ExFlow provides out-of-the box access to Power BI Dashboards that include all necessary KPIs to track AP Automation performance through out the end-to-end invoice process – from data capture through matching and approval to final posting. The dashboards enable AP organizations to follow-up and measure invoice automation success as well as identify areas for improvement.
Leveraging the analytics dashboards build into ExFlow, organizations can focus on improving processes, implementing further tools for effectiveness and gaining a deep understand of the value of the Accounts Payable data.
For Accounts Payable to continue to evolve, well defined performance indicators (KPIs) are essential. Important KPIs include: time-to-pay, average cost to process a single invoice, time-to-approve, touchless processing rates, as well as invoice exception rates. These common metrics not only monitor improvements in Accounts Payable, but also create the foundation for actionable intelligence that can be used for supplier and spend management, risk mitigation, as well as financial and cash flow management.
ExFlow leverages standard Power BI
As the dashboards and metrics that are delivered with ExFlow are built in Power BI, they can of course be modified to fit any organization and can provide the foundation for additional dashboards that can extend the capabilities that are delivered out-of-the-box.
Accounts Payable can also enable the organization to digest this data through easy-to-access reports and agile reporting dashboards.
Leveraging AP data across the organization
Accounts Payable is uniquely positioned to provide great value to a wider organization. It touches nearly all aspects of business – from handling payment of spur-of-the-moment one-time-buys to strategic contract spend. By automating the Accounts Payable process, the foundation is laid for an extensive data lake of financial information that can be leveraged far and beyond the traditional scope of Accounts Payable.
Access invoices from anywhere inside the ERP
Since ExFlow is built into the ERP, invoices in ExFlow are available from anywhere in the ERP solution, providing instant access to all invoice information at the click of the mouse. ExFlow provides a fail-proof audit trail, where all activities are logged and stored for future needs.