Accounts Payable Automation For Microsoft Dynamics 365 For Finance And Operations

ap automation

Currently, your accounts payable department may have a seamless flow with Dynamics 365 for finance and operations. Yet, there are certain things that need automation with dynamics 365 accounts payable for better cost control, more efficiency, and transparency.

finance-operations-365-ireland (1)

Why Accounts Payable Automation?

An administration that is efficient one can have the most resource-intensive administrative processes today is accounts payable. It is also one of the most vulnerable to human error. It takes time and effort to resolve a misplaced invoice or duplicate payment. Depending on the type of business and technology involved, the cost of manually processing a single invoice ranges from $15 to $50. That cost can be reduced by up to 50% per invoice by automating the accounts payable workflow. The potential savings for a business are significant.

For any profitable firm, cost control is essential. Until the invoice is posted, a manual process will not provide comprehensive visibility. You’ll know exactly when the company and its current state receive each invoice if you transition to an electronic method.

Observance of regulations Compliance is becoming a higher responsibility for businesses and organizations as corporate data communication regulations become more stringent. The law is frequently complex, varying from country to country and industry to industry. Noncompliance can result in severe penalties. Accounts payable automation ensures that your organization is always in compliance with the law.

Transparency Invoice administration becomes faster, more accurate, and secure when superfluous manual handling and human error are eliminated. You have full transparency with an automated system since a complete log of all accounting transactions provides a foolproof audit trail.

invoice automation d365

Steps:

Accounts payable automation with Dynamics 365 makes it easy to manage invoices in all formats. Be it pdf, paper, or any electronic format. You can just scan and pass it into an electronic workflow. 

Information from invoices is analyzed down to the line level. In Dynamics 365 for Finance and Operations, data on suppliers, quantities, item numbers, and unit prices are imported and validated. Missing data can be manually updated or added.

You’ll also benefit from easy pre-coding of all incoming bills, which will speed up the process and reduce human labor.

Obtain information to compare invoices to purchase order PO, contracts, and/or goods receipts in order to decide how the invoice should be processed. Furthermore, automation improves Dynamics 365 for Finance and Operations’ typical 3-way matching into automated three-way matching.

If an invoice does not match or there are discrepancies, the AP solution sends the invoice for approval or rejection. Approval workflows can be proposed based on predefined validation rules or dynamically routed based on invoice data. Suppliers, accounts, dimensions, monetary limits, and other factors can all be used to create rules. AP also supports position hierarchies. To ensure quick clearance, approvers are notified through email.

AP Automation functionality in Dynamics 365 for Finance and Operations:

Steps clearly show us that the AP automation solution supports all kinds of invoice formats and gives a 3-way invoice matching process, which is labor-intensive, along with the facility of automatic emails to the approver. The approver gets access to all the accounts and other dimensions. Further, using the information, the approver can either approve the invoice or add comments for the next approver to recheck.

AP Automation functionality

As per the assigned roles and approvers, people can easily get an accurate estimate for the compilation of annual accounts. Easy access to the search and reports, and if you have a complaint about delays, you will not have any of them because the AP solution provides delegation. So, if the approver has an emergency, he can simply assign duty to another approver.

AP-Automation-functionality-1

Invoice import to Mobile access for the approval

Mobile devices are also fully supported. All functionality is available to users in the same way it is in the regular approval workflow. Users may quickly access and read the invoice, as well as accept, reject, and remark on it.

So, whenever you look forward to automating the Dynamics 365 finance and operations and having real-time data access, the DFSM team can help implement the solution.

Invoice import to Mobile access for the approval

Get a Free assessment today

Meet Our Clients

Testimonials

Company

DFSM Technologies is a Britain-Australian owned and worked organisation set up in 2014 by a collection of experienced Microsoft Dynamics 365 experts. DFSM’s centre vision is to convey best-in-class and competitive consulting engagements and project management.

Play Video

© All rights reserved 2021 – DFSM Technologies
Terms & Conditions – Privacy Policy

Talk with an Expert Today

You consent to the processing of your
personal data by clicking on the button.
Terms of use.

Talk with an Expert Today

You consent to the processing of your
personal data by clicking on the button.
Terms of use.

Download Template

You consent to the processing of your
personal data by clicking on the button.
Terms of use.

Download Template

You consent to the processing of your
personal data by clicking on the button.
Terms of use.

Download Template

You consent to the processing of your
personal data by clicking on the button.
Terms of use.

Download Template

You consent to the processing of your
personal data by clicking on the button.
Terms of use.

Download Template

You consent to the processing of your
personal data by clicking on the button.
Terms of use.

Download Template

You consent to the processing of your
personal data by clicking on the button.
Terms of use.

Download Template

You consent to the processing of your
personal data by clicking on the button.
Terms of use.

Download Template

You consent to the processing of your
personal data by clicking on the button.
Terms of use.

Download Template

You consent to the processing of your
personal data by clicking on the button.
Terms of use.