The easiest way to send and
Open ECX provides a supplier-friendly way to send and receive electronic invoices. Non-disruptive to your supply chain and simple to use – Open ECX guarantees high adoption rates. As most finance applications can automatically generate and email PDF invoices, suppliers are finding this approach an easy-to-use and low-cost way to automate, reduce costs and go paper-free. However, most receiving organisations still have to print the invoice in order to process it. Open ECX solves this problem for you. Invoices that are received via email are automatically converted into e-invoices, ready for processing.
How it works
- Supplier sends a text PDF invoice to a buyer-specific email address
- Our Cloud Invoice service detaches the invoice from the email and extracts all data from the PDF
- Invoice-interpretation rules ‘make sense’ of the extracted data and convert the data into an e-invoice structure
- Document and customer validation rules are applied and missing data can be derived (e.g. tax code, supplier ID)
- The validated e-invoice data is delivered to the recipient (customer)
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
High Supplier Adoption
Experience has highlighted that when an organisation is asked “Can you send an electronic invoice data file directly from your billing system?”, or “Can you log onto a portal and manually create your invoice?”, the answer is typically a resounding “No”.
However, when asked “Can you send your invoice as a PDF via email?”, the answer is typically “Yes, I thought you would never ask!” Senders appreciate the time, effort and cost savings this approach brings.
Almost all senders can create and send text PDF invoices straight from their billing system – allowing ECX Cloud Invoice to convert each PDF into an e-invoice.
The few systems that do not have this functionality can either use a ‘virtual printer’ to create a text PDF (there are a number of free virtual printers available on the internet), or send an electronic invoice file direct from their finance system, or use ECX Cloud Invoice: OCR to process an invoice image file usually produced by a scanning function. A managed service is also available to scan and capture data from any paper invoices that remain in the business.
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
EDI-like submission suitable for limited number of high-volume suppliers.
Open ECX provides medium-volume suppliers with an e-invoice solution that is easy to use and set up. A segment that is challenging to most service providers, but ideal for Open ECX.
Low-volume suppliers typically represent only 20% of overall invoice volume.
Complete our form and one of our industry expert consultants will get in touch.
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.