Approval of Incoming Invoices with Greater Oversight

Problem:
In organizations that process large volumes of incoming invoices and have multiple levels of approval, the invoice approval process is often slow, opaque, and inefficient.

Invoices are sent manually via email or other communication channels, and it is often unclear who is responsible for processing them and at what stage of the process they are.

This way of working causes delays in the approval and posting of expenses, increases the administrative burden on employees, and creates an additional risk of errors or lost documents.

An additional challenge is the lack of transparency and control over the process, particularly in companies with multiple levels of expense approval.

For example, a lower-level manager can approve invoices up to €300, a mid-level manager can approve invoices up to €5,000, and all amounts above that must be approved by company management.

Without a clearly defined and automated process, such rules are often not enforced consistently.
Invoices are forwarded to the wrong people, get stuck at a particular stage of the process, or are approved without proper oversight.

Users do not have a clear overview of where a document is located, who is currently working on it, and where bottlenecks in the process are occurring.

Solution:
The module enables an advanced process for approving received invoices through multiple approval stages, with automatic distribution of documents to the responsible parties and real-time tracking of the process status.

Once the invoice is accepted, the document is distributed to predefined groups based on the contact person specified by the supplier in the entity code list.v.

Centralized Invoice Processing

All received invoices are automatically imported into Documentation. Access to the classification can be restricted exclusively to authorized users who have the right to view all invoices.

Automatic distribution to the appropriate personnel

Once the document is received, the business process for distributing invoices is triggered.
The system automatically assigns a responsible person based on the information specified by the supplier in the entity code list.

In this way, each invoice goes through predetermined levels of verification and approval.
If no responsible person has been designated at the supplier, the document is excluded from the automatic approval process, but it can be manually submitted for approval.

Control over the document at all times

You can check the status of a document at any time:
• pending approval
• rejected
• completed

Statuses provide an easy overview of the current status of each account.

Transparency without having to search for additional information

The network displays the person in charge, so you can immediately see who is handling the invoice and what stage of the process it is in.

This way, users can see at any time:

• Who currently has the document
• Where a potential bottleneck in the process occurred

Invoicing in accounting allows for flexible posting

Once the approval process is complete, the accounting department can choose how to post the invoice:
• Import an XML document
• Manual entry
• OCR processing of the invoice

Advantages of the Solution

Automation of the invoice approval process
Clear oversight of responsibilities and approvals
Less manual document distribution
Faster flow and processing of received invoices
Transparent tracking of document status
Easier monitoring of bottlenecks and rejectedinvoices
Greater security and control over document access

Who is this solution intended for?
This solution is intended for companies that have:
Multiple invoice approval stages
Decentralized expense approval
The need to monitor the approval process
A large number of received invoices and users involved in the processing workflow

Key value of the solution
PANTHEON does even more. With the right process in place, it becomes a powerful tool for document and accountability management.