Oct 24 2024 17 mins
A conversation about how EchoVera's AP Automation for NetSuite helps companies get their payables under control.
Find out more at; https://echovera.ca/ap-automation-invoice-processing-netsuite/
NetSuite Intelligent Data Capture
Using Artificial Intelligence and automation, data is intuitively extracted from both paper or emailed invoices. The software instinctively learns invoice layouts and data fields and stores them in a database. Invoices are scanned and electronic files are captured with 100% accuracy
NetSuite Invoice Processing
EchoVera offers a central dashboard that provides users with real-time visibility into the status of invoices, accessible 24/7. Invoices are automatically sent to users for review and approval, ensuring a swift and organized process.
This automated approach not only streamlines workflow but also significantly reduces invoice processing costs, cutting them by half. With all invoice activities visible and manageable from a single platform, businesses can maintain better control over their accounts payable, ensuring that the process remains efficient and cost-effective.
NetSuite Approval Workflow
The approval workflow in EchoVera's AP Automation for NetSuite is designed to simplify and automate the invoice approval process. Invoices are collected in a central dashboard and automatically routed to managers for review and approval.
Once approved, these invoices are sent directly to NetSuite for further processing. The system also allows for invoices or individual line items to be flagged and sent to business users for further review and approval. Automatic notifications and reminders ensure that managers and users stay informed, enabling a seamless and prompt approval process that reduces delays and manual intervention.
3-Way PO Matching
EchoVera's 3-way matching functionality automates the process of matching purchase orders, supplier invoices, and goods receipts. Any discrepancies or exceptions are immediately flagged and sent to the appropriate approvers, allowing them to address issues with a simple one-click approval via email.
The system supports matching for both internal and external purchase orders, providing a flexible and comprehensive solution for businesses managing diverse procurement processes. This feature enhances efficiency and accuracy, ensuring that only properly verified transactions proceed for payment.
Invoice Archive & Audit
EchoVera provides a detailed, step-by-step documented history of invoice transactions, which includes communications between internal staff and suppliers.
This comprehensive archive offers a transparent and objective basis for inquiries or investigations, ensuring that all invoice-related activities are fully traceable. The archive is also fully searchable, allowing businesses to quickly locate specific transactions or communications. This functionality supports compliance and audit readiness, providing a reliable and efficient way to manage invoice records.
Find out more at; https://echovera.ca/ap-automation-invoice-processing-netsuite/
Disclaimer: The information provided in this podcast is for general informational purposes only and should not be relied upon as a substitute for consulting official sources or a government website to determine relevance and accuracy.