Lengthy approval processes are among the top causes of late payments and missed discounts. Enterprise companies process an exhausting number of invoices – sometimes in the millions per year, creating an immense amount of approval actions. Approvers process so many invoices that it’s easy to forget or miss important information – like what happened with a specific vendor’s last few invoices or price changes from month to month.
Complex approval matrices in digital spreadsheets, paper invoices, and geographically dispersed approvers further slows down the process. The consequence? Lost or delayed approvals mean late payment fees, or worse. With Vic.ai, you can design the appropriate approval routing for any scenario or organization size and enforce compliance throughout the approval process. Built-in communication keeps dialogue in context and shortens time to resolve discrepancies.