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Yesterday, we posted a blog about the e-commerce catch-22 and shared the first step in increasing your ROI.  Today we'll share the second step.

 

Step 2: Replace Paper Billing with E-Invoicing

Once you’ve started to receive and manage your orders online, your next step should be to replace paper billing with some form of e-invoicing.

What will it give you?

  • Fewer errors through automated processing and elimination of manual re-entry
  • Faster settlement through:
    • Automated processes and approvals that cut weeks out of the order-to-cash cycle
    • Alerts about invoice problems at the point of submission, so you can instantly correct them and resubmit
  • Real-time visibility into invoice and payment status, so you know when you’ll get paid
  • Detailed remittance advice telling you what payments are for, streamlining reconciliation
  • Online access to early payment discounts, enhancing cash flow

How do you do it?

Ariba offers multiple e-invoicing options, from easy-to-use direct entry and PO-Flip to total invoice automation through integration. You can find basic definitions of each method—along with guidelines to help you choose the best one for your business—by reading this article on e-invoicing. To set up your e-invoicing preferences, go to the administration navigator tab in your Ariba Network account and click “Electronic Invoicing” under “Network Settings.” You can also read detailed information about e-invoicing under “Invoices, Payments and Remittances” in the “Product Documentation” tab of the Help section in your Ariba Network account.

 

In the Next Blog We'll Cover Step 3: Measure Your Results

If you don't want to wait until tomorrow to learn more, then go to the Supply Lines group to read the full article.