See Tracked Changes for Faster Invoice Processing
One of the wonderful things about the computer age is the ability to do business from vast distances instantaneously. This development has, for example, enabled two or more writers to not only work on a document together from opposite sides of the planet, but actually see what one another is doing in real time.
That concept was not lost on us when we developed our cutting-edge electronic invoicing platform, InvoiceWorks®. It’s the most comprehensive way to solve the invoicing concerns of accounts payable departments and their vendors at the same time.
Among the many popular features offered with InvoiceWorks® is the ability to see and correct errors in real time. Using its File Upload feature, vendors are able to go into their customized account and see their invoice as it is being processed. Sometimes an error is made on one end or the other, which, in the past could delay payment for days, if not weeks. Not with start-to-finish AP Automation. Using InvoiceWorks®, a vendor or AP employee can make corrections on the spot. Moreover, every change is tracked, and the record can be viewed at any time.
With InvoiceWorks®, the vendor does not have to upload a whole new file to replace the old one containing a mistake. Instead, it can be corrected right there online. Larger suppliers can also take advantage of the Automated FTP which expands File Upload with automated scheduling and status response capabilities.
InvoiceWorks® provides two other functions that help keep the payment process moving along smoothly and efficiently. Using the Invoice Status and Resolution functions, a vendor can learn about issues and disputes as they happen, rather than finding out weeks later during a frustrated phone conversation. In fact, the vendor can communicate online directly with the individual responsible for the issue. Since the vendor is able to go right to the source, the AP department doesn’t have to take on the role of mediator.
This whole process is tracked for each invoice, so that it can be referenced later by either the vendor or the customer. Visibility, instant information exchanges, and tracking changes all help speed up the process of dealing with invoice changes and errors exponentially. And if you haven’t already guessed, it provides for a better vendor-customer relationship.