DCS invoice processing software allows you to set up standard codes and enforce their usage across all organisation processes. You can automate creation of complex invoice codes based on different criteria such as coding per line item, departments, suppliers or coding as per invoice stage in the payment process. The software also automates routing of invoices into different business workflows based on their codes.
With the DCS web based platform, accounts payable departments can:
- Automate coding of purchase order (PO) referenced invoices, recurring invoices and other straight-forward invoice types and route automatically to the right approver
- Automate distribution of non-PO invoices to users for electronic coding wherever they are located
- Store cost centre and general ledger (GL) code information for online access and online searching by authorised staff
- Set up automatic alerts and reminders to action missing codes promptly
- Generate management reports based on invoice coding to identify bottlenecks and review other invoice processing performance data
Invoice Reconciliation with 2-Way Invoice Matching
Invoice scanning and capture firstly extracts information such as supplier name, purchase order number and invoice amount. A workflow then automatically applies rule based matching of captured invoices to purchase orders in your ERP database without any manual intervention.
Different workflow rules can be implemented for different purchase order classes such as pre-approved purchase orders, contract based purchase orders or multi-purchase order invoices. Depending on the results, the invoice will automatically enter the right workflow for coding, approval and payment. In the event of discrepancies or unmatched invoices, an exception handling workflow is triggered routing invoices to the appropriate query handler.
Invoice Reconciliation with 3-Way Invoice Matching
DCS has also helped companies set up 3-way invoice reconciliation with matching against both purchase order and goods received note (GRN). This process essentially involves the additional stage of GRN scanning, capture, data extraction and storage.
Further multi-way invoice matching options can be implemented incorporating other documentation such as inspection lists and itemised bills. The invoice information is reconciled with these documents and unmatched invoices are routed in exception workflow for quick resolution.