Business growth often results in increased workload for employees across all departments, especially for those working in accounts who are processing and approving invoices. For example, when Velosio – a US-based Microsoft Dynamics 365 provider for midmarket companies – expanded, it became increasingly difficult for the accounts payable team to work through transactions efficiently.
“We had a very manual invoice approval and AP posting process,” said Bryan Redic, controller at Velosio. “Our AP team would track invoice approvals via email and then post invoices into our ERP once approved. The team would also attach a screenshot of the invoice approval to the AP entry along with the PDF invoice. Not only was this a tedious process, there was no visibility into received but unapproved invoices.”
Recognising the value of accounts payable (AP) automation, Velosio implemented SignUp Software’s ExFlow solution, which leverages various features within an enterprise resource planning (ERP) system to automate approval workflows and posting invoices.
ExFlow is an AP and invoice process automation solution built specifically for Microsoft Dynamics 365. It helps businesses to automate their invoice process, lower processing costs and increase visibility, control and process efficiency.
SignUp Software worked with Velosio for a total of three months, beginning the project by looking into Velosio’s business from an AP perspective and researching how its ERP system worked. “The team learned our current process, understand who did what, when, and how,” said Redic. “This made the next phases of the project much easier.”
Next, SignUp Software implemented the solution and configured the tool to ensure that it addressed Velosio’s specific needs.
“The automation of the ExFlow tool has helped us realise time savings almost immediately,” said Redic. “After using the tool for about four months, we are realising savings of 12 hours a week between two people. That 48 hours a month means the AP team has an extra week per month they can now spend focusing on other things besides inputting AP invoices and tracking approvals.”
This article was originally published in the Autumn 2023 issue of Technology Record. To get future issues delivered directly to your inbox, sign up for a free subscription