Vendor Approval Workflow for NetSuite Accounts Payable Announced by EchoVera

EchoVera announces vendor approval workflow for organizations using NetSuite. The accounts payable automation cloud solution includes invoice data capture, invoice processing, approval workflow, automated PO matching and a searchable invoice archive.

EchoVera has announced an accounts payable approval workflow solution for NetSuite that solves the challenge of how to quickly and easily approve all types of vendor invoices for final billing in NetSuite. EchoVera’s AP automation solution for approval routing of vendor invoices gives organizations using NetSuite the ability to have flexible approval workflows without coding or development costs.

Many organizations struggle with manual processes for approving vendor invoices. Finance administrators use email, spreadsheets and phone calls in order to hunt down approvers in different locations, time zones and subsidiaries. As a result, supplier invoices often go missing, are not paid on time, or produce bottlenecks in the approval process for completed purchases.

EchoVera’s accounts payable automation solution resolves these issues with a comprehensive approval workflow that includes invoice data capture, invoice processing, automated PO matching and a searchable invoice archive.

The vendor bill approval workflow is automated so that approvers in the organization only receive invoices that are relevant to them or their supervisors. The system can handle complex approval workflows, where numerous approvers are involved by also taking into consideration budget limits as defined by the organization. Ad-hoc routing of invoices is also available for invoices that need special attention.

“The vendor approval workflow provided by the solution is fully integrated with NetSuite,” said Ralf Leitner, CEO of EchoVera, “and once invoices are either approved or matched to a PO, they are sent to NetSuite for recording and payment.”

EchoVera’s AP automation solution captures invoice data automatically from paper and emailed invoices and intuitively maps all the required data fields including line items. The invoice information shows up in a shared central dashboard with indicators for where each invoice is in the approval process.

PO invoices are matched to either internal or external purchase orders, and the matching is done within minutes of receipt. That means even complex purchase orders and invoices with multiple pages and hundreds of entries are matched by the matching engine. If an invoice goes beyond the variances set by administrators, the invoice is flagged and is sent in the approval workflow to approvers for reconciliation.

A complete time-stamped audit trail is included in the system. An invoice log tracks all user activities and is used for audits, investigations and reducing the risk of fraud.

EchoVera has considerable experience integrating with NetSuite, serving clients in diverse industries worldwide, including automotive, pharma, retail, wholesale, and manufacturing.

For more information or to book a demo:

About EchoVera:

EchoVera Inc. provides Intelligent OCR, AP Automation and Purchase Automation solutions to organizations looking to reduce costs and increase the efficiency of their financial operations. EchoVera brings over 30 years experience to clients worldwide.

For more information about EchoVera:

Release ID: 89049234