High Level

Presentation

INVOICE TRACKING,
APPROVAL AND PAYMENT
SYSTEM – ITAP
From

Microware Solutions Limited

Lagos, Nigeria
1
What is ITAP?
Stands for Invoice Tracking, Approval and Payment
System
It’s a system aimed at reducing the overall
processing time of 3rd party and sub-contractor
invoice
A system that will bring transparency to all the
stakeholders in the invoice processing of your
company– providing the required information and
reports promptly to both management and the
vendors alike
An efficient way of tracking invoice movement
2
Why Microware?

Platform Independent Technologies

Database Independence
Track Record Experience in Related Systems
Scalability, Flexibility & Reliability of Systems
provided
Implementation of High Level of Database,
Application and Infrastructure Security is basic
with our systems

3
Problem Statement:
There are delays in the processing and
approval of invoices
There is not enough information to all the
stakeholders on the status and position of
invoices
Most of the times invoices are accepted
without all the supporting documents
A lot of human efforts and resources invested
with minimal results
There is need to reduce the overall invoice
processing and approval time to 12 working
days
There are limitations to the kind of reports
Target Solution: ITAP
ITAP portal is a web system that will interact with
all the stakeholders in submission, processing,
approval and payment of invoices
ITAP will have facilities to route invoices
electronically within the organisation for
endorsements, approvals and payment
A system that will interface directly with the
FinanceMagic accounts software such that invoices
are automatically available at accounts for
payment
A system that will monitor invoice movement, track
time spent at every section and generate alerts
and notifications to all stakeholders on the status
and position of invoices

5
Objectives of ITAP
Provide a platform for electronic collection,
processing, monitoring, approval and payment
of all invoices and bills from subcontractors,
suppliers, third parties etc
A system that will integrate all the units and
departments that play parts in the invoice
processing and payment value chain
A system the will interface with third parties
and subcontractors via the internet for
submission of invoices and support documents
A system that is able to send alerts and
notifications to all stake holders on the
positions of invoices and their required actions
 OBJECTIVES
CONTINUE...

One stop centre to get all information

regarding to payment of invoices and bills
Generate summary & special reports for
management
To provide highly functional financial trail tools
that enable your finance department trail the
history of all payments made over periods

7
Our Approach:

System Components
System Overview

Main Features

Special Feature

8
The System Components
The system will provide a multi-tiers architecture
comprising the following;

 A Back Office Application:

 
This application will serve as the central hub for
managing and monitoring all the other facets of the
system. Specifically, this unit will handle housekeeping,
perform database replications, create and maintain user
profiles
 
The back office application will also connect to the
FinanceMagic application for processing and payment of
the approved invoices
 
 
The System Components cont...
 A Web Intranet Application:
 
This web application will be used to receive, route
and approve the invoices for payment. It will be
deployed at the following points;
 Account front desk – for receiving invoices and
generating receipts acknowledgement for the
contractor / third party
 User Department – for
 FAD
 Audit
 MD/EDs
 
This application will be monitored and controlled
form the back office application
 

 
The System Components cont...

 A Web Internet Application:

This application will be made available to

subcontractors and third parties from outstations
through a link on the company’s official website. It
will be used for the purpose of invoices submission.
This will provide convenience to third parties, in that
they do not need to travel down to Lagos to submit
invoices.
 
Invoices received through the internet will be
automatically included into the stream of invoices
being processed in the ITAP intranet.
Overview
Invoice
submission at
your
company
•Invoice submitted Outstation Vendor
at front office submits invoice via
terminal AIP on your online
•Inspected for company And check invoice status
correctness and Website
completeness
•Capture in ITAP

ITAP Central Alerts&

Reports
System Notification

Approved FinanceMagic
Invoice Send
Submitted to notification of
FinanceMagic Payment to

FinanceMagic
Banks
Accounts Software
Main Features
ITAP web portal application for subcontractors and
third parties alike to connect and get relevant
information regarding their invoices and payment
histories

A back office application to reconcile transactions and

provide a pool of data for demography, financial
analysis and general reporting to the stakeholders

Secure firewalls between web front application and

the VPN connecting the back office database

High level AES and 3DES encryption algorithm on all

Main Features cont...

Online Real time synchronisation between

the primary active database server and the
redundant database server at your
company data centre

Payment straight into the designated

revenue account through the etranzact e-
Payment platform

Instant email notification to all

Special Features
 Direct e-Payment to all the banks in the country through
etranzact network

 Control centre for generation and issuance of remittance

advices

 Management and other stakeholders can easily enquire into

the position and status of every invoice being processed
within the system

 Easy generation of reports on invoice and payment history for

each subcontractor and third party

 Special alerts to approving officers for invoices pending their

Special Features cont...
 Highly secured system with rights allocation to users and role
management

 Generation of remittance advices for the beneficiaries

through the platform

 Extensive reports and trails

 Can export data and report in all the international data

exchange formats
 PDF, RTF, Excel, PostScript, XML, TXT, ISO 8530, etc
Questions