The Electronic Invoicing Platform from TrueCommerce Replaces Paper Invoices, Eliminating Scanning or Manual Data Entry
E-Invoicing from TrueCommerce
TrueCommerce’s e-invoicing solution provides a managed service that frees you from having to scan or key-in information from paper invoices. Electronic invoicing improves accuracy and reduces processing time so that you can focus your resources on other key business functions.
Delivered as a fully managed cloud-based service, TrueCommerce e-invoicing helps businesses of all sizes, and their suppliers, exchange and process electronic payment documents. E-invoicing from TrueCommerce reduces the time it takes to process invoices and improves accuracy. Invoices received from your suppliers are formatted for seamless integration into your Accounts Payable (AP) system, eliminating the necessity of any data input for either party.
This approach, combined with our supplier onboarding services, ensures you can achieve a high adoption rate with your suppliers regardless of their technical resources.
E-Invoicing Software Processes Invoices Quickly and Efficiently
Businesses have traditionally been more focused on simplifying and streamlining their delivery and warehouse management processes by exchanging business documents electronically. E-Invoicing applications take this process to the next level, considerably reducing the time and cost of processing supplier invoices.
CFOs and finance departments will find the TrueCommerce e-invoicing platform invaluable in expediting the approval process and responding to and processing their suppliers' invoicing queries. Organizations can streamline their accounts payable processes, reducing the cost, complexity and workload involved as well. In addition, TrueCommerce e-invoicing facilitates legal, tax and legislative compliance for over 40 countries.
How TrueCommerce E-Invoicing Works
E-invoicing services enable all of your suppliers (not just the largest) to send electronic invoices to you. This universal approach allows you to maximize the number of suppliers in your e-invoicing program and make it easy for them to send you paperless invoices. While you can benefit from onboarding just your key suppliers, the benefits increase considerably if all of your suppliers send you invoices electronically.
Here’s how it works. The e-invoicing software converts invoices from many formats and sources into one standardized set of data that can be quickly and easily imported into your accounts payable application.
Your suppliers can choose to send invoices any of these ways so that you receive the invoice electronically in a uniform data format:
- Electronically from their accounts payable application.
A wide range of invoice formats are supported, including XML, CSV, EDI invoicing, PDF and application specific formats used by Sage, JD Edwards, SAP, Dynamics NAV and many others.
- In a PDF file as an attachment to an email.
An OCR module converts the PDF invoices to XML and ensures proper formatting as an electronic invoice document.
- Through the TrueCommerce OneTime™ portal which converts an order, shipment, or receipt into an invoice.
No matter which method a supplier chooses to send you an invoice, the TrueCommerce system validates submitted invoices using your preferences and checks them against the purchase order, shipment, and receipt. This feature improves invoice match rates and reduces the time to clear invoices for payment.
Through the e-invoicing solution, suppliers will gain full visibility of the status of their invoices which greatly reduces administration time by removing the need for additional invoice status communications.
Why Choose TrueCommerce E-Invoicing?
Free-up working capital. With TrueCommerce E-Invoicing, there is no need to maintain hardware or software in your environment: we provide e-invoicing as a hosted managed service. TrueCommerce manages the entire implementation process, using proven methodologies which minimize risk during supplier on-boarding.
Eliminate costly errors. The e-invoicing solution has a powerful combination of easy-to-use functionality that includes rule based invoice validation. This feature eliminates another potential burden on your accounts payable staff by automatically rejecting invoices that do not meet requirements.
Those invoices that fail validation can be:
- Accepted, with a warning sent to the supplier
- Held for review by your accounts team
- Automatically sent back to the supplier for correction with notification of what does not meet requirements
Improve supplier relationships. The benefits of invoice validation do not just apply to your own operations, suppliers also appreciate the early warnings that there is an issue with their invoices, as it enables them to correct issues immediately and ultimately avoid delays in receiving payment.
What’s Included in the TrueCommerce E-Invoicing Solution?
- Supplier on-boarding and training
- Service desk with a team of specialists that monitor the delivery and processing of your messages and manage any issues. This service desk is available to you and your suppliers
- Invoice storage and archiving to meet the requirements of the relevant tax authorities
- Interfaces to BACS payment services
As this TrueCommerce managed service is fully scalable, you can easily expand from electronic data interchange (EDI) invoicing to sending and receiving other transactions through EDI such as purchase orders, remittance advices, credit and debit notes, and more.