The Asignet Platform platform provides you a holistic environment of your billing vendor accounts, where you can manage all of your communication data and expenses in a single application. It delivers evidence-based insights you need to detect and respond to changes that drive excess costs; and provides you with streamlined and effective processes that span from invoice receipt to payment. 

Using the platform to support your company's invoice lifecycle simplifies access, and management across your vendors and services in one platform.

Summary

The Invoice Lifecycle is managed through an “Inbox-Paybox-Archive” process in the platform. All invoices that are ready for consumption are posted to the Inbox; here you will review, validate, and approve the invoice.

Once the invoice is approved, it advances to the Paybox stage where it is considered ready for payment. At this stage, the platform will produce an Account Payable export file and deliver it to the Client's AP department / system so the invoices can be paid.

Finally, after the invoice has been exported, it advances to the final stage: Archive. The invoice will remain in Archive for reference in reporting or historical research.

Key Benefits

Understanding the lifecycle in the platform

During Implementation, we gather your accounts and invoices to build your communications data and expenses environment in the platform. Invoice management is a key cornerstone to our platform and will drive not only billing validations, but many of the inventory and ordering validations as well.

Your invoice lifecycle starts with the vendor generating an invoice, whether it's paper, CD, or electronic media. The vendor provides all the invoices to Asignet for processing where our experienced Invoice Operations team processes all received invoices, conducts Quality Assurance (QA) checks to ensure data quality, and then posts the invoices to the Inbox, where it's visible to you in the platform. 

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We support approval workflows for your invoices as well; you may designate a single approver for your invoices, or create an approval hierarchy (calledMulti-level Approval).

Once approved, the invoice advances to the PayboxInvoices - Payboxin the platform where it's considered ready for payment. Our platform supports several payment processes in the Custom Financial Report module:

• Manual export:users will select invoices ready for payment and will create the AP export file upon demand

• Automated export: the platform will export invoices at a set frequency, determined by your company. For example, each Wednesday at 5PM (ET) all invoices in the Paybox are exported for payment and an AP file is created and delivered to a designated FTP, email, or company AP system. 

Finally, invoices move to Archive for record keeping purposes. You can use our reports and dashboards to review and analyze your invoice data any time. 

How invoice data enhances your platform environment