Based on Accounts Payable automation best practices, Esker on Demand puts all of the right technology at your service to help you better manage vendor invoices. You benefit from lower transaction costs and reduce cycle time while gaining full visibility and control over the process. Check it out by viewing the recorded demonstration below.
Invoice Capture
Paper invoices are scanned upon receipt and sent to Esker on Demand invoice services for processing.
Batches of invoices can be handled using the graphical tool provided as part of the solution.
The user opens the batch preparation web application using a standard browser.
In a few mouse clicks the user separates the file into individual invoices.
Each invoice is then processed and automatically routed to the appropriate group for verification.
Based on predefined rules, relevant data is captured using OCR and intelligent extraction technology.
Invoice Validation
The next steps involve verification of extracted data and invoice coding.
The AP specialist is responsible for doing a quick check on data extracted in the capture step.
The AP specialist will complete the invoice with the relevant coding information.
The system keeps a record of the information entered for a specific vendor and will automatically populate the next time an invoice for this vendor is processed.
Upon completion of this step the invoice is created in the ERP system, blocked for payment and sent to the appropriate person for approval.
Invoice approval
Depending on preconfigured criteria (which can be modified), the invoice enters the payment validation workflow. Based on information such as the cost centre and the amount, several validation levels can be pre-set.
This scenario shows a two-level validation process.
The first approver, in this case the buyer, receives an invoice validation request by email and opens the validation web form by clicking a link in the email.
Following approval by the first approver, the second approver (for example, a manager) receives an invoice approval request.
When the last person to approve has signed off, the invoice payment block is automatically released.
Audit Trail and Reports
Esker on Demand gives you access to the full invoice audit trail as well as pre-defined reports in order to control and manage your AP process more efficiently. You can:
View each step of invoice processing
Monitor all changes made as the invoice moves along the predefined workflow
Keep track of approvers
See different views of the process, such as AP specialists' performance and workload, vendor processing specifics and invoice processing status
Export reports to Microsoft Excel
Create custom reports
Archiving
Based on strictly managed permissions, authorised users or groups can access archived invoices without having to manually search through file cabinets.
Invoices are automatically indexed
Predefined views are provided
Archive is searchable using mutli-criteria filters as well as full text
Invoices are available at any time for up to 11 years
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