Invoice Review and Approval
ASPEN 360 AP-SmartRouting Edition (AP-SRE) integrates AP best practices with your customized business rules to automatically route the invoice to the requestor for approval and coding. The invoice routing then follows your delegation of authority rules so there's no need for an approver to determine where the invoice needs to be routed to next. Once it has received final approval and has been reviewed by the Accounts Payable department, AP-SRE transmits the data into your ERP or AP system for payment.
AP-SRE's AP Automation Process
Invoice Virtualization Center
The ASPEN 360 Invoice Virtualization Center Enables ZeroTouch Invoice Processing.
SmartRouting
Invoices are routed throughout the organization based on existing business delegation of authority rules, resulting in:
Faster approval and accelerated turnaround time
Ability to handle up to 70% more invoice volume without adding to staff
Elevation of Accounts Payable processors to Knowledge Workers
Initial routing of the invoices to approvers can occur by capturing the attention or point of contact name from the invoice. If the captured name from the invoice matches a user within the AP-SRE user table, then the invoice will be automatically routed to that user. If the captured name does not exist, the invoice will be routed to an exception queue for review to determine initial routing.
AP-SRE's SmartRouting technology streamlines the movement of invoices throughout the approval process by automatically routing invoices to the appropriate person. This eliminates the need for the approver to determine where the invoice needs to be routed next. These rules are controlled by your designated admin user.
Once an invoice is approved within AP-SRE, required invoice data for payment is transmitted at predefined intervals back to the ERP or AP financial system.
AP-SRE is ERP and accounting system agnostic; its proprietary Business Connectors will allow data transmissions to and from your financial system.
