E-invoicing

With the tough economic climate continuing to put pressure on companies to increase efficiencies and cut costs, together with the introduction of European e-invoicing initiatives and regulation, e-invoicing has never been so important and many companies are re-evaluating their invoicing procedures.

Electronic invoicing or e-invoicing, as it is commonly known, is not a new concept. For many years people have recognised that paper based processes are costly and inefficient and the exchange of invoices in an electronic format has been the preferred choice for many. In a recent report, GS1 UK, the not-for-profit supply chain standards and solutions organization, in conjunction with Cranfield School of Management, found that EDI enables businesses to cut costs significantly, £8.50 per invoice, through the replacement of manual processes.

Despite such considerable cost saving opportunities, for many adopting an e-invoicing program has appeared to be a complex and daunting task and the easiest option has been to continue to rely on manual processes. This no longer needs to be the case with Wesupply’s OneTime solution. Through our outsourced, fully managed service, Wesupply removes the complexity from e-invoicing, allowing both customers and suppliers to benefit from the removal of paper from their accounting procedures.

Whether you are a customer or supplier, e-invoicing through Wesupply couldn’t be easier. Connect just once to the Wesupply network, using your preferred communication method and take advantage of the e-invoicing benefits outlined below, all for a fixed annual fee.

Wesupply has over ten years’ experience in e-invoicing and has the tools, processes and skilled staff to ensure the success of any B2B programme. Our secure, robust and flexible solutions are delivered in conjunction with IBM on a Managed Software as a Service (SaaS) basis, with an SLA of 99.9% proven uptime. As OneTime is delivered as a fully managed service, with consultancy, integration and trading partner on-boarding all form key elements, the hassle of e-invoicing is no longer your concern, allowing you to focus on your core business.

With our four scalable OneTime offerings – ranging from a simple web browser, connections to accounting and ERP solutions, to deep EDI integration through an electronic trading hub – companies of all sizes, regardless of their requirements, can benefit from e-invoicing.

OneTime enables our clients and their trading partners to have a single, unbiased view of their supply chain and the electronic messages exchanged, providing “one version of the truth”. Both parties are able to view the status of invoices, through daily reports which are sent to suppliers and in real-time through the OneTime browser. Clients can also set up alerts to notify them when invoices are received.

In addition to providing visibility of the order-to-invoice cycle, OneTime provides clients with key invoice matching functionality to manage invoice errors. Clients are able to automate the tricky process of matching each invoice line value to the purchase order price and each invoice quantity to the receipt quantity, which speeds up the approval process.

Many companies are concerned with the complexities of e-invoicing, particularly when trading across country borders. Our e-invoicing solutions assist companies in achieving compliance with country-specific e-invoicing and VAT requirements, whether it is through the application of a digital signature or the creation of tax compliant archive files.

E-invoicing is just one element of electronic trading and the first step to removing paper from the accounting process. However, OneTime enables companies to easily expand upon e-invoicing and transfer other documents electronically, such as purchase orders, remittance advices, credit notes and debit notes. Further information can be found here.