Accounts Payable Automation in Dynamics 365 Business Central

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The value of automating the Accounts Payable Process

Process improvement is a priority for many organizations in an effort to increase efficiency and by identifying these as priorities, the focus has shifted and eliminating time-consuming manual procedures is now a priority. We have all heard that time is money, and manual processes like data entry, two- and three-way matching of invoices to associated documents, invoice routing, indexing and retrieval, and paper storage is currently taking up valuable time for companies.

Processing a single invoice manually cost anything from €15 to €50 (US$18 to US$60), depending on the business and technology involved. Introducing an automatated accounts payable solution with the qualities that ExFlow have can cut that figure by up to 50 % per invoice. For an enterprise, the potential saving is substantial, and that is without mentioning the number of recources that are freed up in the AP department.

This frees up resources in the finance department and provides better visibility over costs, as well as reducing interest charges. It also provides a more reliable and efficient workflow, makes budget work easier and takes on a more GREEN approach by reducing paper consumption.

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 ExFlow Functionality


Invoice import

ExFlow fully support all types of invoices. Paper invoices are scanned and interpreted,the data is imported directly into the application, where it is checked, and if necessary, adjusted by the accounting department.

Matching supplier invoices with purchase orders

When the invoice is interpreted, information down to line level, such as item number, quantity, unit price, etc. is identified. ExFlow uses this line information to match the invoices with available purchase orders, also down to line level.

The Approval workflow

ExFlow support approval workflows based on supplier, account, item, miscellaneous charges, project, fixed asset, reference person, dimensions, line amounts and/or total amounts.

Roles and approvers

ExFlow fully utilise the standard Dynamics functionality, both personalised and rolebased. One user can be assigned to several different roles.

Automating general expense invoices

General expense invoices can be coded against
accounts, projects and fixed assets. This means that invoices involving regular contracts, such as rent, telephone, or leasing, can be managed automatically.

Automatic e-mails to the approver

When invoices are assigned to an approver, this person automatically receives an email, with a link to the ExFlow Web application and a list of all the invoices connected to the recipient.

Account entry, attachments and comments

Once the approver is logged in, he has access to all invoices awaiting approval. The approvers has access to all accounts, dimensions and rules according to Dynamics 365.

Clear summary of invoices

The accounting department maintain full control over all invoices through the ExFlow interface in Dynamics 365. Here they can see all invoices awaiting, and all history relating to an invoice.

Accrual for estimated cost

Accounting departments will appreciate the option to accrue all non-posted invoices via an automatically created journal. This function is used at the end of a month or when compiling annual accounts.

Searches and reports

The approvers can access all invoices from a specific supplier, department or project over a certain period. The accounting department can produce reports filtered through various fields such as status, approval, date, etc.

Delegation

The ExFlow’s “delegation” function can be activated to appoint a colleague to approve the original approver’s invoices for a period of time.

Try it today!

The ExFlow application for Dynamics 365 Business Central is available for download directly from Micosoft AppSource.

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