Invoice Approval Process AutomationBanking, Financial Services and Insurance
The Bank wanted to streamline the approval process from Procurement to Payment department in order to bring in transparency, accountability and overcome delays and bottlenecks in the process. The complete Invoice approval process was be automated so that System is able to keep track of invoice status, send reminders to approvers and performs escalations to management in case of delays.
challenge
- The bank was using email to approve and track invoice payment approval between the procurement and payment department. This was disconnected environment wherein employees were not able to properly track invoices.
- In case if the employee went on leave the tracking of approval became difficult as there was not escalation mechanism available in disconnected email based approvals.
- Search and retrieval and status reporting was difficult and in some cases became long drawn process.
- Due to lack of task based inbox mechanism it was difficult to track the status and the stage with whom the approval is pending.
solution
COMM-IT developed a complete workflow based automation of invoice approval between procurement and payment department. An inbox where in all the invoices submitted or pending for user was implemented and all the approval task was routed through SharePoint workflow. The system allowed the users to keep track of invoice status, send reminders to approvers and performed escalations to management in cases of delays.
- COMM-IT developed a workflow based solution was hosted over SharePoint with roles based access to Bank Employees all over the branches to Streamline the invoice payment process from Procurement to Payment department.
- Workflow based approval process for allowed invoices to be routed to concerns user automatically.
- A common Inbox allowed tracking and highlighted to task for each users.
- Collaboration between different Departments was implemented.
- An email based alert was implemented for task routed to each users.
- Solution allowed to Keep Track Invoice Status.
- Reminders and Escalation.
- Weekly / Monthly Reports.
- Dashboard for Management was implemented.
Benefits
- Streamline Invoices Payment Process.
- Employees are now able to keep Track all invoices.
- Automated all Approval process (Reduce paper work and Time).
- Reminders and Escalations.
- Automated weekly/monthly Reports.
- Management Dashboard.
Technologies Used
- MS SharePoint Server
- Windows Server
- SQL Server
- Exchange Server
- Visual Studio
Scalability Option
- Integrate into COMM-IT’s Digital Workstation.
- Integrate With O365 & Microsoft Team.
- Extend on MS Power Platform – With MS Flow and Power BI.
- Extend on Mobile Device with Power Apps.