Product Updates

Remove Bottlenecks From Your Invoice Approval Process

April 7, 2021

Estimated Reading Time: 1 minute

One of the biggest challenges slowing accounts payable (AP) teams down is following up on approvals. Almost 37% of AP teams struggled to get invoices signed off on time from managers while working remotely last year. Weeding out such work-intensive tasks and reducing unnecessary delays can help fast-track your accounting workflow.

The invoice approval waiting game

It’s easy for invoices to get lost in the approval process. If paper invoices are stuck on someone’s desk – at home or the office – it can be difficult to know where to go to find out what has happened to them. It can be like looking for a needle in a haystack.

This can result in late payments, which not only affects an organization’s cash flow but also damages vendor relations. If suppliers have to wait through long payment delays, trust and relationships can quickly deteriorate.

Managing approvals quickly & transparently

To enhance productivity and eliminate approval delays, Beanworks AP automation uses a series of features. Each one is crafted to handle the demands of your specific business.

Our user-friendly platform gives you a preview of all invoices that are pending approval and from whom. If an invoice is rejected, you can review the notes to see why it wasn’t approved and what needs to happen next.

During a hectic time like month-end, or when you urgently need to get an invoice approved, just send the manager a reminder and they’ll be able to check and approve on their phone or desktop.

Watch our step-by-step guide here.

With Beanworks, you don’t have to worry about chasing approvers and sending follow-ups. The system will ensure approvers are notified on time and will also remind them of requests that need attention. In short, the software will chase the approvers so you don’t have to.

You won’t have to wonder where your invoices have disappeared ever again. Now you can easily locate your invoice in the system and prevent future bottlenecks.

Discover what Beanworks can do for your business

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