching

  PO invoices are matched to an internal or external purchase order by the invoice processing software. If there is a match, the invoice is sent to the ERP for payment, a process that takes place in the background within minutes of receipt. If there is an exception, the approver receives the PO and the invoice and all the information they need to clear the exception.

• Archive and Audit

  A complete time-stamped invoice log keeps track of all interactions and messages, useful for audits and investigations. Once an invoice has been paid, the invoice is stored in an invoice archive that is fully searchable.