The newly-announced service is set to provide customers with management insight into invoice cycle times and bottlenecks, as well as cost-control.
In addition, SpringCM Invoice Automation service is expected to include a business event model to enable rule configuration, in order to change vendor and automatically update payment terms, or change terms and automatically recalculate the due date of an invoice. Moreover, the service is set to provide customers with wizard-based reports and dashboards to assess cycle times and identify problem areas, as well as a portal to enable vendor self-service.
Furthermore, the service is set to eliminate paper from the invoice payment process and automates the workflow process from invoice information capture, to matching, purchasing order specifications, the approval and sign-off process, until the electronic submission for payment to an Enterprise Resource Planning (ERP) system.
In recent news, SpringCM has released several other products, including its Cloud Enterprise Content Management service and its Cloud Sales Contract Management offering.
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