AP Automation Features in Dynamics 365 Finance

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The more efficiently you can manage your financial processes, the better positioned your organization will be for success. One way to significantly boost productivity and save valuable time is by leveraging the Invoice Capture functionality within Microsoft Dynamics 365 Finance. In this article, we will delve into the details of how this feature works and how it can benefit your business.

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Don’t miss the opportunity to boost your productivity and drive your business towards greater success with Dynamics 365 Finance.

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Introduction to Invoice Capture in Dynamics 365 Finance

Dynamics 365 Finance has many powerful features that ensure a smooth, streamlined accounts payable process. Among those features is Invoice Capture Automation. This feature streamlines the process of handling invoices by allowing them to be emailed directly to an inbox, where they are automatically scanned and created within the Dynamics 365 Finance ERP system. Let’s explore how this functionality can save your accounts payable staff a significant amount of time and free them up for other, higher-value activities.

How to process invoices faster with Dynamics 365 Finance

Traditionally, handling invoices involved manual entry, followed by scanning and attaching documents as backups. This time-consuming process often led to delays, errors, and increased workloads for AP teams. With Dynamics 365 Finance’s Invoice Capture, this process becomes a breeze.

AP Automation in action - Invoice captured in Dynamics 365 Finance

  1. Receive Invoices: Start by having your invoices emailed directly to your designated inbox. The subject line doesn’t need to contain specific keywords; the system will automatically recognize relevant information.
  2. Automatic Processing: Once an invoice lands in the inbox, the system swiftly picks it up for processing. The OCR technology analyzes the document, extracts essential information, and creates a digital record within Dynamics 365 Finance.
  3. Exception Handling: If there are any issues with recognition, such as unreadable characters or discrepancies, the system routes the invoice to a dashboard for manual review. This ensures accuracy and prevents erroneous entries.
  4. Integration with Purchase Orders: The captured invoice seamlessly integrates with your existing purchase orders (POs). It identifies the relevant PO based on matching criteria, making the process accurate and efficient.
  5. AP Clerk Review: Your AP clerk can access the pending invoice and review the details. The system provides a preview of the invoice, and if necessary, the clerk can download a copy for further examination.
  6. Quick Posting: Once the review is complete and everything looks in order, your AP clerk can easily post the invoice. This action creates a posted AP invoice, which is now associated with the corresponding purchase order.

Invoice automatically paired with the corresponding purchase order in Dynamics 365 Finance

Benefits of Dynamics 365 Invoice Capture

Now that we’ve seen how Invoice Capture works let’s delve into the benefits it brings to businesses:

  1. Time Savings: The most evident advantage is the significant time saved. Manual data entry and document handling are eliminated, allowing your AP team to focus on more strategic tasks.
  2. Reduced Errors: Automation reduces the chances of human errors associated with manual data entry. This leads to more accurate financial records and fewer discrepancies.
  3. Faster Processing: Invoices are processed swiftly, leading to quicker approvals and payments. This, in turn, improves vendor relationships and may even lead to early payment discounts.
  4. Enhanced Visibility: The system provides real-time visibility into your AP processes. You can easily track the status of invoices, making it easier to manage cash flow and make informed decisions.
  5. Compliance and Security: Invoice Capture ensures compliance with regulatory requirements. Additionally, digital records are more secure and easier to audit compared to paper documents.

Dynamics 365 Finance AP Automation Improves Efficiency

The Invoice Capture functionality in Microsoft Dynamics 365 Finance is a game-changer for businesses seeking to streamline their AP processes and save valuable time. By automating the tedious tasks of data entry and document handling, you empower your AP team to work more efficiently and accomplish more in less time.

Would you like to see Invoice Capture in action? Check out our video.

If you’re interested in learning more about the time-saving features of Dynamics 365 Finance and how it can benefit your organization, we encourage you to reach out to us. Our experts can provide you with personalized insights and solutions to enhance your financial management processes.

Don’t miss the opportunity to boost your productivity and drive your business towards greater success with Dynamics 365 Finance. Contact Western Computer today!

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