Real Estate & Construction

Real Estate and Construction industries deal with high volumes of invoices daily. Dealing with so many invoices everyday is an important but time consuming and tiring task. These invoices have to go through a lengthy life cycle of invoice processing which results in the inefficiency of team members.

There are many problems caused when these invoices are entered manually:

  • Highly error prone
  • Duplicate entries and fraudulent activities
  • Costly affair as it involves a huge team and effort
  • Large vendor team and therefore different formats of invoices
  • Storing and validating these invoices is a headache
  • Invoice checks needed at multiple stages by multiple people
  • Many of these invoices require the control and approval of several people before they can be paid

Solution

 

Automating the data entry process will save time and money and also increase accuracy.

ELIPO offers the best solution for the real estate industry to manage and keep track of all invoices.

Using an automated workflow and a central dashboard, ELIPO automates the processing of PO and non-PO invoices. It keeps finance people happy because invoices can be booked to individual projects and saves them time chasing project managers for approvals.

Features of ELIPO that will help:

  • ELIPO connect with ERP via file integration, which enables it to facilitate a fully automated AP process. Now 100% of invoices are available in ELIPO on the day of receipt and its artificial intelligence (AI) technology —helps automate invoice processing and learns the organization’s unique patterns to streamline processes.
  • After AP team, reviews the invoice and adds any header details needed, ELIPO makes it easy and send invoice to one or more approver for approval. Invoices over certain threshold amounts are assigned to the appropriate finance manager, and ELIPO ensures that approvals are completed following the sequence of the assigned approval order.
  • If needed, approvers can re-route the invoice or ask questions to AP or other departments on top of the invoice, taking much of these time-consuming tasks out of the AP clerk’s day.
  • The approvers code the invoice with the correct GL and approve – all with the convenience of seeing the invoice image. Approved invoices are then reviewed by AP and authorized for payment.
  • After checks are issued, the payment status and reference of paid invoices are updated in ELIPO.

Benefits of ELIPO

 

  • 2X reduction in the invoice lifecycle
  • 2X reduction in the time to get invoice approvals
  • Enhanced visibility facilitates cash flow management
  • Automated expense allocation across departments
  • Automated, streamlined process
  • Automated assigning of invoices internally for validating, approving across various stakeholders
  • Automated workflows assigned across departments and stakeholders
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