Relaxation of reporting for small businesses
In 2012, the year of the Londn Olympics, we’ve decided to take a quick light-hearted look at the Gold, Silver and Bronze levels of e-invoicing service that are available to suppliers today. Of course, this is just a guide and services will differ from vendor to vendor. For more details of the services provided by Fundtech please visit: http://www.accountis.com/e-invoicing/.
Bronze: E-invoice Presentment
Users of this service can create their e-invoices in a number of ways; (1) By using their accounting package (e.g. Sage) as normal, but printing to a virtual printer rather than a paper printer. (2) By entering the invoice data into an online form. Both these tools generate the e-invoices and deliver them as PDF email attachments, with a link to a copy of the e-invoice online where the invoice data can be downloaded in multiple formats. Benefits to the supplier are plentiful and include:
Access to liquidity and working capital management are top of the agenda for corporates in these testing times. Even though interest rates are at an all time low, Corporates are finding it difficult to readily access capital to assist them in their day-to-day operations. There are many ways a corporate can improve their cash liquidity and optimise their working capital requirements. These range from simple operational improvements, like introducing E-Invoicing to utilising supply chain finance for on-demand access to capital at competitive rates.
We recently published a new white paper which looks at how the AP E-invoicing process works, its benefits, and how it can be rolled-out across the supplier network. Part of the guide takes an in-depth look at the supplier onboarding process and discusses the different connection methods needed to convert suppliers successfully.
The primary aim of any onboarding project is to get as many suppliers converted as possible. However most organisations have a supplier base that consists of large, medium and small companies, and all of these companies will use different finance systems and send varying invoice volumes.