Invoice and Credit Note Highlights
- Workflow-controlled: Automated, multi-hierarchal approval workflows control the process according to the requirements of the purchasing and the finance department. All invoices are transferred to the ERP system in the correct format and are subject to a 2- or 3-ways-check if required (match with order and/or goods receipt). The advantage is that all relevant data are already available in POOL4TOOL.
- EDI, WebEDI and OCR Scanning Connection:
Regardless of whether a supplier is connected via EDI or WebEDI or OCR scanning is used, POOL4TOOL supports different transfer methods, meaning that there is a single interface for purchasing. As an option, invoices can also be processed via email using MS Word or Excel format.
- Integration of an OCR scanning service company: If required, a third-party company for OCR scanning (Optical Character Recognition) can be integrated in the process. Once the invoice was scanned, the system matches the data with the order and/or the goods receipt and the account assignment. In this case, POOL4TOOL is your general contractor for the whole process.
- Self-Billing: Self-Billing will completely eliminate the creation of an invoice by the supplier. In this case, the buyer generates e.g. a monthly credit note based on the relevant transactions (orders) and can immediately place the money transfer order. Suppliers see an overview of the credit notes online and can easily check them.
- Short Processing Times:
Automated data transfer and processing in POOL4TOOL (e.g. UID number, payment and delivery specifications from SRM) reduce run processing times considerably. The suppliers receive invoices and advices of credit immediately, and can review them quickly.
- Request Additional Information:
If a supplier requires additional information from the purchaser (e.g. statistical commodity number) they can request these directly via POOL4TOOL. This closes process gaps and reduces the number of required steps by automating a large portion of the billing process.
- Full ERP Integration: Invoices which match the order are automatically transferred and booked into the ERP system. All other invoices are subject to an internal approval workflow before they are sent to the ERP system (batch or single booking). All data are transferred, including bar codes from OCR scans.
- Automated Process Monitoring:
As with the other processes in the SCM environment, (e.g. purchase orders, delivery schedules, VMI), POOL4TOOL supports comprehensive, automated process monitoring for invoice integration as well. Purchasers and suppliers also receive direct feedback in the case of incomplete data transfer etc. (Status IDocs).
- Optional POOL4TOOL as Intermediary:
To limit the amount of training required, and to keep existing processes used by employees in place, POOL4TOOL can act as an intermediary. For example, the finance department would work in the ERP system, as before (e.g. SAP), and POOL4TOOL would simply act as a transfer medium.
- Benefits also for Suppliers:
Suppliers can also benefit from a continuous electronic process. By integrating invoices into an online portal, all processes can be brought together in one central location. This is a particularly significant advantage if the suppliers are familiar with the environment of upstream processes (e.g. purchase order, advanced shipping notices) and already connected. Purchasing also has an overview of all important information at all times. Buyers can process, review and book invoices more quickly using POOL4TOOL, meaning that payments can be completed sooner.