eProcurement & Procure-to-Pay Resources

BuyerQuest Features Designed for AP Automation

Published September 30, 2020 at 10:00 AM

In light of recent events, more businesses are making accounts payable  automation a corporate priority.  Manual processing of accounts payable is inefficient, error-prone, and in the current pandemic requires on-site accounting resources to process invoices.  AP automation delivers a quantifiable return-on-investment in saved time and resources, as well as the elimination of costly manual errors.  

The BuyerQuest Procure-to-Pay platform is designed to help businesses reach their goal of AP automation.  Recent product releases include capabilities that support automated, paperless transacting.

Controls over invoice changes

Situations arise where invoices need to be modified such as line details, taxes, shipping or accounting information. Companies who have a manual accounts payable process  require re-creating and sending an updated invoice, wasting time and resources, likely delaying invoice payments. 

Alternatively, companies that use BuyerQuest for AP automation benefit from greater efficiency by removing tedious manual tasks  and providing an enhanced view and control over financial data. Whether invoices are against a purchase order or not, BuyerQuest offers the ability to identify editable fields for the invoices with specific user permissions for invoice editing.  The Invoices and Credit Memo histories will detail the edits made, creating an auditable transaction history.  These edits are performed digitally, reducing the need for printed paper trails. 

Flexible approvers when needed

In a manual invoicing environment, invoice approvals are a cumbersome process. The invoice must be routed manually for review and approval.  Should an additional approver be required, another manual routing needs to be performed.  

In BuyerQuest, Approvers are added automatically through a configurable rules engine, and an Invoice Approver can even add another Approver to the invoice approval chain right from the Invoice Details page.  The addition of another approving user includes the ability to include a reason, ensuring a compliant, auditable process.  This eliminates offline routing, but still allows flexibility for new or additional invoice approvers should they be required. 

Invoice reconciliation reassignment

In addition to the invoice approvers capability,  BuyerQuest’s Invoice Reconciliation features provide the option for an invoice reconciler to reassign invoice exceptions to another user. This allows flexibility in reconciliation processes when assigned Reconcilers may not possess the requisite authority to reconcile invoices under specific circumstances.

The newly assigned reconciler receives an email notification and the invoice history will reflect the reconciliation reassignment. 

Rules for non-PO and PO-based credit memos

The option to route Credit Memos for approval is configurable on the BuyerQuest platform. This includes the ability to configure approval routing rules to distinguish between PO-based and non-PO-based Credit Memos.

Specific rules can be configured to designate Approvers based on select header level conditions, such as shipping location. Rules can be imported or configured to determine the appropriate approver.  

Permissioned approvers/users can easily manage credit memos awaiting approval via a Credit Memo Approval Grid, showing credit memos in Pending Approval, Denied, or OK to Pay status.

Credit Memo details pages feature an approval chain and a history section.  Email notifications regarding approvals and rejections are sent to buyers, approvers, and suppliers.

Enabling AP Automation 

The capabilities highlighted above are a sampling of the comprehensive feature in the BuyerQuest procure-to-pay platform. With BuyerQuest, companies can digitize their accounts payable process, eliminating the cumbersome, paper-based invoicing that is the hallmark of accounts payable.

BuyerQuest empowers your team by automating their accounts payable process, reducing errors and driving efficiencies. 

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