Sending or receiving, Corcentric simplifies your
entire invoicing lifecycle with EIPP
An increasing number of businesses of all sizes are shifting their accounts payable and accounts receivable processes to electronic invoice presentment and payment software (EIPP), thanks to the considerable cost savings, speed, and security that can be achieved. e-Invoicing is a type of e-Billing, enabling buyers and suppliers to reduce traditional invoicing costs, collect payments more quickly and compete more effectively.
Just a few of the reasons EIPP
continues to grow 20% year-over-year worldwide:
- Cut invoice processing time by 70% and cost by 82%
(Source: The State of ePayables 2018: The Future of AP is Now by Ardent Partners)
- Improve cash flow and gain better control over credit collection
- Ensure data accuracy by removing manual/keying errors
- Eliminate the possibility of lost or misplaced invoices
- Foster suppliers and buyers loyalty through predictable, on-time payments
- Reduce the time spent on exceptions and checking on invoice and payment status
Ready to learn more?
From both sides now: Implement paperless efficiency
— and massive savings — across your invoicing and
It is important to understand that an e-Invoice is not a fax, email, or pdf. It’s a fully digital electronic document from the time it’s created straight through to its approval and entry into the company’s ERP or AP system. It’s easy to handle and more secure than paper invoices. e-Invoices are submitted via EDI, XML, or via a file from a supplier’s billing system. And that can translate into significant savings.
The Benefits of Corcentric EIPP
- e-Invoice Conversion The key to successful adoption of e-delivery is to support customer preference, by providing choice and supporting options. We ensure there is an on-going, systematic approach to the conversion process, achieving an average conversion of 80% across a wide range of different industries.
- Distribution Corcentric offers a wide range of invoice delivery capabilities to meet your business requirements. Documents can be viewed through the Portal, delivered by email with attached PDFs, email links, or through a direct electronic data feed (such as EDI or delimited files).
- Self-Service Customer Portal It allows access, control and transparency over the delivery service and provides an on-going document archive with account management tools. All documents are stored in the cloud, creating an instant archive for easy document search, retrieval and re-sending.
- International Our portal is available in any language, including those with non-Western character sets such as Japanese.
We provide local print and post services, so mail is processed close to its final destination point. This improves delivery speed, whilst reducing stamp expenditure. All our systems are built around scalable technologies so client and document volumes, as well as multiple and varied access requirements, are easily accommodated.
- Secure Corcentric provides a secure electronic format that can guarantee the authenticity of the origin and the integrity of the content of the invoice. This can be achieved by several methods including by means of an electronic signature, in order to ensure regulatory compliance.
EIPP — It’s your invoice presentment and
payments process, only better.
EIPP ensures accurate and efficient delivery of invoices to your customers the way they want. Beyond saving time and cost through invoice automation, EIPP enables a risk-free and seamless shift to electronic invoicing, reducing errors and guaranteed to reach customers, even if they are working remotely.
EIPP enables you to:
Drive down DSO through faster and more accurate delivery
Deliver invoices to customers in the format they want
Remove the cost, delay and risk of sending invoices by post
Automate days of manual processes and redeploy staff more effectively
Simplify reporting on, and auditing of, the invoicing process
Improve customer experience
Gain greater control over, and insight into, billing status
Help achieve compliance and regulatory requirements
Contact Corcentric to learn how we can help you develop
an e-Invoicing / EIPP business case to break down stakeholder barriers.
As with any new technology, internal stakeholder resistance to electronic invoice presentment and payments can occur. However, whether it’s concern over lack of budget, the burden on IT, complacency regarding existing processes, or a lack of understanding of available solutions, the more your stakeholder teams learn regarding e-Invoicing, the more they’ll realize how much the benefits far outweigh the barriers.
Ready to learn more?
Find the 8 benefits that your suppliers will get when they switch to e-invoicing and electronic payments.Download the Guide