Electronic Invoice Workflow

Digitized invoices (PDF or scans) are automatically read using artificial intelligence and machine learning approaches. All relevant data is extracted without the need to train the system on specific layouts beforehand. The system is self-optimizing and learns with each operation.

After data extraction, the invoice and the corresponding entry in the user interface can be accessed. Here, alongside the integrated invoice display, you will find the extracted header and detail data at a glance, as well as a workflow history for better tracking of pending approval steps, including all responsible employees. Automatically generated allocation suggestions for expense invoices, which the system also improves with each entry, are already included. Pre-accounting and extracted data can be manually edited, allowing, for example, amounts to be split, tax codes adjusted, or invoices allocated to specific departments.

Intelligent data extraction includes a compliance check and not only examines legally relevant invoice characteristics but also the consistency of the amounts. Important steps for checking invoices are therefore already completed.

The system can recognize the majority of invoices fully and automatically transfer them to the next system without user interaction shortly after. Only in the case of anomalies are the invoices marked for manual review. In the subsequent workflow steps, the respective users also perform a substantive check, i.e., an examination of the accuracy of individual amounts or outstanding claims.

The subsequent, customer-specifically preconfigured approval process is multi-tenant, multi-stage, and flexible to adapt to the company’s needs. Features such as direct chat functionality with mentions, automated reminders of important deadlines via email, or adding additional users ensure an organized and efficient process. For maximum flexibility, approvals can also be done from mobile devices, via email, and as bulk approvals. Moreover, approval limits and deputy rules can be defined.

To comply with the legally mandated documentation requirement, it is important to document all steps of the approval process and archive them together with the invoice. The entire approval process is documented, and an audit report is provided accordingly.

In allocation, the accounting department determines which accounts the documents should be posted to. Account numbers and cost centers, invoice numbers, data, and booking memos are included. To support this process, the system learns the applied allocations in a smart way and suggests appropriate allocations. Often, the accounting department only needs to confirm these suggestions. The electronic invoice workflow enables seamless booking of documents into the respective FI/CO or ERP system, including but not limited to BMD, DATEV, Dynamics 365/BC, or SAP S/4 HANA (Cloud).

From the time of invoice issuance until the end of the retention period (7 years in Austria), the authenticity of the origin, integrity of the content, and readability of an invoice (see GAAB) must be ensured. An exact replica is not required. Invoices, along with the documentation of the approval process (approval protocols), must be archived in a legally compliant archive system.