Invoice automation in the cloud
SpringCM has introduced the latest release of its Invoice Automation solution, which is delivered on its cloud enterprise content management platform. The company claims its newest release makes automating invoice processing easier, faster and more affordable to implement. Further, it says, new reporting and analytics features will provide customers with enhanced management insight into invoice cycle times and bottlenecks, resulting in lower costs and improved financial operational efficiencies.
Additional highlights of this newest release of SpringCM Invoice Automation include:
- an expanded business event model to enable quick configuration of rules, such as changing a vendor and automatically updating payment terms, or changing terms and automatically recalculating the due date of an invoice;
- additional wizard-based reports and dashboards to assess cycle times and identify problem areas; and
- a new portal to enable vendor self-service, and reduce time spent by accounts payable staff responding to vendor inquiries.
The company claims SpringCM Cloud Invoice Automation eliminates paper from the invoice payment process and fully automates the workflow process from capture of invoice information, to matching, purchase order specifications, the approval and sign-off process, and electronic submission for payment to an ERP system.