By the ERP circle we’ll mean Enterprise Resource Planning software as well as financial, bookkeeping, warehouse and other accounting systems. The invoice approval system is a separate software product or service dealing with accounts payable process, which is different from accounts receivable one.
Why Invoice Approval Can Be Best Organized Outside the Accounting System
Despite the fact that some up-to-date accounting systems have BPM engines, organizing invoice approval process within such systems cannot be considered a logical step. There are several reasons to implement a separate invoice approval automation solution.
Information management can only be efficient when corporate systems communicate to each other; and business process management (BPM) systems are surely the first that require efficient intercommunication.
Invoice management software such as Conterra FIM by Orienge is aimed at managing a variety of business processes related to invoice handling, including verifying, approving, and paying. Since these systems deal with unstructured and semi-structured content of invoices and other financial transaction documents, at some stages they might need to integrate with other information systems. Let’s take a look at some of the most obvious situations when integration is needed.