Hassle-free, Paperless Invoicing from Day 1

Electronic Invoice Presentment and Payment (EIPP)

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

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From both sides now: Implement paperless efficiency
— and massive savings — across your invoicing and
payments processes.

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.
Cost of an Invoice

The Benefits of Corcentric EIPP

Reduced Costs

Reduced Costs

e-Invoicing can result in cost savings of 60 – 80%.* Using Corcentric, savings can be even greater.

This huge cost saving is mainly due to the reduction in postage costs, paper consumption, manual handling of paper invoices and the cost of equipment used in the printing and posting process.

*Billentis report 2019

Improved Cash Flow

Improved Cash Flow

Collecting money fast is always a major competitive edge. e-Invoicing enables faster payments, less hassle and less delinquency.

Corcentric customers report faster processing and payment of invoices, resulting in greater working capital and free cash flow; enabling business growth and increased financial stability.

Easier Access

Easier Access

Corcentric enables e-Invoices and associated financial documents to be stored securely online.

This provides easy access for internal and external stakeholders, reducing the need for document requests and freeing up time. Online storage also aids internal document searching, retrieval and performance analytics.

Better Workflow

Better Workflow

Wasted time from manual processes has a huge negative impact on business. Corcentric creates better financial — and human resource — efficiency through invoicing simplicity.

Automate repetitive manual processes, freeing up accounts payable and receivable teams to focus on more profitable activities.

Credit Collection

More Control Over
Credit Collection

Even in large and successful businesses, credit control can be one of the last areas to be modernized. Transforming invoicing processes with EIPP results in real-time visibility of invoicing status – including delivery and read notifications.

That improved visibility then provides actionable insights to support credit controllers in reducing late payments, exceptions and disputes.

Corcentric integrates with 3rd party credit collection software, thus achieving seamless and secure access to sensitive documents and expedite credit collection.

Ease of Auditing

Compliance and Ease
of Auditing

Corcentric EIPP assists tax and other regulatory compliance through digital signatures and online record keeping. The admin console simplifies searching and analyzing e-Invoice files, making auditing easier and cost-effective.

Companies that do business globally know that e-Invoicing has grown fastest in regions where government mandates require adoption for tax compliance, such as VAT. For example, over 90% of invoices sent in Brazil are electronic format.

Key Features

Average percentage of electronic format invoices for Corcentric EIPP customers is 80%

  • 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).
EIPP Lifecycle Chart

Number of countries Corcentric EIPP is deployed in is 52

  • 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.

Ready to see first hand how much more savings you can achieve on your invoicing?

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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.

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Speak to an Expert

Ready to see first hand how much more savings you can achieve on your invoicing?

Request a Free Demo