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Some benefits of receiving invoices electronically include eliminating data entry, filing, scanning, and basic paper shuffling. Additionally, suppliers key in or upload invoices electronically and thus, never need a paper invoice. The e-invoices are fed directly into the payables system so entire process becomes paperless. Having access to electronic invoices also eliminates phone inquiries.
iPayables allows you and your suppliers to access the status of all invoices (paper or electronic) and streamlines the accounts payable process. Suppliers can check status 24/7 and can pinpoint issues online when the need arises. With issue resolution, disputes can be resolved within minutes instead of weeks.
Invoices are track-able from day one with complete audit history. No more lost or unintentionally late invoices. Our powerful workflow eliminates manual routing tasks and enforces all business rules. Automated PO Match eliminates manual effort and exception processing. iPayables’ Automated PO Match includes two and three way match, tolerances, partial match, and blanket PO functionality; all determined by PO class.
Supplier fees reduce the success of your initiative and can diminish your overall financial benefits. Choose the most effective solution. If you have been in business for more than a couple years, it’s because you understand how to properly incorporate expenses into the fees you charge customers. Your suppliers do the same. If you select an electronic invoicing solution that charges suppliers, you will end up paying those fees. So if an e-invoicing provider sells you invoicing services for $.50 per invoice and charges suppliers an average of $2.50 per invoice (monthly fees plus per invoice fees), you will be eventually paying $3.00 per invoice. True, only $.50 per invoice will show up on that bill from the solution provider, but every supplier is sooner or later going to raise their prices or reduce their quality or service levels to compensate for the additional costs. Sooner or later, your real cost is $3.00 per invoice. With iPayables electronic invoicing with InvoiceWorks®, there are no fees for suppliers to submit invoices. No sign up fees, no monthly fees, no support fees, no per invoice fees. When it’s free to suppliers, you enable a successful initiative. That is why our clients average 70% adoption within the first year of implementation.
With iPayables, there are no fees for supplier adoption. We have the same goal as you: electronic invoicing and automation for every supplier. We assist in developing your supplier adoption strategy. We help craft your communication strategy. We send emails to your suppliers. We make phone calls to your main suppliers and have telephone support available to all of your suppliers. You don’t need to hire or train a specialized supplier adoption team, that’s our job.