Transform AP consists of many components, but functionally it can be broken down into 5 key steps:
- Step -1: Scan paper invoices and convert electronic documents into PDF format.
- Step -2: Extract data from the invoice for processing.
- Step -3: Mach invoice data against PO & GRN to ensure the invoice is as expected.
- Step -4: Apply a General Ledger code to the invoice or line item for correct cost centre attribution.
- Step -5: Use GL coding to select appropriate authorisation workflows
- Your invoice is now ready for payment, when your Financial Management decides.