The lack of electronic invoice reconciliation in the procure-to-pay process can negatively impact e-procurement efforts and cause carrier relationships to suffer. Paper invoices and associated reconciliation processes are responsible for extended settlement cycles that can delay payments to your carrier, preventing you from capturing all possible discounts. Without an opportunity for real-time collaboration, your carrier won't learn about payment status until they receive a check in the mail.

The delays and uncertainties that surround the entire order-to-pay process contribute to an excessive number of calls from carriers into the A/P department, missed payment discount opportunities, lack of regulatory compliance, increased processing cycle times, and lack of complete visibility which affect the ability of procurement organizations to manage cash flow efficiently.

By shifting from paper to an electronic invoice process, organizations can reduce their financial settlement costs by more than 50%, while greatly enhancing visibility and control for regulatory compliance. With eShipGlobal Invoice Management solution, companies receive complete services for managing invoices electronically, thereby accelerating carrier payment to proactively capture early payment discount opportunities.

How it works

eShipGlobal Invoice Management is an integral part of the eShipGlobal Transportation Management suite. The solution helps companies gain complete visibility and traceability into the entire order-to-pay workflow process to improve negotiation leverage via prompt payment, prevent overcharging and duplicate payments, prevent regulatory backlash, and effectively manage cash flow.

Below is a table shows the cost of processing an invoice and how eShipGlobal solution helps to reduce processing cost.