Automated Accounts Payable and Accounts Receivable

The electronic invoice based on Electronic Data Interchange technology enable the automated management of accounting and administrative processes. It is fully possible to automate accounts payable and accounts recievable processes through an electronic invoicing solution fully integrated with your company’s ERP and 100% of your trading partners.

The management of invoices implies repetitive time-consuming tasks, use up a considerable volume of resources and are not strategic business processes.  Digitalization is changing these processes through the implementation of new and more efficient management systems.

What are Accounts Payable and Accounts Receivable Processes?

Both scenarios consist of fundamental tasks that ensure the financial equilibrium of the company.

Accounts Payable (AP) is the process of managing received invoices from suppliers, and includes checking they are correct, processing them and paying them.

Account Receivable (AR) is the management of the billing process. It is a fundamental part of the generation and issuance of invoices to private and public customers, and also implies the collection of the amount due on the invoice.

Thanks to EDI Technology the complete automation of both processes is possible directly from an integration with your ERP.

 A Solution that Encompasses the Entire Invoicing Cycle

EDICOM’s global e-invoicing platform simplifies the invoice emission and reception process in many different countries. It can manage both systems in a completely integrated manner.

The solution can integrate with any client’s ERP to exchange standardized messages between business partners. In the specific case of invoices, the module establishes connections with the internal system to integrate the issuance and reception of invoices. 

Accounts Receivable

Enables the automation of EDI messages through registries generated directly from the company’s ERP. When sending invoices to clients the solution transforms the published data structures into the required standards (EDIFACT, X12, PEPPOL, UBL. ODETTE, XML EDI), technical and legal specifications for each country, and uses digital signatures. Making EDICOM’s a one stop solution for compliance.

Accounts Payable

The invoicing platform receives invoices from suppliers and validates them according to the technical and legal specs in each country where the receiving country operates. Through advanced data transformation processes recieved electronic invoices are adapted to the data structure your ERP or management system can receive. The data is then integrated to the ERP so your accounts payable team can process the received invoice.

Connectivity Guaranteed

EDICOM’s global platform works with integrated EDI in SaaS mode and van connect with any ERP in the market and any management application that interacts with EDI between trading partners.

EDICOM offers its clients a secure connection through its Value Added Network (VAN) EDICOMnet. This service is used to transmit critical data between trading partners. The network’s key feature is its guaranteed global interoperability. Possible because of the many interconnection agreements with VANs all around the world. Working in this network instantly and securely simplifies the Exchange of structured messages between partners.

Electronic Invoicing Solutions outside of the integrated EDI Scenario

EDICOM offers different solutions to manage the automation of accounts payable including solutions for suppliers who do not have EDI technology.

The supplier portal (EDI web portal) is an invoice reception platform. It is a web EDI solution integrated with your company’s ERP system made to automatically send purchase orders to your suppliers and receive electronic invoices.

EDI web portal identifies suppliers who do not have an EDI solution and automatically publishes purchase orders in the portal. Then, it informs the supplier that new orders are available in the portal via email. The system includes purchase order status traceability enabling a consistent monitoring of PO statuses.

The Supplier can automatically generate an invoice from the received PO through the web portal. This new invoice is created from the data in the original order received, simplifying its issuance and matching with the original PO when integrated to the company’s ERP or accounts payable system.

With EDICOM’s solution it is possible to fully automate your purchasing process and integrate the entire commercial transaction process with 100% of your trading partners.

 Advantages of Accounts Payable Automation

• The delivery of orders is generated in real time, reducing response times from suppliers.
• Automation of purchasing management from the purchase orders to supplier payment.
• Personalized flows thanks to the scalability of the solution enabling clients to implement new messages like order reception confirmations or shipping notices.
• Control and traceability of deliveries and the status of orders for your suppliers.
• Better management and cost savings. Thanks to automation it is possible to reduce processing times and errors saving time and money and making the purchasing process more efficient.
• Integration of suppliers. The supplier portal enables the integration of all suppliers even if they do not have EDI solutions.