Invoice Approval

Process Goal

Timely and compliant approval of incoming invoices is essential for accurate accounting, on-time payments, and taking advantage of early payment discounts. An automated process ensures that invoices are reliably captured, reviewed, and booked so liquidity is optimally managed and compliance requirements are met.

KPIs:

Reduction of processing time from invoice receipt to booking by up to 80%
Reduction of manual review steps by up to 90%
Avoidance of lost cash discounts (≥ 95% of discount deadlines are met)
Transparent traceability of all approvals (100% audit trail)

Reduction of processing time from invoice receipt to booking by up to 80%
Reduction of manual review steps by up to 90%
Avoidance of lost cash discounts (≥ 95% of discount deadlines are met)
Transparent traceability of all approvals (100% audit trail)

Reduction of processing time from invoice receipt to booking by up to 80%
Reduction of manual review steps by up to 90%
Avoidance of lost cash discounts (≥ 95% of discount deadlines are met)
Transparent traceability of all approvals (100% audit trail)

Improvement with FireStart

Invoices are approved and booked within minutes (instead of days)
Full transparency into processing progress across all departments
Automatic validation of amounts, cost centers, and purchase references (3-Way Match)
Efficiency gain for the finance department: Focus on value-adding activities instead of data entry
Risk minimization: Compliant approvals in line with the approval matrix for each invoice
Audit-proof archiving and complete audit trail

Invoices are approved and booked within minutes (instead of days)
Full transparency into processing progress across all departments
Automatic validation of amounts, cost centers, and purchase references (3-Way Match)
Efficiency gain for the finance department: Focus on value-adding activities instead of data entry
Risk minimization: Compliant approvals in line with the approval matrix for each invoice
Audit-proof archiving and complete audit trail

Invoices are approved and booked within minutes (instead of days)
Full transparency into processing progress across all departments
Automatic validation of amounts, cost centers, and purchase references (3-Way Match)
Efficiency gain for the finance department: Focus on value-adding activities instead of data entry
Risk minimization: Compliant approvals in line with the approval matrix for each invoice
Audit-proof archiving and complete audit trail

Invoice Approval Process

Process Start (Mailwatcher)
- Incoming invoices are detected by a mailwatcher and automatically integrated into the process.
Invoice Evaluation (OCR / AI)
- Extraction of all relevant invoice data (vendor, amounts, order number, line items) using OCR and AI.
3-Way Match
- Comparison of the invoice with existing purchase orders and goods receipts from third-party systems (e.g., ERP, inventory management).
Approval According to Approval Matrix
- Automatic assignment of the responsible approvers based on department, cost center, and amount. Multi-level approvals are supported.
Booking in ERP System (BMD / SAP / …)
- After approval, the invoice is posted in the ERP system along with all metadata.
Archiving
- Audit-proof storage of the invoice and all related documents in the DMS or file system. Linked from the ERP system.
Automated Rejection Emails (optional)
- If the 3-Way Match fails or the invoice is rejected by approvers, the system automatically sends clarification or rejection emails to the vendor.

Process Start (Mailwatcher)
- Incoming invoices are detected by a mailwatcher and automatically integrated into the process.
Invoice Evaluation (OCR / AI)
- Extraction of all relevant invoice data (vendor, amounts, order number, line items) using OCR and AI.
3-Way Match
- Comparison of the invoice with existing purchase orders and goods receipts from third-party systems (e.g., ERP, inventory management).
Approval According to Approval Matrix
- Automatic assignment of the responsible approvers based on department, cost center, and amount. Multi-level approvals are supported.
Booking in ERP System (BMD / SAP / …)
- After approval, the invoice is posted in the ERP system along with all metadata.
Archiving
- Audit-proof storage of the invoice and all related documents in the DMS or file system. Linked from the ERP system.
Automated Rejection Emails (optional)
- If the 3-Way Match fails or the invoice is rejected by approvers, the system automatically sends clarification or rejection emails to the vendor.

Process Start (Mailwatcher)
- Incoming invoices are detected by a mailwatcher and automatically integrated into the process.
Invoice Evaluation (OCR / AI)
- Extraction of all relevant invoice data (vendor, amounts, order number, line items) using OCR and AI.
3-Way Match
- Comparison of the invoice with existing purchase orders and goods receipts from third-party systems (e.g., ERP, inventory management).
Approval According to Approval Matrix
- Automatic assignment of the responsible approvers based on department, cost center, and amount. Multi-level approvals are supported.
Booking in ERP System (BMD / SAP / …)
- After approval, the invoice is posted in the ERP system along with all metadata.
Archiving
- Audit-proof storage of the invoice and all related documents in the DMS or file system. Linked from the ERP system.
Automated Rejection Emails (optional)
- If the 3-Way Match fails or the invoice is rejected by approvers, the system automatically sends clarification or rejection emails to the vendor.