Electronic Invoicing

Electronic Invoicing goes beyond simply digitizing paper invoices. It encompasses the entire process, starting from Orders and linking to Shipments and Receipts, ultimately culminating in an electronic Invoice.

However, most current E-Invoicing solutions only tackle a fraction of the problem - converting paper invoices to electronic format using OCR (Optical Character Recognition). While this process extracts data from invoices, it does not guarantee its validity. Questions arise, such as: Is the order number legitimate? Does the invoice's price align with the buyer's agreed-upon order price?

Consequently, detailed secondary data validation still falls on the Buyer's ERP system, creating additional work for the Accounts Payable (AP) team. Nevertheless, with TPSynergy, this redundant work is avoided as the data is validated upfront. Suppliers are promptly notified if their invoices will smoothly proceed through the ERP system.

By adopting TPSynergy, businesses can enhance efficiency, and accuracy, and streamline their Electronic Invoicing processes.

Data Validation

Invoices data validated with Purchase orders, Shipments and Receipts before being sent to the ERP. 2 Way and 3 Way matching performed upfront and Suppliers informed of any discrepancy so that they can correct and resubmit the invoices.

Data Enhancement

Invoice data enriched with additional contents like Shipments Tracking number, POD (Proof of Delivery) number, and Receipt date so that the Accounts Payable team can quickly approve the invoices in their ERP

Payment Status Update

When Invoices are paid in the ERP System, the status is updated automatically with payment details. This will provide self service to suppliers to view the status of their invoices avoiding phone or email inquiries on payment status.

Auto Invoicing (ERS)

Invoice data is validated with Purchase orders, Shipments, and Receipts before being sent to the ERP. 2-way and 3-way matching is performed upfront and Suppliers are informed of any discrepancy so that they can correct and resubmit the invoices.

Electronic Integration (EDI)

Documents Management

How does it benefit your supply chain?

Improves supplier relationship with timely payment of invoices.
Reduces manual entering and processing of invoice data into the ERP system
Provides payment status visibility to suppliers
Reduces data-related errors and ensures that only clean invoices are sent to ERP
Provides 2-way and 3-Way matching for invoices

TPSynergy.com