Use digital invoice workflows with finway

Digital invoice workflows

Do you want to set up and automate your approval processes in a scalable way? With the help of invoice workflows, you can map your processes exactly, accelerate invoice approvals and save time and nerves thanks to smart automation.

Capterra Rating

FINANCE TEAMS FROM ALL INDUSTRIES TRUST IN FINWAY

Group 1345

Get approvals efficiently, no matter how many people are involved

Connections

Set trigger criteria and workflow rules flexibly

Direction 16

Create financial processes that grow with your business

Define trigger criteria as you wish
Define multi-level approval workflows

Define trigger criteria as you wish

Decide freely which criteria should trigger your invoice workflows: You can choose between cost centers, cost center 2 (cost units), requesters or suppliers, and you can trigger your workflows based on specific amounts.

Map different use cases with the finway invoice workflows

Easily define multi-level approval processes

You want to include several people in your workflow? No problem. Define the number and sequence of people involved as you wish, and always keep an overview of your processes.

Work with ruled-based invoice workflows for more efficiency

Maximum flexibility for every use case

With easy-to-create And/Or links and If-amount XY rules, you can flexibly adapt finway to any of your use cases. In this way, you can create powerful automations in no time at all and maintain control at all times.

Set up workflows for different finance processes

More efficiency thanks to rule-based workflows

Do you want to automatically approve small amounts or involve the managing director or CFO for large amounts? With placeholders, you can define generic workflows and reduce the number of workflows at the same time – for more clarity and efficiency.

Set up electronic invoice workflows optimally for any size of company

Depending on their industry, company size and phase, businesses have different requirements for processing incoming invoices. With invoice workflows, you can define rules for processing, approving and verifying invoices in your company. In digital invoice workflows, triggers such as cost center, amount or supplier trigger the workflows, which efficiently involve any number of people in the process. In a tool like finway you can define generic as well as specific workflows and put them into a desired hierarchy. This gives you a tool to create scalable processes and flexibly adapt your processes as your company grows.

Invoice workflow software or holistic spend management solution?

With a financial operating system like finway, you get a comprehensive tool that combines invoice workflows with payments via card or bank connection, mobile app, preparatory accounting, budget control and liquidity planning in one spend management platform. At the same time, the workflows fit perfectly into the system, so you can automate processes in your company without having to use another software. finway’s digital invoice workflows adapt completely to your business processes, not the other way around.

Furthermore, there are tools that specialize only in invoice workflows. This means additional software and usually additional work for you and your employees. Plus, there is a risk of media discontinuity in connection with errors and loss of information – especially if the invoice workflow software cannot be seamlessly integrated into your existing systems.

Process invoices faster end-to-end with finway using rule-based workflows and benefit from efficient and scalable financial processes – from one source and centrally in one software.

FAQ about invoice workflows

What is a digital invoice workflow?

An invoice workflow basically describes a process that covers the processing of invoices from receipt, through approval, to verification. With digital invoice workflows, you can define rules to involve all relevant people in your process and automate the associated tasks.

Why should companies create workflows for their invoice processes?

Digital invoice workflows ensure that invoices are processed and approved as required. In this way, you lay the foundation for timely payment, clean documentation and a relaxed month-end closing. Automation saves time during processing, reduces errors, and allows you to map even complex company structures with many employees.

Is there a limit to the number of workflows in finway?

No, you can basically create as many invoice workflows in finway as you need for your company. It does not matter in which price package your company is located. In addition, you can always invite as many employees as you like to finway and integrate them into your workflows.

How are different use cases mapped with electronic invoice workflows?

If you have several workflows in finway, you determine the order in which the trigger criteria are checked and the workflows are triggered. It is recommended to start with specific workflows and then become more generic. In this case, finway first checks the trigger criteria of the specific workflows to ensure that the process you want is triggered. Our Customer Success Team will be happy to support you with best practices when setting up and creating your workflows.

Get to know finway

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.

  • Insights into the product functions
  • Answers to all your questions
  • Individual advice for you and your team
  • Tanja Reinhardt
  • Vinzenz Dimpflmaier
  • Philipp Wendeln