What is Verify for Xero?
Xero is a highly-rated cloud-based finance system designed for small businesses, accountants and bookkeepers.
Popular among businesses that require a cloud-based finance system with higher levels of functionality, it is easy to see why it ranks highly for many small and micro businesses. But, like all software, it has its limitations, particularly when it comes to supplier invoice processing. With business growth comes increasing invoice volumes, and therefore more time spent just on processing invoices, ensuring they have been typed into Xero correctly and fully approved before payment.
This is where Verify can help.
Verify is a cloud-based automated invoice processing system that helps make invoice processing easy.
Verify intelligently captures the header and line items from your supplier invoices, automatically matches to the relevant purchase order/s and routes any exceptions for approval. Other (non-order) invoices, are pre-coded, amended if required and approved via fully flexible routing, and are subsequently automatically posted to Xero.
Verify gives you the confidence that the data posted to your finance system is approved, correct, and ready for payment. Verify allows you to maintain control throughout the process, knowing exactly where each invoice is and where it has been. Plus, Verify has flexible reporting capabilities, allowing you to create customisable reports that are suitable for your specific business.
Don’t just take our word for it…
How does Verify Compare to Existing Xero Functionality?
1
Identify duplicates and potential duplicates.
Xero With Verify
Xero Standalone
2
Automatically notify and remind approvers that they have an invoice to action.
Xero With Verify
Xero Standalone
3
Invoice authorisation on the go via web browser.
Xero With Verify
Xero Standalone
4
No need to print or email invoices for processing.
Xero With Verify
Xero Standalone
5
Image automatically saved against the transaction.
Xero With Verify
Xero Standalone
6
Full audit trail of approvals and processing.
Xero With Verify
Xero Standalone
7
Automated posting of header and line-item data to Xero.
Xero With Verify
Xero Standalone
8
View invoice no matter where it is in the process.
Xero With Verify
Xero Standalone
9
Immediate visibility of invoice after it is received/scanned.
Xero With Verify
Xero Standalone
10
Auto-posting of purchase order invoices if they match.
Xero With Verify
Xero Standalone
11
Multi-level approvals.
Xero With Verify
Xero Standalone
12
Customisable invoice routing.
Xero With Verify
Xero Standalone
Functionality
Xero with Verify
Xero Standalone
Identify duplicates and potential duplicates.
Automatically notify and remind approvers that they have an invoice to action.
Invoice authorisation on the go via web browser.
No need to print or email invoices for processing.
Image automatically saved against the transaction.
Full audit trail of approvals and processing.
Automated posting of header and line-item data to Xero.
View invoice no matter where it is in the process.
Immediate visibility of invoice after it is received/scanned.
Auto-posting of purchase order invoices if they match.
Multi-level approvals.
Customisable invoice routing.
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Discover how Agilico’s Verify can support you on your journey towards digital transformation.
How does Verify for Xero work?
The process begins when an emailed invoice arrives into the system. Verify intelligently captures relevant header and line item data from each invoice, including supplier name, invoice number, invoice date, PO number, net, VAT and gross. All submitted invoices show up instantly in the system, no more waiting for hours and hours for them to appear.
This saves you and your employees a significant amount of time typing invoice data directly into Xero and ensures the data posted to your system is correct. Verify removes the need to print out your invoices or email them around the business for processing.
Verify will also identify if an invoice is a duplicate or a potential duplicate where it may have either the same invoice value in a similar date range or the same invoice number with a different value or date. This reduces your chances of making duplicate payments, saving you both time and money and the tricky task of trying to claw the money back.
If there is a relevant purchase order for an invoice, Verify will automatically post fully matched invoices, enabling straight-through processing. This means your staff no longer need to manually match invoices to POs, saving them time.
Verify allows you to have up to three levels of value-based approvals and unlimited approval routes. The system allows flexible invoice routing by department, nominal, supplier, project, etc. or custom routes created and designed by you.
In this way, Verify is designed to fit your specific business processes and allows you to control exactly who can take action on an invoice. Additionally, if a colleague leaves, moves departments, or if you have any new starters, it is easy to update the user responsible for different tasks. Verify allows unlimited users as standard, so everyone who needs to be on the system can be.
A common error a lot of businesses make is accidentally coding invoices to the incorrect area, causing accidental overspending on budgets. Verify makes coding more visible, all staff can see exactly what codes have been selected and which areas of the business they apply to. This means that invoices can be sent back if the coding is incorrect before committing to Xero. This reduces errors and overspending on values posted to incorrect budgets.
Remote and hybrid working brings new ways of processing invoices. If your business previously printed out invoices and left them on colleagues’ desks for approval, there would now be a delay if that person was out of the office. Switching to emailing invoices may reduce the time to view invoices, but it is also less controlled. Likewise, for businesses with multiple offices spread across the UK and even the world, posting invoices to these locations consumes time and could result in invoices being paid late.
With Verify, however, the relevant employees get their invoices for approval instantly. Verify is cloud-based with access via web browser, meaning anyone with a computer, laptop or even mobile phone can approve their invoices from anywhere at any time. When an employee has actions to take on an invoice, an email is sent out, with automated reminders for those slower to respond. This means your invoices are ready for payment sooner, reducing late payments, and ensuring only the correct employees approve their own invoices.
Once an invoice has been fully coded and approved it is automatically posted to Xero. This means you no longer have to spend your valuable time manually typing in invoice data into your system.
Verify allows you to see all the steps on an invoice’s journey, from the point of receiving the invoice into the system, getting it coded and approved, through to posting. You can even see who has simply looked at an invoice. This means you can maintain control over your finances, and it comes in handy at year-end.
Every finance function needs a strong and easy-to-use reporting functionality to help you to stay in control of your finances. Verify’s reporting tool allows you to create a variety of reports to suit your needs.
Verify’s users have created reports that help them understand how much they owe to each supplier that month, reports that show how much they have spent against certain departments, projects, cost centres, etc., and even a report that helps them with payment practices reporting. Some users also find it useful for seeing exactly where each invoice is in the process, and can also prompt other Verify users to finish processing some invoices so they are ready for payment before month-end.
Verify comes with completely free set-up and training. We also provide system support from 9-5.30 Monday-Friday as well as installations after hours if required. Verify is regularly updated, all updates to Verify are free and occur after hours, so you will never have any downtime. We always make you aware of any upcoming enchancements so you can prepare in advance.
Verify Customer Stories
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Discover how Agilico’s Verify software can support you on your journey towards digital transformation.