Unlocking Invoice Automation for Multi-Entity Management in Microsoft Dynamics Business Central

In today’s fast-paced business landscape, efficiency and accuracy are paramount. With the increasing demands on finance departments to streamline processes while ensuring compliance and accuracy, invoice automation has emerged as a game-changer. And when coupled with multi-entity management capabilities within Microsoft Dynamics Business Central (D365 BC), the benefits multiply exponentially.

For D365 BC users, leveraging AI-powered invoice automation alongside multi-entity management capabilities isn’t just a luxury; it’s a strategic imperative. Let’s delve into how this powerful combination empowers organizations to take control of their invoice processes, making them leaner, faster, and more secure.

Streamlining Invoice Processes by 80%

One of the most significant benefits of invoice automation purpose-built for D365 BC is the remarkable streamlining of invoice processes. Traditionally, manual invoice processing is time-consuming, prone to errors, and lacks scalability. However, with automation, invoices can be captured, validated, and processed swiftly and accurately.

AI algorithms can intelligently extract relevant data from invoices, such as vendor information, invoice numbers, and line-item details, eliminating the need for manual data entry. This not only accelerates processing times but also significantly reduces the risk of errors associated with manual input.

Moreover, automation workflows can be customized to match an organization’s specific approval hierarchies and business rules, ensuring compliance, and minimizing delays. As a result, organizations can experience an astounding 80% reduction in the time and resources required to process invoices, freeing up valuable manpower for more strategic tasks.

Improving Coding Accuracy & Minimizing Journal Entries

Inaccurate coding and excessive journal entries can wreak havoc on an organization’s financial health. Yet, manual invoice processing often leads to discrepancies in coding and unnecessary journal entries, complicating reconciliation processes and hindering financial reporting accuracy.

With AI-driven invoice automation integrated with D365 BC, coding accuracy is vastly improved. The system can analyze historical data and learn from past coding decisions, suggesting appropriate account codes based on predefined rules and patterns. This not only reduces errors but also standardizes coding practices across the organization, facilitating easier reporting and analysis.

Furthermore, by automating the creation of journal entries directly within D365 BC, organizations can minimize manual intervention and ensure real-time visibility into financial transactions. This not only enhances data accuracy but also accelerates the close process, enabling finance teams to provide timely insights to stakeholders.

Gaining Control over Multi-Company Transactions

For organizations operating across multiple entities , managing intercompany transactions can be a daunting task. Manual processes often lead to delays, errors, and compliance risks, and difficulties in reporting.

Invoice automation with support for Multi-Entity Management in D365 BC provides a centralized platform for managing transactions across all entities seamlessly. AI-powered algorithms can reconcile invoices, payments, and expenses across entities, ensuring accuracy and compliance at every step.

Moreover, customizable workflows can automate the routing and approval of intercompany invoices, speeding up transaction processing and reducing bottlenecks. With real-time visibility into multi-company transactions, organizations can make informed financial decisions and optimize cash flow across the entire enterprise.

In conclusion, invoice automation purpose-built for Microsoft Dynamics Business Central with Multi-Entity Management revolutionizes the way organizations manage their invoice processes. By streamlining workflows, improving accuracy, and gaining control over multi-company transactions, D365 BC users can unlock new levels of efficiency and agility, driving business success in today’s dynamic marketplace.

SimplyAP was designed with all of this in mind. The market demand has impacted the way we think about AP automation; it is important to get cloud-based solutions into the hands of people who need it, in a way that works best for them. Contact us to learn how you can get started in as little as two hours, or try our two week free trial!