Accounts Payable News^®

Electronic Invoice Exchange is an interactive online portal enabling buyer organisations to work more collaboratively with suppliers to increase visibility, reduce transaction costs and accelerate the transition from paper to electronic invoicing.

By providing suppliers with the capability to upload invoices directly to the portal or submit them as paper, buyer organizations can benefit from higher electronic invoicing adoption rates, reduced costs associated with handling suppler enquiries and discrepancies, and working capital improvements through the ability to proactively pursue early settlement discounts and supply chain finance opportunities. 

Through the electronic exchange of invoices and other related transactional documents, buyer organisations can:

• Interact with suppliers online to address enquiries and resolve invoice discrepancies
• Drive supplier migration by offering multiple options for quickly and easily submitting paper and electronic invoices
• Leverage increased visibility into invoice status to proactively propose early settlement discounts with suppliers
• Work with banks or other financing organizations to extend Days Payables Outstanding and enable suppliers to reduce Days Sales Outstanding
• further lowering costs and working capital requirements in the overall supply chain

By adding optional invoice workflow capabilities, organisations can enhance the efficiency of their AP operations with straight-through processing of validated invoices.  This offers unprecedented, real time visibility into transactions flowing through the accounts payable process, while maintaining auditable records on every invoice.