The main steps in processing an invoice are:
Invoice verification / Matching
When looking at these sequential steps, companies spend a lot of time matching invoice data to the original purchase order (PO) or contract (invoice verifi cation), and acquiring approval (invoice approval). It’s in these areas that technology can increase effi ciency and offer the greatest cost savings.
Wemasoft Enterprise Accounts Payables System (APS) optimizes the process of capturing, verifying, and getting approval with intelligent capture, and electronic workflow capabilities — helping your company save vital time and costs while improving supplier relationships
What are the benefits to you?
Delivers spend visibility from start to finish.
Provides customised ERP-independent workflow
Eliminate Human Error
Eliminates human intervention via transfering capturing of invoices to suppliers, and the system verifies against Purchase Order or Contract before submission.
Adherance to Contract limits
The systems checks contract limit, as well as deliverables before approval hence making payments as per contract in place.
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How are the benefits met?
Easy Invoice Capture
With a branded and easy-to-use portal, system allows suppliers to capture their own invoices.
Auto-matching on Invoices
Invoices for PO's are automatically checked to ensure correctness of line items, quantity and price.
Complex business rules
The system is configured to allow multi-level, delegated, or condition-based approval rules with ease without help from IT.
Set and stay within your planned budgets. Create/Import chart of accounts, and budget by departments, or projects. Requisitioning out-of budget is avoided
With unique username and password, employees can log in into the system, place requisition and managers can approve requests as needed.
The system integrates with contracts module to ensure an invoice that is paid against a contract is correct, and within contractual budget and deliverables