How can you efficiently handle invoices that require additional information?

2 Implement a digital solution

The second step to handle invoices that require additional information is to implement a digital solution that can automate and simplify your invoice approval workflows. A digital solution can help you capture, validate, and route invoices electronically, reducing the need for manual data entry, paper handling, and physical storage. It can also help you track and monitor the status of your invoices, flag and notify any issues or exceptions, and generate reports and insights for performance improvement. A digital solution can also integrate with your accounting system and other applications, enabling seamless data exchange and reconciliation.

3 Establish clear roles and responsibilities

The third step to handle invoices that require additional information is to establish clear roles and responsibilities for your invoice approval workflows. By defining who is responsible for what, when, and how, you can ensure accountability, transparency, and efficiency in your invoice processing. You can also assign different levels of authority and approval based on the invoice amount, type, or category, and set up escalation and delegation rules for urgent or complex cases. By establishing clear roles and responsibilities, you can avoid confusion, duplication, and bottlenecks in your invoice approval workflows.

4 Communicate and collaborate effectively

The fourth step to handle invoices that require additional information is to communicate and collaborate effectively with your internal and external stakeholders. By maintaining open and timely communication with your vendors, buyers, approvers, and payers, you can ensure that everyone is on the same page and has the necessary information to process and pay invoices. You can also use a digital solution that allows you to send and receive messages, attachments, and reminders within the invoice approval workflows, facilitating faster and easier resolution of any issues or queries.

5 Review and improve continuously

The fifth step to handle invoices that require additional information is to review and improve your invoice approval workflows continuously. By measuring and evaluating your invoice processing performance, you can identify and eliminate any inefficiencies, errors, or risks in your invoice approval workflows. You can also use a digital solution that provides you with analytics and dashboards that show you key metrics and indicators, such as invoice volume, cycle time, accuracy, compliance, and cost. By reviewing and improving your invoice approval workflows, you can ensure that they are aligned with your business goals and best practices.