E-invoicing and vendor portals without automated workflow
Like Oreos® without the filling
Perhaps you, like many organizations, are considering implementing an e-invoicing and vendor portal solution. Good idea! There can be numerous benefits in doing so: eliminating paper, eliminate data errors, checking invoices for conformance prior to processing, providing invoice status to suppliers, enabling suppliers to turn POs into invoices for submission, offering dynamic discounting, and many more.
However, e-invoicing and vendor portals alone don’t provide “the whole cookie.” What are they missing?
- Automated 3-way matching of invoices with purchasing and good receipts data with tolerance rules, and associated exception handling;
- Automated routing of non-PO invoices for coding and approval;
- Tracking and reporting of accrual information to support month-end processing;
And more… Organizations should look to deploy a “both-and” strategy – deploying e-invoicing / vendor portals and automated workflow. This enables organizations to get the biggest bang for their AP automation buck (or Euro, depending on where you’re from).
Furthermore, by deploying an automated workflow solution that is validated (or certified) to work in conjunction with your ERP system’s data, security model, and business rules real-time, live – there is even more significant benefit. In this case, your cookie would be “double stuffed!”
OREO is a registered trademark of Mondelēz International group.