Invoice Automation Solution
Invoice Automation: Data Transformation Streamlines Invoicing
Invoice Automation streamlines the invoicing process by translating and automatically delivering supplier invoice data into buyer eProcurement systems.
This capability ensures invoice data is properly validated, formatted and ready to be reconciled for payment.
B2B Connected Commerce Platform Overview
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Common Challenges
- Incompatible invoice data formats and transmission methods require manual data input
- Invoice processing can be a tedious, time-consuming and inefficient process for both Accounts Receivable (AR) and Accounts Payable (AP) organizations
- Manual reconciliation of invoices to POs is error-prone, resulting in longer supplier wait times for payment, increasing days sales outstanding (DSO)
What is Invoice Automation?
A supplier’s system will generate an invoice once a transaction is shipped or completed. Invoice Automation pulls invoice data from the supplier’s eCommerce, ERP or other order management systems, translates the data into a format compatible with the buyer’s preferred invoice delivery requirements.
This version of the invoice is then seamlessly delivered directly to the buyer’s eProcurement or ERP system to be approved and routed for payment.
Trusted by the world’s most innovative companies
Buyers
Manual processes make invoice processing tedious and time-consuming, but automation accelerates and streamlines workflows
- Reduce reconciliation processing time, costs and errors by improving 3-way matching between POs, invoices and order receipts when combined with PO Automation
- Reduce AP personnel costs by minimizing manual processing and inputting of invoices into buyers’ systems
- Ensure on-time invoice payment to be a stronger partner to suppliers
Suppliers
Automating the flow of invoice data to customers prevents errors and delays to ensure suppliers get paid on-time
- Decrease outstanding AR by sending invoices electronically to customers in formats that flow directly into their systems for internal routing for approval
- Enable faster payment by improving customers’ 3-way matching between requisitions, POs and invoices when combined with PO Automation
- Grow revenue from existing Customers and win new large Customers by offering Invoice Automation
The Role of Invoice Automation in the B2B Transaction Process
Thousands of companies around the world rely on TradeCentric’s connected commerce solutions to achieve integrated and automated B2B trade.
PunchOut
Buyer selects a supplier within the eProcurement system, is routed to the supplier’s eCommerce site to shop, then transfers the cart data back to their purchasing system. Order details are then routed by eProcurement for the appropriate approvals.
Purchase Order (PO) Automation
A PO is generated in the eProcurement system, then the buyer sends the PO from the eProcurement system to the supplier in a data format that can be ingested by suppliers’ systems.
Purchase Order Acknowledgment (POA)
Once the request is received by the supplier, a POA is generated with order details confirming that the PO was received and is sent back to the Buyer’s systems.
Advanced Shipping Notice (ASN)
The supplier’s eCommerce system will send the buyer an ASN containing additional shipment and tracking information in a format that can be automatically accepted into the Buyer’s systems.
Invoice Automation
Buyer accesses an electronic quote for a special order in an intuitive interface and then transfers the quote to their eProcurement platform.
eQuote
Buyer accesses an electronic quote for a special order in an intuitive interface and then transfers the quote to their eProcurement platform.
Support for All Common Data Protocols
TradeCentric provides support for all electronically readable data formats.
What you can expect from us
Accountability
We’re your team the entire way from onboarding to customer success—no third party involved.
Cost Management
We control your IT expenses with a predictable, fixed rate for growing trading partner connections.
Domain Expertise
We’ve seen it all with 3,000+ businesses trading on our platform, and we bring that expertise to you.
Risk Reduction
We do everything we can to limit risk with application management, data security and availability.
3,000
+
Global Enterprises
Trading With Us
$
100
B
In Transactions
Processed
15,000
+
Trading Connections
Implemented
99.99
%
Uptime for SaaS
Solution
95
%
Annual Customer
Retention