By now you’ve probably heard a bit about the benefits of e-invoicing or perhaps you have used the service for your own business. The specific invoicing platform you use has a dramatic impact on how positive your experience will be. We are extremely grateful to our customers for providing feedback through our customer surveys as a way to continually improve our service. This most recent quarter’s results showed a 98% satisfaction rate* among users of the Cortex Network. We decided to take some time to explore the features most loved by our customers. Here is what we found:
Invoices are submitted and processed with greater efficiency
With an automated system, including Buyer-specific data referencing, Suppliers can submit invoices and have them go through the necessary controls and approvals, all resulting in faster payment. With these validations in place, Suppliers can provide more accurate information, reducing the number of invoices that are flagged as an exception due to error and would require further examination before a payment can be processed. Additionally, submission of the data to the Buyer is instant versus files attached to emails, or worse, paper invoices that can be physically lost or misplaced.
Invoices can be tracked in real-time
Adding efficiency to the payment process is the ability for a Supplier to view the real-time status of their invoice. Why efficiency? If you don’t need to call or email to check on the status of an invoice, you’re saving time and money. You know when the Buyer received it, if it’s gone through the necessary approvals, and if payment has been issued.
Transparent reconciliation and storage
When Suppliers need to reconcile payments, the online system makes it easy to access past invoices paid, as well as all other detailed AP information that may be required for your accounting processes and audits. With every invoice stored in the cloud, they’re easy to find and leverage when needed.
Reduction in errors and costs
Thanks to Buyer-specific data references, most data fields are validated before submitting; however, in the event of an error that was not in the data set but caused the invoice to be flagged, Suppliers will receive direct messaging that not only notifies you that there is an issue with the invoice, but what it is and how you can go about resolving it.
Along with the cost of delayed invoices, adopting e-invoicing provides other tangible savings in:
- data entry
- invoice storage
- scanning of documents
- and even mailing costs
Every step of the process is faster and more cost effective than in the days of paper or emailed PDF invoices.
Flexible connection methods to suit each vendor
Getting access to e-invoicing platforms via a web portal is easy and intuitive, requiring no software downloads or installations. Through various means of connecting to Buyers, Suppliers can choose the type of automation that best suits their needs and existing technology. Whether they choose to submit their invoices through a portal or exchange documents with a fully integrated solution, they get the benefit of improved efficiency and visibility.
Extensive support available to Suppliers
Having support available to Suppliers in multiple formats makes it easy for them to get the help they need. Through live chat, online help, email, or by phone, there’s always a way for Suppliers to access friendly, personal assistance when leveraging a quality e-invoicing platform, like Cortex.
As proven by our 98% customer satisfaction rating*, our team can not only help get Suppliers switched over to an automated system, but also make the experience a positive one!
*Customer satisfaction statistic as of June 28, 2018