Effective Cash Flow Management

Through Comitted AP services

WORKFLOW MANAGEMENT

Workflow is the movement of documents and tasks through a business process. Workflow can be a sequential progression of work activities or a complex set of processes each taking place concurrently, eventually impacting each other according to a set of rules, routes, and roles. We have expertise in the workflow management solutions below.

What we do at Velan

1
Receive invoice copy
2
Enter invoice document
referencing the PO
3
Invoice verification –
3 way match/2 way match

If invoice verification successfully meets the requirement

  • Post the invoice document with a payment block to AP audit for review
  • Audit reviews the listing of blocked documents
  • Invoice is released and available for payment
  • Payment generated
  • Remittance sends to the suppliers
  • Bank reconciliation has to be processed

If invoice verification match fails

  • Document is parked
  • Parked documents are reviewed buyer and requisitioner department.
  • Corrections are made to the invoice document or to the purchase order.
  • And continue the below step again
  • Post the invoice document with a payment block to AP audit for review
  • Audit reviews the listing of blocked documents
  • Invoice is released and available for payment
  • Payment generated
  • Remittance sends to the suppliers
  • Bank reconciliation has to be processed

Get Started Today

Streamline your AP processes

Call +1 860 215 4997

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