The usual Invoice process takes 1 or 2 days to generate the Invoice and 2 to 3 days for the customer to receive the invoice, if it is mailed. Next you wait for the Customer to approve the Invoice, match it against the Purchase Order, which can take a few days. If there is some concern regarding the Invoice, this only delays the Invoice process further. Next thing you know it’s over 90 days and your Invoice is still outstanding. Is this how slow your Invoices are being paid?
With the help of Pebblejet, you can automate your Invoices by electronically sending your Invoices to your customer, eliminating the manual process and the hurdle of not being paid quickly. Electronic Invoicing allows you to easily manage your invoices giving you the ability to quickly respond to any concerns/questions as well as get an update status of your Invoice without the hassle of calling Accounts Payable.
How does it work?
Once a product or service is delivered, your next step would be to generate the Invoice and send it to the Customer. PebbleJet’s Electronic Invoicing takes the generated Invoice in your ERP system and electronically sends the Invoice to an Electronic Marketplace and to the Customer using cXML format. The Invoice retrieved is generated in cXML format within the PebbleJet Platform according to the specifications and requirements of the Electronic Marketplace and Customer. PebbleJet Platform has a Control Center that gives you a snapshot of the Invoice and retrieve status updates regarding the Invoice from the Electronic Marketplace or Customer. This gives you the ability to see whether your Invoice has been approved or is pending payment.
With PebbleJet’s Electronic Invoicing, Invoice process will run smooth and prevent delays in payment. Results show that Electronic Invoicing can reduce your “Days Sales Outstanding (DSO)” by 50%.
- Send Invoices and get paid Faster! You know you sent and resent the Invoice, its past over due, but there is still no sign of payment. Sounds Familiar? By electronically sending Invoices, your Customer, not only, immediately receives the invoices but you receive automatic acknowledgements ensuring the Customer has received the Invoice. The faster the Customer receives the Invoice and begins the Invoice Process, the sooner you’re likely to get paid.
- Reduce Paper Invoice and Process Cost! You know postage stamps are getting costly every year. There are times when you have to resend an Invoice if it gets lost in the mail. And now you’re considering going Green and reducing the paper you use in your Organization. So how can you use less stamps and less paper? By switching to Electronic Invoicing, your Customers will directly receive invoices in their inbox reducing any direct cost such as postage and printing or re-printing invoices that go missing. Not only will you use less paper, but reduce overall cost.
- Resolve disputes quicker! Is your Customer delaying the process to pay your Invoice because it doesn’t meet their requirement or there is a conflict in the quantity on the Invoice? Through Electronic Invoicing, the customer will immediately be able to see the Invoice, they will be faster in alerting you regarding any concerns they have about the quantity, price or even if the requirements are not met according to their process. This gives you the opportunity to quickly look into the concerns of your Customer and resolve them accordingly.
- Eliminate Errors! Do you have to resend Invoices due to errors during data entry? Not only will the Customers electronically receiving their Invoice and eliminate the manual process of entering the Invoice in their system, but as Suppliers you can ensure the Invoice corresponds to the correct Purchase Order and it states only those products shipped to the Customer.
- Reduce Days Sales Outstanding (DSO)! Wouldn’t it be great to convert your sales into cash faster? It’s every Organizations dream to see a significant amount of inflow to their Cash flow. By implementing Electronic Invoicing, Customers will have the ability to quickly respond to Invoices and run the Invoice process faster. You will be able to see any hold-back on your Invoice and quickly respond to it, which will significantly reduce your DSO.
- Receive Status Updates! Do you hate constantly calling Accounts Payable to know where your payment is? By electronically sending Invoices to your Customer, you will have the ability to receive status updates on where in the process your Invoice is. Whether it has been approved or is in the process of being paid, you will be able to see an Update every time the Invoice moves along in the process.