AmeriQuest Transportation and Logistics Resources today, Aug. 7, announced the launch of Online Invoice Approval in conjunction with Corcentric. Online Invoice Approval is designed to help companies reduce paper-based transaction costs by allowing them to receive and approve invoices electronically. Authorized approvers are set up for each company location; these approvers will receive e-mail notifications when the company is sent a new AmeriQuest invoice.
By logging into the AmeriQuest e-commerce site, the approvers will be able to view, approve, add comments and assign general ledger codes within each invoice; in turn, accounts payable will be able to review this approval and any notes added to the invoice, reducing time and costs. This system, when coupled with the existing e-Commerce invoice archival capabilities, enables a business to reduce administrative overhead, focus more on core competencies, benefit from reduced audit fees, and lower transaction costs, according to AmeriQuest and Corcentric.
“This new enhancement greatly improves the flow of operational data throughout any company by virtue of its timely automatic routing of new charges to the appropriate individuals and its standardizing and documenting the entire review and approval process,” says Rich Spotts, chief financial officer of Cherry Hill, N.J.-based AmeriQuest. “Its data tracking, e-mail notification and account coding features are a major plus for any size company.”
“Online Invoice Approval allows AmeriQuest customers to streamline their accounting transaction processes,” says Dave Lindeen, vice president of sales for Corcentric. “We are excited about offering this service to AmeriQuest customers to improve their efficiency and provide them with measurable savings of time and money.”