Accounts Payable and Invoice Process automation for Microsoft Dynamics 365 for Finance and Operation
ExFlow is a built-in, feature-rich AP Invoice Automation solution built into Dynamics 365 for Finance and Operations.
ExFlow automates the entire Invoice Process from invoice import and data validation, through coding, invoice matching, approval workflow, to final posting and archiving. All directly within Dynamics 365 for Finance and Operations – there are no integrations necessary. With Power BI, analytics and follow-up is simple providing full transparency for a fail-safe audit trail.
Best practice invoice processing
Scanning and data validation Invoices are scanned and interpreted using OCR. Invoice data is imported and validated in Dynamics 365 for Finance and Operations. Invoice data can be adjusted by AP staff if necessary.
Coding and preliminary posting ExFlow uses intelligent coding proposing most optimal coding for any invoice line. Coding can be done against a general ledger, PO, project module, or fixed asset. After adjustments the invoice is preliminarily posted.
3-way matching ExFlow can match invoices against POs, contracts and/or goods receipts. ExFlow enhances standard matching rules to provide full support for 3-way matching. If ExFlow is unable to match the invoice or if discrepancies are identified, the invoice is sent for approval.
Dynamic approval workflow on any device Approval is set using standard workflows and/or position hierarchies. Approval workflows can also be generated dynamically using invoice data.
Approval can be done on-the-go on any device using the ExFlow web portal. Approvers are notified by e-mail to take appropriate action.
At all time, AP staff have full transparency into all invoices that are awaiting approval.
Final posting and accrual for estimated costs Approved invoices are posted directly in the general ledger. ExFlow also allows for accrual for estimated cost, non-posted invoices can be accrued via a general journal for end-of-month reporting.
Analytics and follow-up Throughout the process, AP have full control over all invoice activity. All actions are logged, providing a failsafe audit trail. Using Power BI, staff can analyze the invoice process to identify bottlenecks and track necessary KPIs.
ExFlow enables organizations to increase efficiency, transparency and control in their AP Invoice process. ExFlow uses all rules, validations and regulatory requirements enforced and in-use by Dynamics 365 for Finance and Operations. As ExFlow is an add-on, it uses standard functionality to ensure compliance for all key processes.
ExFlow is easy to implement ensuring a quick start-up process and a rapid ROI. AP staff continue to work in their familiar environment reducing training. Since there are no need for integration or data synchronization total lifecycle costs are low even when regarding future upgrades.