Invoice processing is something that every company does, but many are still doing it manually and is very labor intensive. Microsoft 365 platform tools like Teams and Power Automate provide ready to use tools capture incoming invoices, route to the correct reviewer, and take it all the way to your GL and payments systems.
AI Builder part of Microsoft power platform can extract information from invoices and enable automatic entry into your accounts payables in GL system following a defined workflow.
Review and Approvals can be routed by rich information cards within chat messages using teams and are organized for very well without getting lost in the email rubble.
Heads up – Implementing reading data from invoices needs a license to Microsoft AI builder – which cost about $500 per month (per capacity – at the time of this writing) for the company. Unless you process more than 50,000 invoices, one capacity unit might be enough for the entire company.
Easiest way to track invoices starts with setting up a shared mailbox for accounts payable group, say “accountspayable@yourcompany.com”. Convey this all your vendors and instruct your team members to forward all invoices they receive directly from vendors to be forwarded to this mailbox for processing.
Microsoft Office platform comes with Power Automate which allows you read your mail box and take actions on individual emails. Configure power automate (or Azure Logic App) to trigger for every email and track them by conversation id to eliminate duplicates. Here is the overview of how the entire process works.
Your implementation of invoice processing will be specific to your business needs. Tools are very flexible to meet most use cases for small to large company sizes. Just be open minded to modern workflow models and you will get the most out of system. This entire implementation should be at the most few days of implementation, and can even start with under a day expectation.
Some Examples:
These are base models where you can build sophisticated workflows to get the most out your automation investments, improve employee productivity, improve auditability, and gain better insights.
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