OPTIMIZE E-INVOICING WITH A COLLABORATIVE PORTAL
Published on 21 June 2017
Between regulatory obligations and the benefits of productivity, e-invoicing is here to stay. Once companies have overcome compliance issues, they become increasingly more convinced by the business benefits of e-invoicing. As such, a collaborative portal is an ideal addition to e-invoicing and e-archiving solutions. But how can one benefit from it to optimize their invoicing processes and improve their relations with business partners? Here is an overview of the benefits of a B2B collaboration platform applied to e-invoicing.
Collaborative portal: why should I get on board?
In an increasingly more complex economic context, companies today must get organized if they want to keep a competitive edge. The number of exchanges are growing and requirements are more and more demanding in terms of costs and lead-times.
To improve their performance and relations with their suppliers and customers, more and more companies are implementing a collaborative solution. Not surprising given that supplier management is the most time consuming administrative process, with an average processing time for a supplier’s invoice estimated at 14 days!
The benefits of a collaborative portal applied to supplier relations
By implementing a B2B collaborative platform, companies can benefit from many functional advantages and thus improve the performance of incoming invoice flows:
- Bring together all digital stages of Purchase-to-Pay on a single application is the best way to effortlessly set up reliable audit trails. By using a shared approach to database management, invoice data is gradually compiled by collecting elements from logistics and order flows.
- Reduce disputes as well as dispute resolution efforts. With automatic control mechanisms, invoices are approved before being sent to buyers and should a dispute arise, the suppliers are notified and asked to correct the invoice online.
- Reduce the cost of processing invoices. With a supplier portal, you no longer have to retrieve and download invoices from a company’s system. This task is delegated to suppliers, thus companies save time and reduce costs related to producing hard copies. Various formats are supported: EDI invoices, PDF invoices, online entry,... all in compliance with fiscal regulations in force.
- Improve security and traceability of data. Information sent by suppliers is standardized to make processing easier. Access is managed with various levels of certification to secure data available in real time.
A collaborative portal enriches a company’s relations with its suppliers and paves the road for building real close connections. Acknowledgement of order reception and shipment notices for goods can prevent disputes over supply. As for e-invoicing, it ensures companies and their suppliers have improved visibility over invoicing and payments.
Focus on the Generix Supplier Portal
The Generix Supplier Portal developed by Generix Group covers the majority of a company’s business, logistic and financial processes with its suppliers. This B2B collaborative solutions offers various functions to facilitate exchanges and collaboration:
sharing and maintenance of databases (product files, prices, catalogs, bank data...);
order management and tracking of the shipment of goods;
supplier invoicing and creation of payment notices;
management of invoicing disputes;
assistance for the automatic reconciliation of invoices;
creation of credit notes;
determination of performance indicators and even sales forecast charts...
Available in SaaS mode, the solution can also be interfaced with customer management applications for improved coordination of services.