Invoice Approval Solutions for Media Companies
Invoice management within the media industry presents
unique challenges to Accounts Payable.
- Media companies often work by projects/productions. These require a combination of centralized and distributed processes to work hand in hand.
- Dealing with invoices that pertain to consumption goods and services, as opposed to inventory managed goods.
- Invoices arrive to different project/productions directly or through centralized email, and sometimes get lost on the way.
- Manual AP processes used in many media companies are inefficient and slow down productivity. The invoice approval process can be especially tiresome to Accounts Payable employees who already have enough on their plate.
- Manual processes risk duplicate payments.
Collaborative Invoice Approvals for Media Companies
Any project manager knows that collaborative environments are the most productive, and that is just what interactive invoice management does for Accounts Payable.
Interactive invoice management allows every step of the invoice approval process to be managed from a central digitized invoice landing page. This makes it easy for Accounts Payable to communicate with multiple people across multiple locations to manage invoice approvals.
Here is how it works:
Collaborative software that organizes and tracks all activity around an invoice in a center feed on top of
the invoice itself. It connects people in real-time across locations, and from any device.
No more following lengthy email chains!
Each project should have the ability to have its own environment within the system where they can manage their own invoices before sending to AP for payment.
Involve contractors/vendors to clarify issues and understand invoice status.
Audit trail for audit purposes and providing stakeholders context.
Easily locate and understand the status of every invoice at every point in the process.
Save up to 80% of time that is normally spent chasing invoice approvals.