Streamline Your AP Automation with Exflow for Business Central and Dynamics NAV

Table of Contents

1. Introduction
2. Xflow: An AP Automation Solution
3. Benefits of AP Automation
   • Cost Reduction and Increased Efficiency
   • Enhanced Accuracy and Consistency
   • Improved Visibility and Control
   • Fraud Prevention and Risk Mitigation
   • Leveraging D365 Investment
   • Mobile Accessibility and User Experience
4. Xflow Features and Functionality
   • Data Capture and Validation
   • Intelligent Pre-Coding
   • Purchase Order Matching
   • Invoice Approval Workflow
   • Mobile Approval Interface
   • Power BI Analytics Integration
   • Single Source of Truth and Real-Time Updates
   • Machine Learning and Advanced Business Rules
5. Integration with Cofax ReadSoft
6. Xflow Implementation Process
7. Customer Success Stories
8. Conclusion

Automating AP Processes with Xflow: Enhancing Efficiency and Control

In today's fast-paced business environment, organizations are constantly seeking ways to streamline their operations and improve efficiency. One area that often presents challenges is the accounts payable (AP) process, which involves the management and payment of invoices. Traditional AP processes can be time-consuming, error-prone, and lack visibility, leading to delayed payments, increased costs, and potential fraud risks.

To address these challenges, companies are turning to AP automation solutions like Xflow. Xflow is an embedded AP automation solution that works seamlessly with Microsoft Dynamics 365 Business Central, providing a range of powerful features and functionality to enhance the AP process.

Xflow: An AP Automation Solution

Xflow, developed by Signup Software, is a best-in-class AP automation solution that has been in the market since 2003. With over two decades of experience, Xflow has evolved to become a preferred solution for companies worldwide. It offers a subscription-Based pricing model and is available on Microsoft AppSource.

Benefits of AP Automation

Implementing Xflow offers several benefits for organizations looking to optimize their AP processes. Let's explore some of these key advantages:

Cost Reduction and Increased Efficiency

AP automation significantly reduces process costs by streamlining the invoice processing workflow. It eliminates manual data entry, automates validation and verification, and accelerates the throughput of invoices. This results in substantial time savings and allows businesses to process invoices up to two and a half times faster. By leveraging automation, companies can cut down on errors and rework, ultimately reducing costs associated with invoice processing.

Enhanced Accuracy and Consistency

Manual AP processes are error-prone and can lead to inconsistencies in coding and data entry. Xflow's intelligent pre-coding and business rule functionalities ensure accurate and consistent coding, improving the overall quality of the AP process. This reduces the risk of errors, eliminates duplicate entries, and provides reliable and standardized coding for every invoice.

Improved Visibility and Control

One of the greatest benefits of AP automation is improved visibility and control over the entire invoice processing cycle. Xflow offers real-time tracking and transparency at every stage of the process. Users can easily monitor the status of invoices, view approval workflows, and access comprehensive process analytics to identify bottlenecks and areas for improvement. This enhanced visibility enables businesses to answer supplier inquiries promptly, reduce the time spent on manual tasks, and streamline communication with stakeholders.

Fraud Prevention and Risk Mitigation

As remote work and economic uncertainties increase, the risk of invoice fraud has also risen. Xflow's AP automation capabilities mitigate this risk by providing robust fraud detection mechanisms. It flags potential fraud invoices, such as those with incorrect bank details, and alerts users, preventing unauthorized payments. By eliminating manual handling and enhancing control over the AP process, Xflow helps organizations reduce the risk of fraud and protect their financial resources.

Leveraging D365 Investment

Since Xflow is embedded within Microsoft Dynamics 365 Business Central, businesses can leverage their existing D365 investment. Xflow seamlessly integrates with the ERP system, allowing users to access all the features and capabilities of Business Central. There is no need for additional integrations or duplicate data entry, ensuring data integrity and maximizing the benefits of the D365 ecosystem.

Mobile Accessibility and User Experience

Xflow offers a user-friendly and intuitive mobile approval interface, enabling users to approve invoices anytime, anywhere, and on any device. The mobile interface provides a consistent user experience and allows for quick and easy invoice approvals. Users can view invoice details, make coding changes, and participate in approval workflows directly from their mobile devices. This flexibility increases user satisfaction and ensures smooth and Timely invoice processing.

Xflow Features and Functionality

Xflow provides a comprehensive set of features and functionality that enable organizations to automate their AP processes efficiently. Let's explore some of the key capabilities offered by Xflow:

Data Capture and Validation

Xflow integrates with popular OCR interpretation tools like Cofax ReadSoft, enabling seamless data capture from invoices. The system automatically imports and validates the captured data, ensuring its accuracy and completeness. It performs validations against master vendor data and predefined business rules, minimizing errors and ensuring data integrity.

Intelligent Pre-Coding

Xflow's intelligent pre-coding functionality eliminates the need for manual coding of invoices. It leverages machine learning algorithms and advanced business rules to suggest appropriate coding based on historical invoice data. This streamlines the coding process, saves time for AP personnel, and ensures consistent and accurate coding for every invoice.

Purchase Order Matching

Xflow offers powerful purchase order matching capabilities, allowing businesses to automatically match invoices against purchase orders and goods receipts. The system performs matching based on predefined tolerances for both value and quantity, ensuring accurate and reliable matching results. Any discrepancies are flagged, and exception handling workflows are triggered for further review and approval.

