Thanks to rule-based invoice workflows, you release invoices quickly and easily and efficiently involve all relevant persons in the process.
With finway, you can check and approve invoices easily – whether in the office, at home or on the road. In the dashboard, you always have an overview of all invoices and their status.
Set individual limits and associated approvers per employee. For small amounts, you can have invoices approved automatically thanks to auto-approvals.
Depending on the invoice amount, department and employee, you can define different approvers in finway who will approve the invoices. The corresponding approval process is automatically triggered on the basis of the stored rules.
Thanks to the intuitive workflow and automatic task assignments, you seamlessly integrate all relevant people into the billing process. But only when they are needed. Thanks to finway, you no longer have to chase after missing invoices and receipts.
Have all your subscriptions in one place and never lose track of recurring payments again. Link virtual cards to your subscriptions and get an even better overview of ongoing subscriptions.
Thanks to the integrated supplier database, you can quickly allocate invoices to the appropriate suppliers. In addition, add supplier contracts and match contract conditions and terms directly with incoming invoices.
Ask questions or make comments on invoice requests or receipts directly in the transaction. This prevents media discontinuities and provides the necessary context.
Invoice approvals are part of every company’s daily routine. Almost all employees regularly have to have invoices approved or check and approve invoices themselves. Without a digital tool, there is a lot of work to be done when missing invoices and receipts first have to be collected and then printed out, signed and scanned again. With software like finway, you can map the entire invoice process on one platform. You can store rules for amount limits and approvals and thus flexibly adapt the invoice workflow to your needs.
In addition to electronic invoice approval, the workflows map the verification, payment and export of invoices to accounting, e.g. to DATEV Unternehmen online. With automated invoice processing, you also reduce errors in the process and can easily integrate all relevant employees. Employees only ever see the tasks and invoices that are important to them and can thus focus on the essentials. Admins, on the other hand, always have an overview of all invoices and their status in their dashboard. Use a holistic software solution for all company expenses with integrated invoice management like finway offers – for efficient and automated invoice processing.
What's invoice approval?
Invoice approval is part of invoice processing and thus an accounting tool. Invoice approval is carried out on the basis of persons defined for approval. The approvers are usually determined according to the amount of the invoice. Depending on the complexity of the invoice object or the amount, some invoices are also approved by several approvers. Digital invoice approval workflows within a spend management software solution like finway can help your business simplify the complex process of invoice management.
How does invoice approval fit into the invoice processing process?
Before invoices can be released, they must first be received and collected by the company. With the help of central invoice receipt and automatic invoice entry, incoming invoices can be processed immediately and released by the responsible approvers. Once the invoices have been approved, they are then checked, paid and transferred to the accounting department and archived.
What are the benefits of a digital invoice approval?
If you map the invoice approval process digitally, you approve invoices up to 85% faster. It doesn’t matter whether you are in the office, at home or on a business trip, as invoice approval works on all devices. Thanks to automated workflows, you can integrate all departments and persons into the invoice approval and automatically assign the respective tasks. You have all invoices stored centrally in one software, the process steps are always documented and you thus retain control over your invoice management. The processes grow with your company and can also be mapped for larger companies with complex structures.
When is invoice approval software worthwhile?
An invoice approval tool is worthwhile for all businesses. For smaller or newly founded companies, it is worth automating invoice approval at an early stage and laying the foundation for sustainable growth. This way, resources can be directed to the essential things like customer acquisition or product development. The larger the company, the more people are involved in invoice processing and the more error-prone and inefficient the process becomes. Invoice approval software can provide automated workflows for more transparent and faster processing. At the same time, the personnel effort in large companies and the costs for invoice processing will decrease.
Our experts will guide you through the tool in approx. 30 minutes without obligation and will work out potentials for your company together with you.
