Workflow based invoice management

manage your procurement processes in one comprehensive system to prevent invoice frauds!

Comprehensive procurement processes

Request, approval, PO, fulfillment, payment - managed in one unified system, based on predefined processes.

Linking orders and invoices

Ever received an invoice you could not link to any PO or fulfillment? Not anymore with xFLOWer Invoice management.

Controlling invoices and fulfillment

Ever paid an invoice and later realized that the fulfillment was inadequate and does not fit your needs? Never again with xFLOWer Invoice management solution!


Procurement workflows

xFLOWer Invoice process management system enables end to end management of procurement processes - from request through fulfillment to payment approval and controlling, all relevant data is at hand and managed based on your process requirements. Built in approval steps ensure that only approved costs can be paid, while the whole process is controlled by the system, leaving no white spots which may lead to frauds. The system is not only able to manage the most complex procurement processes, but also feedback from suppliers. Explore xFLOWer and enable safe procurement management in your company!

 

orders, fulfillment, invoices...

In case of many suppliers and higher invoice turnover it can be cumbersome to see throughwhich invoice belongs to which PO, or whether the fulfillment was satisfying or not. In such cases it might happen that invoices without proper fulfillment or PO are paid...and the sum you paind is most probably gone forever. This method is also often used by frauds! Do not be a victim of such frauds, explore xFLOWer, a comprehensive workflow system, that can help you with such issues and protects you from such frauds!

 

Only approved sums can be paid...

One of the most important part of invoice management is to ensure that only invoices with previously approved fulfillment and only approved sums can be paid. A prerequisite of such invoice operations is an adequate procurement process which includes all apporval and chekcpoints needed to fully control requests, POs, contracts and fulfillment. Fulfillment check can be done manually - eg. by delegating this task to an entitled colleague - or automatically, for example by using barcode technology - xFLOWer supports both check types. It is also crucial - and supported by xFLOWer - to link invoice sums and items with the approved PO and also with the fulfillment. The system is also capable of handling contracts and bank account numbers, therefore all procurement documents are always available in one place.

 

INVOICE PROCESS MANAGEMENT

Financial planning and forecasting is a fundamental element in all business operations as these activities make finances measurable and plan - able. Also, invoice management processes define timeframes for income realization and expense planning too, hence in order to keep financial planning accurate, it is required to use optimized, error – free invoicing processes. The full invoicing process requires contribution from many different functions and organizational levels from administration, approval and archiving, hence managing and automating these processes results in optimized financial performance.

Incoming paper based and electronic invoices can be managed, approved (manually or automatically) archived and searched in xFLOWer Invoice process management module.

 

WHY CHOOSE XFLOWER INVOICE PROCESS MANAGEMENT?

We suggest choosing xFLOWer in case you would like to insert a workflow and DMS solution into your existing IT environment that is able to:

  • Manage many different types of approvals
  • Document all requests and approval processes
  • Manage data sets
  • Communicate with IT systems through interface connections
  • Manages incoming invoice processes

 

xFLOWer is a robust and mature cloud based workflow and business process management solution with invoice process management functionality. Its development started more than 18 years ago, and it evolved through the years based on international business experience and the actual needs of business leaders throughout Europe. Contrary to other similar systems, xFLOWer is not only a set of „wired” processes, where some steps might follow one another, but a much more comprehensive, yet easy to use workflow system with comprehensive capabilities. 

 

WHEN NOT TO CHOOSE XFLOWER INVOICE MANAGEMENT?

In case you are looking for a billing solution that is able to create invoices, xFLOWer – being a workflow system, capable of managing invoicing processes – is not the solution you are looking for. Also, xFLOWer is not an ERP system, however, it is a great tool to connect functional ERP modules in cross – functional or multi – department processes, thus providing an effective, easy to use and customized working environment, without the need to change your existing IT environment.

In case you would like to manage your invoices with automatic form and character recognition, please visit this link for the most comprehensive solution.

 

INVOICE MANAGEMENT FRAMEWORK

The xFLOWer invoice process management module is part of the xFLOWer process management framework, including the most required business processes and data sets predefined. Although, all these predefined values can be tailored and expanded as needed during the implementation period or anytime later!

xFLOWer invoice process management is a cloud based solution, however it "only" provides a framework to create a business environment for your company - one in which you don't have to change your systems and operation frequently. Check out the xFLOWer product range - you can access all these features anytime: if you need any of it now, it is available, if it will be needed later, implementation into your existing xFLOWer instance will be flawless.

 

INVOICE MANAGEMENT SUPPORT

In the xFLOWer invoice process management module, everything is controlled by business processes to which documents are attached. The processes are guiding all colleagues step by step through the administration tasks, so it is not possible to omit any required step of invoice management processes.

Some examples where xFLOWer invoice management is most helpful:

 

AUTOMATING INVOICE PROCESSES and approvals

AUTOMATED processes and APPROVALS

There are a number of cases where invoice processes and approvals can be automated by xFLOWer. For example in case a customer pays a monthly bill, (eg. utility bill) that is not yet paid in a given month, and the difference between the previous and actual bill is less than 10%, it is approved automatically. Also, value limits can be set for automatic approvals, eg. all invoices below 50€ can be approved automatically. This is a great example how the data included in a document can be used for process automation - thus enabling automated documents in the company.

