Open ECX provides a supplier-friendly way to send and receive electronic invoices. It’s non-disruptive to your supply chain and simple to use which helps deliver high adoption rates. The cloud-based solution allows you to streamline invoice processing, reduce costs and go paper-free.
Even if you generate and email PDF invoices from your finance system it’s more than likely the receiving organisations will still have to print the invoice and manually enter it into their systems. Open ECX eInvoicing solves this problem by automatically reading the emails and converting the PDF documents into electronic invoices ready for processing into the finance system. Simple!
How it works
Why e-Invoicing with Open ECX?
- High adoption rates. Emailing PDF invoices is the preferred method to invoice for most suppliers.
- No footprint or technical change. Open ECX leverages technology (e.g. email, PDF) that the supplier already uses.
- 100% e-invoicing. The receiver has the opportunity to close the mailroom to paper invoices.
- Not just invoices. All business documents can be managed this way.
- e-Invoicing is low risk
- No minimum volumes or tie-ins, you simply pay for what you use
- No disruption to your supply chain, no technical change needed
- No timely or expensive set up
- No software footprint
The benefits for the receiver
- Reduced costs
- Increased visibility, transparency and controls
- Increased processing efficiency
- Increased ability to pay on time
- Increased opportunity for supplier discounts
- Reduced carbon footprint
The benefits for the sender
- Reduced costs
- Real time data delivery
- You get paid faster
- Increased visibility and control
- Reduced carbon footprint
- Enhanced Trading Relationship
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Frequently Asked Questions
Most e-trading initiatives ask the supplier to change their billing system in order to send an electronic file. They may even ask them to change their working practices by logging onto a web portal and manually creating an invoice.
Our approach is different. We believe that minimising the change required with your trading partner will maximise the benefits for both parties.
We also take a di erent approach to service delivery, a service hosted in the cloud. No software is installed on either side of the trading relationship. The benefits of this approach are passed on to our customers.
Not quite – but we do focus on providing e-document services across the purchase-to-pay function – from purchase orders to payment advice notes, and everything in-between. For those organisations that require an electronic archive of all invoices, we also provide ECX Cloud Workbench, an on-line invoice archive.
Any organisation that wants to send or receive e-invoices – and other electronic business documents – will benefit by using Open ECX. For receiving organisations Open ECX removes the barriers to supplier adoption. This ensures the greatest numbers of e-invoices – from the greatest number of suppliers – are received.
For sending organisations – whether following a request by a customer or driven by a desire to remove paper from the process – Open ECX provides the easiest way to move to e- billing, without the need to change systems or processes.
In very few cases the sender will not be able to create a text PDF. Where this is the case an invoice image (produced by the finance system or a scanner) is sent by the supplier and processed using our ECX Cloud Invoice: OCR service – which takes advantage of latest OCR technology to convert the invoice image into an e-invoice. Any exception generated from the OCR activity is presented to the receiver within ECX Cloud Workbench – an on-line invoice verification and archive solution – or uploaded into the customer’s own processing application.
Alternatively, if the sender is able to generate an electronic invoice direct from their billing system, Open ECX will receive, validate and convert the electronic invoice into a format required by the receiver.
E-invoice data is delivered either direct to the receiver or presented within ECX Cloud Workbench where it can be reviewed and downloaded.
Open ECX takes a fresh approach to e-invoicing. Our patent pending solution is unique – designed to take advantage of what you have rather than ask for change. Our charging options provide flexibility and ensure a strong business case – and by delivering our services in the Cloud allows us to pass on the inherent benefits to our customers.
Electronic trading is nothing new. So why do we still use postal addresses to send and receive important business documents? Open ECX provides organisations with an e-invoice address that everyone can use. Open ECX is the right way to e-invoice.