Everything You Need to Know About Automating Supplier Invoices

by | Oct 11, 2021 | Blog | 0 comments

Everything You Need to Know About Automating Supplier Invoices

by | Oct 11, 2021 | Blog | 0 comments

Invoice processing needs great attention, and it is one of the most time-consuming processes for any organization. One cannot afford to have errors in generating invoices. Even the minute details matter the most. Accounts and financial teams are constantly dealing with invoices-related activities and do become unmanageable as the business grows.

With the use of EDI (Electronic Data Interchange), it is easy to generate invoices. The automation of invoice management has benefited companies in multiple ways. Automating supplier invoices eliminates human error, saves time, reduces cost, and manually storing bills and papers.

Automation and digitalization have become highly crucial for all companies, whether they have high commercial transactions or a small number of day-to-day transactions.

How to Implement an Automated Invoice System?

Automated invoice processing uses an automated system to generate invoices, process payments, and populate the data and information regarding the accounts payable.

With an integrated solution, when a transaction takes place, it gets directly integrated into the organization’s system. One of the plus points of integrated solutions is their feasibility and scalability. An integrated approach is limited to generating invoices and helps manage documents, data, and other important information with the people associated with the firm.

How are supplier invoices automated with HubBroker? 

When an organization receives an invoice from the outside supplier, we conduct pre-validation in compliance with the legal and technical bindings of the particular country from where the supplier is operating its business.

Invoices received are thoroughly mapped and tracked to the data structure that your iPaaS can automatically integrate. Accessing our iPaaS solution is very easy, and users can access it through any internet-enabled device.

Supplier Portal

Supplier portal service generates automatic invoices for the transactions received. It integrates with the client’s system to automatically send the purchase number to the supplier and create invoices in an electronic document.

Benefits of supplier portal

  • Uninterrupted issuance of invoices as suppliers can generate it from the purchase order data.
  • Authenticated data as cross-references of the invoice is done through automatic integration.

The system is safe to use. It protects your data, provides traceability of the invoices, and notifies about all the transactions and invoice generated. It is updated automatically and provides a constant status update for the purchase order and supplier invoice. When the order is processed, the supplier can check the purchase order and issue the invoice using webforms after the confirmation.

Purchase pay flow 

Our supplier invoice system fully supports the B2B purchase cycle as well. From the moment an order is placed in the managing system, the entire process takes place through an integrated automation invoice.

Client’s are fully updated with the entire purchase order at each step. Everything is fully automated and electronically generated from the order being placed, inventory summary, merchandise destination, and receipt confirmation.

Suppliers can track the exact details and send messages to inform their clients about the shipping, pricing, payments, and other minute details.

Advantages of HubBroker’s Invoice Solutions: 

  • Generates real-time purchase order invoices by saving time and cost.
  • Automation of payment to suppliers via a safe gateway payment process.
  • A rapid and uninterrupted flow of messages and updates for every invoice.
  • Traceability and control over the system make flow smooth.
  • Cost reduction, time-saving, and better management processes leading to an effective and efficient operation.
  • Error-free and faster process.

 

HubBroker provides all-in-one global solutions to implement in an organization’s trading process vi HubBroker’s integration platform(iPaaS). We facilitate the integration process to establish a smooth flow to deliver all the transactions like order summaries, invoices, payments, and other necessary business documents.

Connect with us today to know more about how HubBroker can help streamline processes for your business.

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AUTHORE
HubBroker

HubBroker provides flexible and scalable EDI solutions for small, medium & large-scale businesses. We provide integration services for various business systems such as ERP systems, webshops, business accounting systems and third-party logistics (3PL).