The traditional or the manual way of processing of the invoices can be a very time consuming and tiresome process. Some of the invoices might be cleared right away, and some might get delayed due to the common problems with the overall process of invoice approval. The invoice approval workflow might have to pass through a number of steps before it finally gets cleared which is the primary reason for the invoices getting delayed. Therefore, you need an improvement in the process of invoice approval which can be done in some ways that are as discussed below.
- In the beginning, the matching of the invoices, the purchase orders and the generation of receipts should be automated which can speed up the process of invoice approval to a significant extent. The process needs to be designed in such a way that each of the invoices that come is matched against the correct purchase order and receipt.
- The automated invoice approval process can be set up automatically create a paper trail which ensures visibility in each of the steps allowing the authorized users to have an idea about the status of every invoice at any given point of time. This can prove to be of great help to monitor all the invoices and approve them quickly.
- In today’s world of digitalization, it would be a great idea to go for email approval for the invoices which saves a lot of time as compared to the manual approval of each of the invoices. In the email, a number of invoices can be sent at a time for approval and the authorized persons can approve the same. Thus, all of the invoices get approved
Following these ways would have a positive impact on the speeding up of the overall process of approval of the invoices.
