Think of all the time your AP staff spends processing paper invoices: matching them with POs and goods receipts, correcting errors, and fielding supplier inquiries. Still, you can see only so far into invoice processes, leaving you exposed to risks like overlooked billing discrepancies, missed discounts, and overpayments. The thing is, you already know there's a better way: e-invoicing. The challenge is figuring out how to get all your suppliers on board.
Here's how: with Ariba Invoice Management.
It's the Smart Invoicing solution that makes sure you receive the right invoice every time, and it's the only one integrated with the Ariba Network. That's the world's largest trading partner community, so odds are many of your suppliers are already part of it. If not, it's quick and easy to enable the rest of your suppliers through the Ariba Commerce Cloud. Once you've done so, you can collaborate more effectively, eliminate 98% of exceptions, cut most processing costs, speed up approval cycles, and capture more discounts.
And watch your team transform in the process – from a paper-processing group to a proactive team of analysts, focused on strategically improving cash flow management.
Learn how you can...
Gain total supplier participation.
Until now, the high cost and technical difficulties associated with custom-built or enterprise portal solutions were obstacles to implementing an automated e-invoicing solution. No longer. Your suppliers that are not already participating in the Ariba Network can be enabled quickly and easily using a range of automated supplier enablement tools and connectivity options, best suited to their specific level of invoice activity. These include the Ariba Supplier Portal, accessible with just a browser and an Internet connection. And if any suppliers insist on sending paper invoices, you can scan and convert them with Ariba Invoice Conversion Service.
Speed up invoice approval cycles.
Processing paper means costly delays. Speed things up by improving invoice quality. Errors drop dramatically with Ariba's Smart Invoicing. It automatically validates invoices against contract terms at the time of submission. Any invoices with errors or omissions are rejected and routed for efficient handling. This achieves touch-less processing for about 98% of your invoices, as compared to other network approaches like EDI that can boast a maximum efficiency rate of only 60%. With compressed invoice approval cycle times, your team can leverage its speed and efficiency to secure additional discounts.
Reduce supplier inquiries.
Ariba Invoice Management can provides your suppliers with self-service tools that eliminate their need to call for status reports. Online dashboards centralize all documents and communications, so they can view approvals, payments, rejected orders, and more. This readily available information helps suppliers with cash forecasting and dispute resolution. Make it easier for your partners to work with you, and you'll enjoy the benefits that come with stronger vendor relationships.
Achieve 100% on-time payment performance.
While using Ariba's solutions for fully automated invoice management means you can achieve virtually 100% on-time payment performance, it doesn't mean you have to compromise your DPO management. Instead, think about extending DPO by routinely agreeing to pay invoices on their due date, rather than upon receipt. You needn't worry about late payment fees; automation avoids them. The key here is consistency: if your suppliers decide they need payment sooner, they'll be motivated to offer discounts in exchange. And that's a nice way to support Procurement's efforts to negotiate new supplier contracts.
Reduce supply chain risk.
Greater visibility, enhanced connectivity, and improved collaboration all contribute to stronger supplier relationships. And by implementing a more efficient invoice process, you can help your suppliers reduce their DSO, on average, by five days. By supporting their working capital management efforts, and working more closely in mutually beneficial ways, you can help keep your suppliers strong and viable. And this contributes significantly to the financial health of your supply chain.
Ariba Invoice Management is delivered through the Ariba Commerce Cloud, a web-based utility that contains everything you need to engage in more competitive commerce. This includes solutions for a range of spend management capabilities -- such as procurement, sourcing, and supplier management – as well as collaborative financial management. Whether you’re buying, selling, or managing cash, you can do it better in the Ariba Commerce Cloud. Learn more about the Cloud.
Request more information about Ariba Invoice Management and invoicing software.
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