Integrating EDI Invoices

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Integrating EDI Invoices
“Maintain a culture of respect.”
– Eric Schmidt, former CEO, Novell, Google

What role does electronic invoice integration plays in a payment process?

  • It helps to reduce business cost
  • Provides automation to invoicing process
  • Creates shorter business cycles
  • Enhances business compliance
  • Improve relationship between buyer/supplier

Want to know what else electronic invoice integration can achieve for you?

 

How electronic invoicing does help to boost billing process for an organization?

Invoicing integration helps an organization to transmit, receive and process digital transactional document between suppliers and buyers. It is overall known to be as the process of the EDI Billing consisted of a true invoicing method that is entirely electronic in such a manner that data from supplier system can be integrated straight into a buyer’s system. Invoicing integration helps an organization to maintain a seamless data exchange between buyers and suppliers. Some of the most crucial business benefits offered through invoice integration to businesses are:

Seamless payment system with improved cash flow

With electronic invoicing, the entire system gets to be automated for information passing from one stage to another stage of process like sorting, rout, re-key and most importantly submitting the invoices for approval. In a paper led manual process, there are chances of invoices being lost in between or having tying errors into them. An electronic invoicing system completely eliminates manual errors and improves cash flow as well at the business.

Better Account Reconciliation

With electronic invoicing it becomes easier for a supplier to have settlement of payment against the invoice. With the help of eCommerce integration a customer can send all the detail of the invoices paid in a single go.

Improved Costs

Invoice integration reduces business costs effectively for a business, otherwise, wasted over printing, storage, processing and delivery of paper invoices. With improved invoicing efficiency, the pressure over customer services also gets reduced, effectively.

Least Number of Rejected Invoices

Any error of a figure can lead to a complicated situation for an organization at the time of settlement of payment and results into invoice dispute and rejection that is costly and time consuming process. With an e-invoicing the chances of invoice dispute get rejected considerably.

Improved customer satisfaction

With invoice integration overall business process becomes faster and efficient thus resolving issues faster offer a higher level of customer service and satisfaction.

Increased productivity

With entire purchase data entered into the suppliers system, the EDI invoice integration eliminates the need for data manually to be entered into system and with lesser workload, the overall productivity of an organization increases several times.

Improved supplier relationship

A fast, efficient payment system further improves overall business relationship between buyer and supplier.

Carbon Footprint

Invoice integration apart from a digital process plays an important role in offering sustainable environment friendly business solution as it reduces the need for paper in use across different systems transferring important business data. It increases the carbon footprint as well as no paper is wasted while sharing the information.

 

How does electric invoicing takes place for a business?

EDI billing is quite similar to the paper transaction except for entire transaction is being carried out electronically. The steps for manual invoice and electronic invoice are mentioned below separately.

Manual Invoice
  • Acquire a printed purchase order
  • Ship the commodities requested and print an invoice
  • Invoice is sent to the customer via US Mail
  • Client receives the invoices
EDI Invoice
  • Customer sends an EDI 850 purchase order
  • 810 is Indicates EDI billing transaction includes info: Invoice number, Agreed upon payment terms, Shipping date of the items, Date of the invoice , Items or services rendered
  • EDI is Indicates 210 freight invoice
  • EDI software sends the EDI purchase order into ERP system instantaneously.
  • Ship the products and generate an invoice
  • EDI software takes the ERP invoice for creating faithful EDI billing transaction
  • The EDI invoice is directly sent to the customer.

EDI billing plays a crucial role in time savings. The entire purchase order to the EDI billing cycle can take place in specified moments.

 
How does EDI Solution integrate invoices?
The entire process of integration invoice with an EDI solutions system involves following steps and strategies.
Invoice Receiver
  • EDI arrangement gets the receipt gave by the merchant.
  • Receipt is submitted to the mapping procedure and a record is likewise made that is incorporated inside your ERP.
  • Information is then transmitted to the home network safely and a receipt is recorded in the administration system.
  • A programmed chronicle of the report in ERP is done and afterward approved with different archives.
  • When the approval methodology complete, the framework will signal the receipt and after which an affirmation message can be consequently sent to the provider’s EDI arrangement.
  • In addition to the invoices gave by sellers with an EDI integration, Invoice Receiver can likewise coordinate the bills sent by others.
Invoice Sender
  • When you make a receipt in your ERP, the EDI arrangement will take the information from the archives and afterward subject them to the mapping procedure.
  • EDI programming will recognize the receipt to the location and afterward the bill is naturally sent to the built up correspondence channels.
  • Receipt is received by the provider and afterward naturally incorporated into the correspondence framework.
  • The sender will get an instant alert and in the event that there exists any blunder, at that point cautions are sent to tell you.
  • If you have an EDI arrangement, at that point you may give your bills electronically and send them to different channels.
EDI Billing for your Business

Generally, all types of EDI software can execute EDI invoicing but it is important to choose the right software. As it can do EDI billing transactions promptly and smoothly. While choosing software for EDI invoices, investigate deeply about its features and choose the one that can make your billing process more accurate and accelerated. Ready to get started with EDI or want to know more about EDI billing, get in touch with us!

 
Want to get you order and invoice process to be integrated through EDI for efficiency!