Invoice Approval Workflow

Xflow enables the creation of customized approval workflows based on organizational requirements. Users can define approval rules and assign specific approvers based on criteria such as department codes, vendor references, or predefined business rules. The system provides a web-based approval portal where approvers can review invoices, make coding changes if necessary, and approve or reject invoices with just a few clicks.

Mobile Approval Interface

With Xflow's mobile approval interface, users can conveniently approve invoices on the go. The interface is accessible on any mobile device and offers a seamless user experience. Approvers receive email notifications with direct links to the web approval portal, where they can review and approve invoices from their mobile devices. This mobile accessibility reduces response times, enables timely approvals, and improves overall process efficiency.

Power BI Analytics Integration

Xflow integrates with Microsoft Power BI, allowing users to leverage powerful analytics and reporting capabilities. Organizations can gain actionable insights into their AP processes by creating custom dashboards and reports. With real-time analytics, businesses can identify process bottlenecks, measure KPIs, and make data-driven decisions to optimize their AP operations further.

Single Source of Truth and Real-Time Updates

Xflow's embedded nature ensures that there is always a single source of truth for AP data. All changes and updates made within the system are reflected in real-time in Business Central. This eliminates the need for data duplication and manual synchronization, providing accurate and up-to-date information for all users.

Machine Learning and Advanced Business Rules

Xflow incorporates machine learning algorithms and advanced business rules to enhance automation capabilities. Machine learning enables the system to learn from historical data and suggest optimal coding based on specific vendor Patterns. Advanced business rules allow organizations to define complex approval criteria and automate decision-making processes. These capabilities increase efficiency, reduce manual intervention, and enhance overall process automation.

With its comprehensive features and functionality, Xflow empowers organizations to transform their AP processes, gain control and visibility, and achieve significant cost savings and operational efficiencies. By automating labor-intensive tasks and optimizing workflows, businesses can focus on essential activities, drive business growth, and deliver superior financial performance.

Integration with Cofax ReadSoft

Xflow seamlessly integrates with Cofax ReadSoft, a leading OCR interpretation tool. Organizations can leverage their existing ReadSoft deployments and Continue using it for data capture. Xflow complements ReadSoft by providing additional functionality and automation capabilities for the complete AP process. The integration enables smooth data transfer between ReadSoft and Xflow, ensuring a seamless end-to-end AP automation solution.

Xflow Implementation Process

Implementing Xflow is a well-defined process that involves a thorough analysis of an organization's AP requirements, system configuration, and customization. The implementation process typically includes the following steps:

1. Discovery and Requirement Gathering: The implementation team works closely with the client to understand their specific AP processes, pain points, and desired outcomes. They gather requirements and identify areas for automation and improvement.

2. Solution Design: Based on the requirements, the team designs a customized solution that best fits the client's needs. This includes configuring Xflow, setting up approval workflows, defining business rules, and integrating with existing systems.

3. System Configuration and Testing: The Xflow solution is configured according to the design specifications. The team performs rigorous testing to ensure that the system functions as expected and meets the defined requirements.

4. User Training and Change Management: Training Sessions are conducted to familiarize users with the Xflow system and its functionalities. Change management strategies are implemented to facilitate user adoption and ensure a smooth transition to automated AP processes.

5. Go-Live and Support: Once the system has been thoroughly tested and users are trained, the Xflow solution is deployed live. The implementation team provides ongoing support and assistance to address any issues or questions that may arise.

By following a structured implementation process, organizations can successfully integrate Xflow into their AP operations and start reaping the benefits of enhanced efficiency, control, and cost savings.

Customer Success Stories

numerous organizations across various industries have successfully implemented Xflow to optimize their AP processes. Here are some examples of how Xflow has helped organizations achieve significant improvements:

1. Company A: A multinational manufacturing company with over 2,000 monthly invoices automated their AP processes with Xflow. By eliminating manual data entry and streamlining approvals, they reduced the time spent on invoice processing by 60%. This resulted in cost savings, improved accuracy, and enhanced visibility across their global operations.

2. Company B: A healthcare provider with multiple locations implemented Xflow to centralize their AP operations. By leveraging Xflow's mobile approval interface, their approvers could easily review and approve invoices on the go. This significantly reduced approval times, improved collaboration, and ensured timely payments to suppliers.

3. Company C: A retail chain with a high volume of recurring invoices used Xflow's agreement matching capabilities to streamline their invoice processing. They automated the approval workflow for subscription-based costs, eliminating manual intervention and ensuring accurate and timely payments. This reduced processing errors and provided greater control over their recurring expenses.

These success stories demonstrate the versatility and effectiveness of Xflow in different business scenarios. By tailoring the solution to specific requirements and leveraging its robust capabilities, organizations can achieve remarkable results in optimizing their AP processes.

Conclusion

In today's digital age, organizations cannot afford to rely on manual and outdated AP processes. AP automation solutions like Xflow offer a comprehensive set of features and functionality to streamline processes, reduce costs, and increase efficiency. By automating data capture, validation, coding, matching, and approvals, Xflow enables organizations to optimize their AP operations, enhance control and visibility, and achieve significant time and cost savings.

Implementing Xflow is a strategic investment that allows organizations to leverage their existing D365 systems and enhance overall AP process efficiency. With Xflow, organizations can transform their AP operations, unlock the full potential of their ERP systems, and drive business growth in a digital world.