System and method for invoice management

• US 20080177643A1
• Filed: 01/22/2007
• Published: 07/24/2008
• Est. Priority Date: 01/22/2007
• Status: Abandoned Application

• Current Assignee: Insite Services LLC
• Original Assignee: Insite Services LLC
• Inventors: Anderson, Jeffrey R., Stewart, Dale R., Brennecke, Douglas W., Shaikh, Khurshid A., Matthews, Clifton W.
• Application Number:
  US11/656,183
• Publication Number:
  US 20080177643A1
• Time in Patent Office: Days
• US Class Current: 705/30
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A managed invoice management system is provided that eliminates paper and manual functions from the accounts payable process. The system allows a user to digitize invoices, extract key data, add general ledger codes, and validate invoices against purchase orders for each of a plurality of clients, based on a client profile containing predetermined allowable data fields. The system electronically routes invoices from input to one or more approval personnel, wherein the approval personnel are user-selectable from the client profile, and provides real-time invoice tracking and expense analysis.

Claims

1. A method for managing accounts payable invoices, comprising:

receiving a digital accounts payable invoice;

correlating an electronic invoice data file template to an electronic invoice data file interface to obtain client-selected fields having data in the digital accounts payable invoice and generate an electronic invoice data file with the associated data of the selected fields;

assigning the data in the electronic invoice data file to one or more of a plurality of categories in one of a plurality of client profiles using the electronic invoice data file interface;

combining the digital accounts payable invoice and the electronic invoice data file into an electronic approval file adapted for electronic submission;

electronically routing the electronic approval file based on client-specific business rules to one or more predetermined reviewers associated with the digital accounts payable invoice category for review;

receiving approval data for the electronic approval file and exporting disbursement approval data for disbursement; and

routing the disbursement approval data to an Enterprise Resource Planning (ERP) system.

2. The method of claim 1, further comprising the step of digitizing a paper invoice to create the digital accounts payable invoice.

3. The method of claim 1, further comprising the step of converting the digital accounts payable invoice into a format and storing the converted invoice on a network storage device.

4. The method of claim 1, further comprising the step of providing vendors the ability to input and review an approval process of the accounts payable invoice.

5. The method of claim 1, further comprising the step of providing comprehensive audit information pertaining to the process from when the digital accounts payable invoice was received until the digital accounts payable invoice was passed to the ERP system.

6. The method of claim 1, further comprising retrieving one of the client profiles and applying a plurality of rules in the client profile to process the digital accounts payable invoice and its associated electronic invoice data file.

7. The method of claim 2, wherein the plurality of client profile rules are updated in real-time via an Application Programming Interface (API) to the ERP system.

8. The method of claim 2, wherein the plurality of client profile rules are updated in real-time via an Application Programming Interface (API) to a Purchase Order system.

9. The method of claim 2, wherein the plurality of client profile rules are updated in real-time via an Application Programming Interface (API) to a Human Resources system.

10. The method of claim 1, further comprising:

selecting one of a plurality of vendors for the invoice data file template; and

associating one or more of the digital accounts payable invoice fields with the selected vendor.

11. The method of claim 1, wherein the electronic approval file is an Extensible Markup Language (XML) file generated according to parameters in the client profile.

12. The method of claim 1, wherein the method is performed using a web-enabled interface.

13. The method of claim 12, wherein the data is generated, processed, and routed electronically, via the Internet.

14. The method of claim 1, wherein routing the approved digital accounts payable invoice to the Enterprise Resource Planning (ERP) system is performed using an Application Programming Interface (API).

15. The API of claim 14, wherein coding information parameters are obtained from a general ledger (G/L) system.

16. The API of claim 14, wherein cost center allocation parameters are obtained from a general ledger (G/L) system.

17. The API of claim 14, wherein indexing parameters are obtained from the client profile.

18. The method of claim 1, wherein the invoice is retrieved via a web-enabled browser by querying based on one or more of the digital accounts payable invoice fields.

19. A system for managing accounts payable invoices, comprising:

an input adapted to receive a digital accounts payable invoice;

an electronic invoice data file system adapted to generate an electronic invoice data file from the digital accounts payable invoice, comprising an invoice data file template having a plurality of selectable invoice fields associated with the data fields of the digital accounts payable invoice;

an electronic invoice categorizing system adapted to associate the invoice fields in the invoice data file to one or more of a plurality of predetermined categories contained in one of a plurality of client profiles;

an electronic approval file system adapted to generate an electronic approval file including the digital accounts payable invoice and the electronic invoice data file;

an invoice review interface adapted to notify one or more of a plurality of predetermined authorized approvers based on one or more of the categories associated with the invoice data fields to review and approve the electronic invoice data file and to generate approval data; and

an electronic disbursement routing system adapted to route the approval data, comprising;

an Application Programming Interface (API) adapted to export the approval data; and

a network storage device adapted to store the disbursement approval data and adapted to import to an Enterprise Resource Planning (ERP) system.

20. The system of claim 19, wherein the input is adapted to receive a paper invoice to create the digital accounts payable invoice.

21. The system of claim 19, wherein the digital accounts payable invoice is stored on the network storage device.

22. The system of claim 19, wherein the electronic invoice data file is stored on the network storage device.

23. The system of claim 19, wherein the electronic approval file is stored on the network storage device.

24. The system of claim 19, further comprising an approval system managed through client-specific business rules and a workflow engine storing a plurality of approvers in a plurality of client profiles and adapted to allow an approver to be associated with one or more of the categories based on the client profile.

25. The system of claim 19, further comprising an invoice data file interface adapted to receive user-entered data associated with each of the selected invoice fields and adapted to generate the electronic invoice data file.

26. A system for managing accounts payable invoices, comprising:

electronic invoice data file means for generating an electronic invoice data file from a digital accounts payable invoice; and

electronic invoice categorizing means for associating data fields in the invoice data file to one or more of a plurality of predetermined categories contained in one of a plurality of client profiles.

27. The system of claim 26 further comprising electronic approval file means for generating an electronic approval file including the digital accounts payable invoice and the electronic invoice data file.

28. The system of claim 27 further comprising a relational database having an interface adapted to generate customizable reports as a function of electronic approval file means.

29. The system of claim 26 further comprising invoice review interface means for notifying one or more of a plurality of predetermined authorized approvers based on one or more of the categories associated with the invoice data fields to review the electronic invoice data file and to receive approval data.

30. The system of claim 26 further comprising electronic disbursement routing means for routing the electronic approval file approved in the electronic invoice review system to a disbursement system in response to the approval data.

31. The system of claim 26 further comprising approver selection means for storing a plurality of approvers in a plurality of client profiles and associating an approver with one or more of the categories.

32. The system of claim 26 further comprising electronic invoice imaging means for digitizing hard copy accounts payable invoices to create the digital accounts payable invoice.