Invoice Management
Invoice Management Solution
Making invoicing faster, more accurate, fully compliant and automated.
Things it will do for you
Account Payable Automation
Streamline Accounts Payables and make it paperless. Upon awarding a service or business, the platform will enable you to issue a PO and receive suppliers invoices. The system will email notifications and obtain needed approvals. This automation process will enable you to reconcile your invoices and get real-time reporting.
Verify & match invoices
360° visibility to reconcile invoices all on one dashboard. After issuing POs and receiving invoices from your suppliers, your accountant will be able to do a 2-way match or even a 3-way match by getting the end users onboard the vessel to confirm the quantity supplied and quality.
Real time visibility & Analytics
Our system provides real-time analytics for better financial decisons. Budgets, cash flows and spend reports are all updated instantly in the system. Our system will keep real time track and logs all financial transactions. Giving you a 360° view of where you stand on each expenditure, on each vessel, and on every route or port.
Keeps Workflow & Notifications
The system enforces internal workflows and corporate hierarchies. Invoices must be approved by authorized person(s). Automated approval workflows for matched, unmatched and invoices pending resolution. Notifications are also managed and sent to the assigned departments depending on the defined access rights within the system.
Dynamic Discounting
Now you can leverage quickly reconciled invoices for early-payment discounting. A lot of suppliers are willing to provide discounts on early or on time payments. Unlock the working capital value of innovative payment strategies.
Integration & Security
eInvoicing e for Efficiency, Excellence Not Errors
Making invoicing faster, more accurate, fully compliant and automated is not only critical for the procurement process, it’s good for business. Replace tedious with accurate and expedient. Control spending and bring all your operation’s finances in one portal.
Purchase Orders and invoices in one place for approvals and verification.
No room for errors, only efficiency and excellence.
how does it work for me?
The average cost to process an invoice in 2016 is $13.04.
Even a 10% or 20% reduction in per-invoice cost can save significant money. (Ardent Partners)
When your financially more aware, you win.
Matching & Verification
Why let manual processes create errors and bottlenecks? Our Invoice Management solution helps you establish total control by facilitating invoice matching which allows you to do a 2 or 3-way match of the purchase order, items delivered to the vessel and invoice. Exceptions are quickly identified and presented to the user for resolution.
Approval
Now you can get the approvals needed for payment through an automated approval workflow for matched, unmatched and invoices pending resolution. Ensuring efficiency while maintaining structures and workflows.
Enhance working capital
Capture more discounts with efficient accounts payable processes, deploy dynamic discounting, or enable early payments to suppliers in return of higher discounts. The ability to see your payables against your cash flow and budgets will enhance your organization’s working capital.
Automatic PO receipts
Upon choosing a vendor from the auction or closed RFQ you will be able to issue a Purchase Order with your company’s logo and information.
Invoice Receipt
Touchless invoicing is the fastest, easiest way to improve productivity, reduce operational costs and accelerate the invoice-to-payment cycle through procurement integration. Invoices can be received automatically from our platform, entered online to the right department and sent to any accounting software or ERP.
Automated notifications
Our Invoice Management module will relieve your company of the administrative burden associated with receiving, reviewing and disposing of paper invoices. All approvals and actions are logged and noted to assigned users automatically.
Simple Integration
The platform provides you with a single, central access point wherein you can receive all your purchase invoices as true e-invoices. We validate and convert the invoice data for you before pushing the invoices into your chosen accounts payable (AP) automation platform.
Align Costs with Budget
Your organization has now the ability to obtain up to the minute visibility on your spending and costs. Making financial decisions and meeting your budgetary targets just got easier.
How does it empower suppliers?
Giving beyond discounts and deals.
When your financially in control, WOW.
turn Suppliers' Small Business to Smart Business
Empowering your suppliers to become a smart business will cut down on their costs from human capital and other corporate expenses enabling them to focus on servicing your business with lowers costs. You are preparing them for success through efficiency. They will return the favor to you; passing the savings on to you.
Better Information = Better relations
The more your suppliers know about your corporate goals & KPIs the better and more effective they would be in winning your business and relationship. The platform will enable suppliers to know more about your demands and more about their services. When bidding next time supplier will make sure to get you competitive prices. Or when you share your score cards they will ensure providing you with better quality.
Visibility & Analysis = Better Decisions
Now your suppliers can know where they lose your business and can become more effective in winning your business.
Free of Cost = Savings onto you
The powerful tools and solutions our platform provide to suppliers are all free of charge.
Ready to manage your cash flow, spend and working capital with AP automation?
Accounts payable is in a key position to provide accurate forecasts of corporate cash requirements. However, efficient cash management requires process control and real-time visibility to obligations. Try it now risk-free.
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