As much as you wish your ERP could complete all the work for your financial department, there are still disparate forms to fill, data to upload, and approvals that need to be signed off. But you don’t need to feel overwhelmed by all these manual tasks: many of them can be automated using a low-code platform…
If your accounts payable solution is in disarray, errors can result in serious bottom-line impacts, including delays to payments, incorrect information, and lost discounts.
The Bizagi accounts payable process model, available to download for free from the Bizagi Xchange, automates the acceptation, validation, and approval of invoices, which reduces processing time and avoids incorrect information being recorded. The process also allows the devolution of invoices when they are received with incorrect information, or when products or services do not meet specified requirements. Plus, it integrates directly with the purchase request process (details below) to provide complete integration.
Bizagi ensures that tasks within the accounts payable process are automatically assigned to the correct employee, with the ability to auto-populate forms from the invoice. After approval, the accounting entry is automatically created in your ERP, so the invoice is available with the correct information to perform the payment. This means you can rest assured that all elements of the process are being completed efficiently and accurately.
The purchase request process can take up a lot of unnecessary time and paperwork, especially with multiple levels of approval. But using the Bizagi accounts payable process model, available to download for free from the Bizagi Xchange, you can automate every stage of the process to enable better buying power in your supply chain.
Using the Bizagi dashboard, the user selects the product they need from a dropdown list (or requests a new product) and enters any information pertinent to the request. This is then sent to their manager. If they are satisfied, the manager can approve the request at the click of a button, which automatically creates the quotation subprocess.
Once managers have approved the supplier, a new case is created for the purchase order. A PDF is generated and sent to the supplier, and information is automatically generated in your company’s ERP. Summary forms are also automatically generated, so you can refer back to the case whenever you wish. Activating the purchase request process in Bizagi makes your purchase lifecycle easy by automating all the steps, from request through to generating the purchase order.
Procurement can be slowed down by sending documents and occasionally thrown into disarray by maverick spending from employees. Automating the procurement workflow helps to build relationships with suppliers, improves budget visibility and aids decision making to deliver savings to your organization.
Bizagi’s procurement solution acts as a basis for your procurement function that can easily be customized according to your needs, aiding RFX management, vendor evaluation and contract management.
In a custom dashboard view, a user can create a new procurement request. Then, their manager will approve it before a member of the procurement team reviews the request to check it is in line with company policies and source the items from an approved vendor. The whole process is mapped out in Bizagi, and automated to ensure efficiency and compliance. Approvals can be made quickly and efficiently with all procurement data stored securely in a centralized hub.
In a similar manner to the purchase request process, the Request for Approval (RFA) process is very manual and paper-based, often relying on approvals being made over the phone or email. This can lead to back-dated approval, which affects employees’ efficiency and performance.
International printer manufacturer and document solutions company Kyocera used Bizagi to automate its special pricing approval process. This highly manual process used to involve printing documents and walking them to the desk of senior management to sign off on special pricing offers, which did not help to win contracts in a competitive environment.
With Bizagi, they have integrated the process with SAP, so that senior management automatically receive digital requests for approval, which they can sign off within in Bizagi. This is integrated with SAP to directly activate the opportunity to purchase, which has reduced process time by 85% from 10 days to just 1.5 days.
Applying tax to invoices is a tiresome, but necessary process. Leading global logistics company, DHL Group was struggling to process more than 25,000 invoices per day. They deployed Robotic Process Automation (RPA) to help automate the manual tasks of extraction and input of data to the payment system. But the process was not fully automated, only the extraction of the data.
To solve this problem, the process was mapped in Bizagi. The RPA bot is now scheduled to go into Oracle every day and find the list of shipments that have been completed that morning. For each shipment, the bot triggers a new Bizagi case. Within that shipment’s case, information is extracted using ABBYY, then that data is uploaded into Bizagi. Over 90% of these cases are now fully automated, and in the few instances which are not, managers can manually input the information in Bizagi at this stage of the process. This completed shipment case information is then automated to be the billing account.
By using Bizagi to map the duty billing process in the finance department, they have provided greater transparency, eliminated mistakes and automated the invoice process end-to-end.
CIMA (Chartered Institute of Management Accountants) reports that 83% of its members support more automation in finance when it saves time and money or helps combat indecision.
So why not empower your finance team with Bizagi? You can download templates for the purchase request and account payable models from the Bizagi Xchange for free. Templates are fully customizable, so they are fully adaptable to your exact requirements.
And find out more about Bizagi’s finance automation capabilities and how the low-code platform can optimize workflows and accelerate turnaround while protecting governance and compliance.
