In today's business world, efficient and transparent workflows are essential for the success of a company. A crucial aspect is invoice approval, a process that ensures invoices are correctly reviewed, approved, and paid. In this text, we discuss the weaknesses of analog and the benefits of digital invoice approval. We will demonstrate how companies can benefit from specialized workflow software like Flowers to optimize the entire invoicing process.
Invoice Approval: What Does It Mean?
In companies and organizations, invoice approval is an important part of the invoice management process. It ensures that incoming invoices are correctly reviewed, approved, and paid.
Increasingly, automated and digital solutions are being used to accelerate this task, reduce errors, and minimize administrative effort.
Learn how our workflow software can optimize your invoice approval:
Analog Invoice Approval? Better Not!
Analog invoice approval refers to a manual, paper-based process for approving invoices. However, this type of invoice management has some disadvantages:
- Time and labor costs: Manual invoice approvals require significant time, as all steps, such as review, assignment, approval, and archiving, must be performed by employees. This can lead to delays and high administrative costs, especially in larger companies with high invoice volumes.
- Error-prone: Humans make mistakes, especially in manual processes. Such mishaps can lead to incorrect payments, budget deviations, or even legal disputes.
- Low transparency: In analog processes, it is often difficult to access general information or track the status of an invoice and the responsible parties. Data must be manually extracted from paper documents.
- Location limitations: With analog invoice approval, physical documents must be passed among employees - a problem for spatially separated departments or employees working from home.
- Paper consumption: The paper-based process causes environmental impacts due to the consumption of resources such as paper, ink, and energy. Additionally, there are costs for printing, shipping, and storing documents.
For these reasons, specialized software solutions have become increasingly popular in recent years, dedicated exclusively to invoice processing. Digital management of incoming invoices is characterized by covering the entire invoicing process - from receipt to validation to archiving.
Flowers is an example of such innovative software that maps and automates the entire invoicing process in a workflow. Discover the benefits of Flowers for your company now:
Digital Invoice Approval? Yes, Please!
The term "paperless office" has become a common description for the digitization of everyday work in Germany and is used in many blogs and media reports. The expression describes, among other things, the goal of reduced paper consumption and transparent, automated workflows, such as digital invoice approval. More and more companies recognize the benefits of electronic invoice processing and embark on the path of digitization. The advantages of automation include:
- Saving time: Digitization speeds up the entire invoice process from receipt to posting.
- Automation: Artificial Intelligence (AI) and Optical Character Recognition (OCR) eliminate manual tasks by extracting and validating relevant information.
- Location independence: Invoices can be accessed, processed, and approved worldwide, enabling flexible work models and home office.
- Error minimization: Text recognition and escalation mechanisms reduce errors and prevent incorrect transfers.
- Central storage: Receipts are accessible at any time, and all parties have the same information.
- Payment deadlines: Discount opportunities are utilized, and payment delays are avoided.
- Trustworthiness: Compliance with payment deadlines fosters trust from suppliers and service providers.
- Interface integration: Invoice processing software can be easily connected with existing programs like DATEV.
- Cash flow planning: The software provides a current overview of completed and pending payments at any time.
- Security: Digital and cloud-based archiving is a reliable and future-proof method.
Take the important step towards more efficient and transparent workflows with the excellent software from Flowers now!
Book a demo now to test the benefits for your company:
Which invoice automation software should be used?
The answer is simple: Flowers-Software!
Why is that?
- Easy setup and fast support: We help you set up Flowers in 60 minutes exactly as you want it. We train you in 15 minutes. And we're always there for you – by phone, email, or in person.
- Full control and 360-degree overview: With our invoice dashboard, you have a real-time, round-the-clock reliable and detailed overview of all open or overdue invoices. Plus, our activity log always allows you to track every approval status.
- Automatic DMS document indexing: We automatically index all relevant content from every document so that you can search securely for anything at any time.
- Linking of documents: Connect your invoices with purchase orders and delivery notes, and archive everything in a single workflow. All linked documents and notes are preserved when searching for an invoice.
- Free invoice archiving for 10 years: Never print invoices again while maintaining control. Access your archived documents securely and quickly at any time.
- Instant approvals: Complete all approvals with just a few clicks and the least possible time. Enjoy the certainty that all approvals are correct and compliant.
- "All-in-One Account" for multiple companies: Connect Flowers with your accounting systems for various companies.
Then book your free consultation here and reveal your company's hidden potential:
In conclusion, digital invoice approval offers numerous advantages over analog invoice approval. By using innovative software like Flowers, companies can make the entire invoicing process more efficient, transparent, and error-free.
If you want to learn how easy it is to integrate Flowers software into your company, request a demo now: