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Accounts Receivable Automation
At a time when companies are struggling to control working capital, one area that can provide quick relief is accounts receivable automation. Eliminating the manual processes associated with this function can help companies:
- Eliminate duplicate invoice entry
- Effectively manage status updates and attachments to invoices
- Proactively improving customer service with suppliers
The Accounts Receivable Automation solution provides:
- eInvoicing – Eliminates manual invoice entry and has multiple integration options for suppliers to create on the Web or via B2B from their billing system.
- Self-service Invoice Status Updates – Enables suppliers to track payments, cutting down on phone calls to determine status.
Key capabilities, and benefits to your suppliers include:
- Invoice Attachments – Suppliers can attach field tickets, service tickets or goods receipt documents
- Configurable Approval Workflow – Invoices can be routed for approval based on type of invoice, approver, requestor, cost-center, etc.
- Support Multiple Invoice Types
- Purchase Order (PO) Flip – Suppliers “flip” POs or lines within POs to create invoices and add any relevant attachments; PO data is carried over to the invoices with minimal opportunity for errors
- Non-PO Invoices – Suppliers can submit invoices for services performed or products delivered based on work authorizations or requisitions; such invoices, after initial validation-at-source, are routed through OneSCM Workflow, including routing to the originating authority and finally routed to AP for acceptance and automatic entry into the back-end financial system
- Credit / Debit Memos – Suppliers can review submitted invoices and “flip” them to create credit / debit memos; these can then be routed internally within the organization using OneSCM Workflow for approvals and updates into your back-end system
- XML Invoices – Suppliers can submit XML invoices with attachments; OneSCM supports several industry standards and protocols, and can also work with custom formats to ensure alignment with the appropriate standard chosen by an organization
Learn more about how Accounts Receivable Automation can lead to retention of cash, reduction of costs and stabilization for an organization and its trading partners.