What are the most common invoice approval practices?
Most companies use purchase order data to match against invoice for instant approval; and if there isn’t a purchase order, the invoice is physically routed to the approver. However, it isn’t uncommon that there is no tracking of outstanding approvals, or no escalation of outstanding approvals. While this isn’t a good business practice it is a common one. This video reviews common invoice approval practices and what the drawbacks are of these current practices.
Agenda
Faculty
Bill Becker
Recordsforce, Inc.
- Certified electronic content management practitioner (ECMP)
- Has worked in the process automation industry for over 25 years
- Experience includes the implementation of over 500 A/P cost reducing solutions for his clients
- Co-founded Recordsforce with his wife Katja in 2001, and was named one of the top fastest growing companies in NH in 2016, 2017 and 2018 by NH Business Magazine
- Recordsforce specializes in outsourced A/P automation
- Currently his business processes over 200,000 A/P invoices per month for over 100 A/P departments
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