Invoicetrack provides a complete set of services and tools to receive, process and post supplier invoices with strong automation support.
The Invoicetrack E-Invoicing service eliminates paper and enables automated processing of incoming invoices. Starting your E-Invoicing project with Invoicetrack is easy:
With Invoicetrack you achieve:
Invoicetrack E-Invoicing enables fully paperless and automated processing of incoming invoices. With the Invoicetrack Web Scan module, you can scan paper invoices and other documents such as delivery notes, reminders, order confirmations, and supplements. This is done either centrally (post offices), or decentrally. The scanners are installed and operated directly in the Invoicetrack Web application.
The Invoicetrack E-Invoicing service is based on two widely used industry standards that are open and free: PDF and E-Mail. This guarantees broad acceptance and liberates you and your suppliers from the dependency on proprietary networks. Invoicetrack users typically experience a 50% reduction of paper invoices already after 6-12 months.
The Invoicetrack Data Capture Service provides quality assured structured invoice data from paper and PDF Invoices. The complete availability and accuracy of the invoice data is crucial for the overall automation result.
The Invoicetrack E-Invoice service provides secured mailboxes for your supplier invoices. Incoming e-mails are subject to strict security checks to ensure that only invoices from authorized vendors are processed. Invoicetrack E-Invoicing is compliant with the law and fiscal regulations in almost all countries. For countries where fiscal regulations require electronic signatures for invoices, the Invoicetrack E-Invoicing service provides a signature verification function.
Complete and accurate invoice data is the prerequisite for visibility and control as well as for automation. The Invoicetrack Data Capture Service module provides complete and accurate data from supplier invoices automatically.
The Invoicetrack Data Capture Service module provides quality assured structured invoice data from paper and PDF Invoices.
Our service fulfilment uses state-of-the-art automation technology to aquire as much structured invoice data data as possible from the invoice documents. The built in quality checks in combination with the use of information from historic invoices guarantee the highest level of reliability.
The Invoicetrack Data Capture Service provides 100% complete data to the process. As a result, your AP staff is not wasting its time re-typing data from document pages.
This module is the core of the Invoicetrack automation system. It identifies the actual business case behind the invoice and codes the document accordingly. The Invoicetrack Matching Module compares the invoice data against, up-to-date business information in your financial system. Every invoice is associated with its corresponding purchase orders, including order items and goods receipt information. For orderless invoices accounting information is assigned (General Ledger, cost objects) and the invoice is routed for approval according to your approval policy.
The Invoicetrack Rulebook is a repository of Business Rules that specify how invoices are validated and how the process steps are automated. All modules are driven by rules which provide the controls (accept/reject) and automation actions. The Rulebook is open for configuration to customize Invoicetrack to your needs.
If invoicetrack does not have all the information that is required for posting an invoice and it can not be derived from existing data sources or rules, invoicetrack collects it automatically from the responsible person. For example, if the goods receipt entry for an invoice is not yet available, a request for goods receipt posting is automatically sent to the responsible warehouse. Another usecas is if the order number is not indicated on the receipt, this information can also be requested from the person in charge. Invoicetrack determines the person responsible and automatically retrieves the required information from the user. If the invoice is invalid, it will be automatically returned to the supplier, with the corresponding note.
The Invoicetrack Approval Workflow integrates people from purchasing and other departments into the AP process. Purchase Order based invoices require approval from purchasing in cases where invoice and order differ in price and/or quantity. Similarly, orderless invoices may be routed for approval by one or more people in your organization. Invoicetrack Approval Workflow supports a flexible setup for your approval policy.
The Invoicetrack invoice workspace provides the tools for the AP clerk to resolve the issues and ambiguities that occur on a regular basis in AP. Automation rules cannot resolve every invoice case and post automatically. For example, invoices are incomplete, purchase order or delivery note numbers are missing; goods receipt have not been posted yet, and a myriad of other situations occur, that AP staff need to resolve in a routine fashion.
Invoicetrack provides a detailed audit trail for every invoice from reception to posting and archiving. Invoicetrack holds all your documents available for fast retrieval and reporting for 18 month after final posting. However, Invoicetrack is not a replacement for your own digital archive. Rather, Invoicetrack transfers every document together with its complete audit trail into your own archive system during posting.
The Invoicetrack process management functions provide full visibility and control over all invoices from the time of reception. Detailed financial analysis can be derived once your supplier invoices have passed the Data Capture step. Invoicetrack provides key performance indicators (KPI) that can be used as a basis for continuous process improvement, for example switching relevant suppliers to electronic invoicing or streamlining the Goods receipt posting to improve touchless processing in AP.
This is the final step of the invoice process in AP before payment. Invoicetrack posts Invoices automatically, after the correctness according to purchase order information has been verified. For orderless invoices, supplier specific rules may be applied to carry out account assignment and approval routing automatically. The remaining invoices need to be seen by an AP clerk who prepares the documents for posting.
Invoicetrack provides the complete record to post the data in the customer EPR System. Several and even different customer ERP systems can be simultaneously inetgrated with an Invoicetrack solution.