The integration of our supplier payments solution into e-invoicing platforms allows for fully automated payment of prequalified invoices.
Traditionally invoicing has been a heavily paper-based process that is both manually intensive and prone to human error which increases cost and processing times. Businesses are increasingly moving to using an integrated electronic format when exchanging invoices between suppliers and buyers – reducing time spent on these processes.
We have partnered with leading e-invoicing providers who allow customers to exchange information including invoices, credit notes and payment advices electronically. Our integration into these systems allows for a payment to be generated and sent to the supplier when you approve an invoice received via your e-invoicing system. This payment is specific to that particular invoice which allows for reconciliation to be automated – reducing workload in your accounts payable department.
You will be able to access a credit line at no cost which can help your business to successfully manage cash flow requirements. When using our supplier payment solution in conjunction with your e-invoicing platform you will benefit from automatic reconciliation and a payment that is specific to a particular invoice.
Suppliers receive payment in real-time and can be paid according to agreed payment terms – which can help improve the relationship you have with suppliers by ensuring that late payments are avoided. Where a discount is offered for early payment you can take advantage of this while benefiting from a credit line to manage the working capital needs of your business.
The integration with e-invoicing platforms also allows you to save up to 3% and streamline processes when paying international suppliers by benefiting from our extensive currency capabilities and a supplier payments solution that can be accepted by suppliers using their existing systems.
Learn more about our electronic invoicing integration with Voxel’s baVel platform.