Streamlining invoice approval: automating workflows for efficiency

Organizations crave solutions that centralize, standardize, and accelerate existing workflows to a higher tier of performance to maximize potential and capitalize on resulting gains. The same can be applied to individual microcosms that exist within enterprises like invoice approvals, admittedly a smaller portion of accounts payable (AP), but crucial all the same.

Invoice approvals are a sensitive, and critical step of the AP process that needs constant tending, but energy spent on the repetitive workloads and mundane tasks are frankly misplaced. Manual invoice approval workflows are outdates, slow, inefficient, and prone to catastrophe, and delays, while automating them reduces the odds of that significantly.

Understanding invoice approval workflows

A workflow for an invoice approval process ensures that invoices are checked and reviewed before they are approved for payment. These workflows can be manual or automated, but automation significantly reduces inefficiencies and enhances control over financial operations.

The core steps in an invoice approval process

While workflows may vary across companies, the fundamental steps remain consistent:

1. Invoice submission – A vendor submits an invoice for payment.
2. Invoice capture – The AP team records and consolidates invoice data.
3. Verification & matching – Invoices are matched against purchase orders (POs) and goods received notes (GRNs).
4. Issue resolution – Any discrepancies or missing details are flagged and corrected.
5. Final approval – The invoice is approved for payment and processed.

The entire process is made seamless by the elimination of manual bottlenecks, integration of approvals into existing business workflows, and real time tracking of invoices, all of which are made possible by automation platforms like Qntrl.

Challenges of manual invoice approval workflows

1. Decentralized invoice handling

Without a centralized system, invoices get lost in email threads, paperwork piles, and disconnected tools, leading to delays and inefficiencies.

2. Tedious & error-prone routing

Manual approval workflows are notorious for bottlenecks, delays, and human errors, which increase processing costs and result in late payments or compliance issues.

3. Lack of oversight & transparency

Inconsistent invoice tracking can lead to duplicate payments, non-compliance, and fraud risks. Without a standardized workflow, organizations struggle to maintain visibility and accountability.

4. High processing costs & delays

Manual invoice processing is expensive. Studies suggest that handling an invoice manually can cost anywhere between $5 to $40 per invoice and take up many days to complete, leading to financial inefficiencies.

The power of invoice approval automation

Automating invoice approval workflows with Qntrl helps businesses overcome these challenges while optimizing financial operations. Here’s how:

1. Faster invoice processing & approvals

By digitizing invoices and automating routing, approval delays are minimized, and payments are processed faster. Automated alerts ensure invoices don’t get stuck in approval limbo.

2. Increased accuracy & compliance

Automated 2-way, 3-way, and 4-way matching processes help eliminate errors in invoice verification, ensuring that only valid invoices are approved and paid.

3. Real-time visibility & control

A centralized dashboard provides instant access to invoice status, payment deadlines, and audit trails, improving governance and accountability.

4. Cost reduction & resource optimization

By automating tedious tasks like data entry, matching, and follow-ups, businesses can cut down processing costs while freeing up AP teams for strategic work.

Key features of an effective invoice approval system

When selecting an invoice approval solution, businesses should look for these essential features:

1. Intuitive no-code workflow builder

A drag-and-drop interface ensures that companies can customize workflows without requiring IT support.

2. Automated matching & data validation

An ideal solution should support multi-layered invoice verification—matching invoices with POs, GRNs, and inspection reports.

3. Seamless integrations

The ability to integrate with ERP, procurement, and accounting systems ensures a streamlined financial ecosystem.

4. Role-based access & security

Role-based controls restrict access to sensitive financial data, ensuring only authorized personnel can approve or modify invoices.

5. Advanced analytics & reporting

Comprehensive reporting tools help track invoice trends, approval bottlenecks, and compliance adherence for continuous process improvement.

Automating invoice approval with Qntrl

Qntrl is an all-in-one invoice approval workflow solution that adapts to any organization’s unique needs. Here’s why Qntrl stands out:

1. Fully customizable workflows

From defining approval hierarchies to setting up conditional triggers, Qntrl’s low-code automation allows organizations to build workflows tailored to their specific AP requirements.

2. Seamless ERP & accounting system integrations

Qntrl connects effortlessly with various ERP systems, eliminating the need for manual data entry and reconciliation.

3. Automated notifications & SLA tracking

With real-time alerts and deadline tracking, Qntrl ensures that approvals happen on time, reducing the risk of late fees or missed discounts.

4. Self-service supplier portals

Vendors can submit invoices, track payment status, and resolve discrepancies directly within Qntrl’s self-guided supplier portal—minimizing back-and-forth communication.

5. Intelligent insights & process optimization

Qntrl’s powerful analytics dashboard provides insights into invoice processing time, approval delays, and compliance risks, allowing businesses to continuously improve their financial workflows.

Maximizing efficiency with invoice approval automation

1. Instant invoice receipt & processing

Once an invoice is submitted, Qntrl can automatically log, categorize, and assign it to the appropriate approvers, reducing manual effort.

2. AI-powered reconciliation

Machine learning and robotic process automation (RPA) enable intelligent line-item matching and error detection, cutting down reconciliation time.

3. Streamlined communication & status updates

Approvers and suppliers can track invoice statuses in real-time, eliminating guesswork and reducing inquiry volumes.

4. Automated approval requests

Qntrl sends reminders and escalations to ensure that invoices are approved without unnecessary delays, preventing financial disruptions.

5. Comprehensive compliance & audit trail

Every action in the approval workflow is logged, providing full transparency and compliance tracking to mitigate fraud risks.

Future-proofing invoice management with Qntrl

By implementing Qntrl’s workflows, organizations can achieve:

• 90% faster approvals compared to manual processes.
• Significant reductions in turnaround times by eliminating inefficiencies.
• 100% compliance adherence through automated audit trails and real-time monitoring.

Transform your invoice approval process with Qntrl

With its powerful workflow automation capabilities, Qntrl is the ultimate solution for businesses looking to enhance their invoice approval process. Whether you’re dealing with a few hundred or thousands of invoices per month, Qntrl helps eliminate inefficiencies, reduce costs, and improve overall financial accuracy.

Get started today

Ready to streamline your invoice approvals? Try Qntrl for free and experience effortless financial workflow automation.