SUGGESTED PROCESSES TO START WITH

Of course, you are free to decide what processes you use, however, we will suggest the processes to start with. All processes can be tailored to your exact needs during the implementation period. Have a look at all xFLOWer Cloud modules and find the processes that best fit your needs!

  • Sequential approval – Approvers after each other approve the processes (escalation)
  • Parallel approval – approvers can approve cases at the same time
  • 2-4-6-X eye approval: At least X approvers must approve the case
  • Partial approval: Only a number of approvers must approve the case (eg. if 3 from 5 approvers approve the case, then it’s considered as approved)
  • You may automate decisions:
  • Different processes for VIP customers
  • Different processes for customers with dedicated account manager
  • Different processes for customers with frame agreements

 

 


INVOICE MANAGEMENT WORKFLOW – DATA SETS, INTEGRATION AND APPROVALS 

xFLOWer invoice process management module includes customer data sets by default, however, you are free to decide what further types of data you want to store and manage. The possibilities are endless: store customers' company size, location, buying potential, premises, contact persons or unique data types such as foot size, language knowledge, turnover, political relationships or the GM's kids names - really whatever you may imagine!

Related to your specialties, information linked to your product or service can be managed at the level of individual invoices, or you may create different invoice management processes for different product, customer or service types.

In case you have existing data sets in different systems, it is possible to establish interface connections to these systems. Hence, there's no need to re-enter existing data in xFLOWer during implementation. 
In case you need different data sets, not only an invoice database, it is also possible with xFLOWer. Create data sets for HR, real estate, receivables, accessories, partners or anything else. Invoice management processes will always be attached to the appropriate data set.

 

INVOICE PROCESSES - INTEGRATION

xFLOWer is able to connect to your existing IT infrastructure through interface connections. Some examples of database connections:

  • Cost center takeover from ERP systems
  • Synchronizing partner data
  • Checking budgets in the financial system
  • Takeover of previous bank transfers to the xFLOWer decision interface.
  • Transferring approved invoices’ data to the ERP system

xFLOWer has existing interface connections to many systems, including SAP and other international, well – known systems.

 

INVOICE MANAGEMENT PROCESSES - APPROVALS

xFLOWer includes a comprehensive, yet very easy to use approval support functions.

You may approve invoices by:


Invoice workflow expedience

xFLOWer Cloud invoice management module enables businesses to define tasks and responsibilities required for the invoicing processes; based on that all tasks and process steps can be delegated accordingly and automatically. Sequential or parallel invoice approval is also possible to use. So called “two-eyes” and “four-eyes” responsibilities are also manageable or even more participants can be assigned for approval tasks.

In case of electronic invoices, recording and filing of invoices can be done automatically, while all further steps not requiring human interaction can be performed by the module.

The module offers attaching invoices to projects, hence payments and receivables are transparent on project base too.

The invoice process management module can also be used for archiving invoices. According to legislative requirements, the module offers traceability and adequate storage solutions, so all invoice related processes can be performed within the module.


how it works

The following invoice management examples shows the practical use of the module.

Incoming invoice process

  1. Incoming supplier’s invoice via email – the module records the data content of the invoice and the exact time of its arrival.
  2. Invoice management process initialization – The module forwards the incoming invoice to the approver. Formal and fiscal approval along with and cost center identification can be managed separately.
  3. In case of any errors an autoreply message is generated that sends back the invoice to its issuer.
  4. Further process steps depend on approval and wouldn’t start without it.
  5. After approval, the module forwards the invoice to the financial system or to the responsible coworker.
  6. The successful transaction is recorded in the module; the approver and the issuer are both noticed about this event.
  7. The module might use an interface to forward all data to the financial system or ERP (should appropriate settings be in place)

Outgoing invoice process

  1. Invoice issuing – the module files the invoice issued by the financial system. This can be done manually or automatically.
  2. Process initialization – the module starts the predefined invoicing process.
  3. Invoice delivery – the module delivers the invoice to the customer either by post or email.
  4. The module – if integrated with the financial system – monitors the incoming payment of the invoice and the deadline for payment.
  5. If the invoice is cleared, the module closes the process.  in case of overdue payment, the module alerts the customer or forwards the case to the receivables management module.

E-invoice archiving

  1. Electronic invoice arrives to a predefined mailbox (@company.com)
  2. The invoice is automatically forwarded to the electronic archive and is indexed.
  3. When the invoice is needed, it can be retrieved by using a simple graphic interface. The module supports the use of various search criteria. (customer name, invoice number, date, etc.)

 


Ready to use solution

Even the best system can’t provide a complete solution if operational processes are designated erroneously. For this reason, ready – made processes based on international best practices are integrated into all xFLOWer modules, which ensure professional organization of work from the first moment of usage. This unique feature enables business leaders to redefine operational processes solely by appointing coworkers for certain tasks – the rest is done by xFLOWer.

xFLOWer Cloud invoice process  management module contains all the above features and enables the definition, management and automation of all operational processes regardless the number of processes, users of documents involved. By automating certain tasks, resources are freed within the organization, hence saving costs, time and energy for your enterprise. Therefore the company is enabled to focus on sales, clients and the constant development of its core competence to retain its competitive edge.