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IDC recognizes the importance of this new approach: “Guided procurement applications provide an inviting approvalworkflow that is easily understood by all stakeholders in the approval chain. It is immediately obvious where the action lies, and parallel approvals are supported.
Procurement Partners , which works on procure-to-pay (P2P) services for healthcare providers, has received an investment from Serent Capital , according to a press release. Through 100 percent invoice integration, the service boasts improvements to savings, and offers a compliance audit feature that can help vendors cut spending.
Modern solutions increasingly take a more holistic approach and automate many pre-accounting tasks, like approvalworkflows and securing receipts and contracts. Transaction software for AP automation was first launched in 2000 and was tailored for specific industries, such as real estate, healthcare, and manufacturing.
Add an Automated ApprovalWorkflow The lack of an integrated approvalworkflow and limited number of user licenses in QuickBooks often requires manual approvals via email. Let’s take a closer look.
Streamlined Invoices ApprovalWorkflows AP automation makes invoice approvals easy. AP staff no longer need to manually send reminders to decision makers regarding invoice approvals or payment authorizations. For healthcare, these are particularly important since there are a smaller number of suppliers.
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