Invoice Management

Procurement vendors - e purchasing - SRM software - strategic sourcing | Ivalua > Products > Buyer > Invoice management

Reduce overhead, risk of errors and disputes
Track the progress of supplier invoices closely
Control the invoicing/payment process with the aim of improving supplier relations

Electronic invoice processing responds to three important objectives: productivity gains, reduced paper usage, and streamlined purchasing and accounting processes.

Consequently, Ivalua Buyer’s Invoice Management module was designed to manage the entire invoice reconciliation process, enabling collaboration between buyers and accountants, and interfacing seamlessly with the ERP or the company’s accounting tools.

Data from previously processed invoices or recognized by an OCR/Scanning tool are imported along with the image files of scanned invoices; this data is then associated with order and receipts data directly within Ivalua Buyer, and ultimately supplemented by further reconciliation adjustments.

Finally, the tool provides detailed analyses of invoiced expenditures by budget, organization, supplier and commodity.

Main functionnalities

Benefits

Our advantages

Services

Deployment modes

Invoice capture

Rapid capture mode that takes advantage of the latest web 2.0 technologies
Pre-initialization based on supplier/contract/order/receiving data
Management of multiple sales tax systems and multiple currencies
Importing of scanned invoices and data extracted from invoices
Total or partial invoicing

Invoice processing

Multi-budget and accounting allocation
Configurable invoice approval workflow with price and quantity exception management
Configuration of blocking and non-blocking alerts for faster handling of discrepancies
Up-to-date delegation option
Monitoring of invoiced expenses by line of budget
Integration with accounting tools for bookkeeping entry and provisioning

The use of high performance invoice management tools that are integrated into the e-procurement chain greatly improves administrative load, cycle times and supplier relations:

Elimination of paper invoices
Time saved on invoice reconciliation (based on market average, 50 to 75% less time spent processing invoices)
Time saved on invoice approvals, with collaborative workflows
Reduction of errors and their resolution time
Faster reconciliation brings improved supplier relations and opportunities for early payment discount

Quick capture thanks to the automatic retrieval of predefined data
Native integration with the Ivalua Buyer e-procurement solution
Entirely configurable visual validation workflow
Alerts that allow better exception management
Connectors for major ERP/accounting tools
Integrated standard reporting functions (indicators and reports)

Ivalua’s teams and consulting partners provide the skills and expertise necessary for the successful deployment of Ivalua Buyer. We work hand in hand with our clients to ensure rapid and sustainable adoption by internal users and suppliers.

Design and configuration

Working with customer requirements, Ivalua’s functional experts operate in close collaboration with the client to configure the specific modules, approval workflows, alert systems, data import/processing/export procedures, as well as the interface with other tools and the indicators and reports parameters.

Data migration

Right from the start of production, it’s important to migrate historical data to Ivalua Buyer to maximize the analytical potential of the system. Ivalua’s powerful ETL tool (extract, transform, load), expedites migration to mass transfer historical data from existing sources (Excel, ERP, etc.).

Integration

With over a dozen different ERP/accounting systems already integrated, our pre-configured connectors provide multiple points of integration for all major ERP/accounting systems in the market with the availability of customization to fit any client’s specific requirements.

Training

In addition to the application documentation and existing help screens, Ivalua and its partners offer on-site training and e-learning courses adapted to each type of user group.

Digitization of invoices

Ivalua offers an optional supplier invoice digitization solution, including the following services:

Reception and archiving of paper invoices
Automatic digitization and reading
Treatment of exceptions by video encoding
Transfer of invoice data to Ivalua Buyer
Secure access invoice approval
Extraction/transfer to accounting tools

Acquisition

The software is licensed and installed locally by the client. The client’s IT service takes charge of the administration of the application. They can subscribe to the application maintenance and user support services provided by Ivalua as they see fit.

SaaS

Ivalua’s SaaS model includes the deployment, maintenance and the hosting of the software within a customer account through our hosting partner. This comprehensive service is offered over a contractually determined period for a monthly fee.

On Demand

On Demand deployments allow the client to subscribe to the same service as in SaaS, but over a much shorter time period and linked to a particular event: for example; RFQs, RFIs, or auctions. Therefore, pricing is established on an event-by-event basis and frequency of tool usage in order to manage these events.

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