Supplier Needs
Many suppliers tell us that cash flow and managing the cost of sales are the key concerns in a predominantly paper based financial trade cycle. Increased pressure to reduce Days Sales Outstanding (DSO) can harm relations with customers and the cost of lending has increased significantly. In order to reduce DSO, many suppliers feel they need to increase headcount in the AR department, to better manage their invoices to ensure prompt payment. Is there another way to manage these issues?
Frequently Asked Questions
What is the Bottomline Business eXchange?
Why join the Bottomline Business eXchange network?
What invoice submission options does the Bottomline Business
eXchange offer?
What integration is needed?
How will I be aware that an event has occurred in the eXchange?
What is the Bottomline Business eXchange?
The Bottomline Business eXchange is a central on-line hub, which acts as a link between buyers, suppliers and financiers in a secure online environment. Providing online transmission and tracking of invoices, PO’s and settlement information, the Bottomline Business eXchange increases the collaboration and visibility between trade partners.
Why join the Bottomline Business eXchange network?
Bottomline Technologies is a global organisation with comprehensive experience in Invoice to Pay automation. We are very proud to have formed strategic relationships with a global client base of organisations across many industries and of varying sizes.
The Network provides the following;
Invoice Status Visibility – Have they received the invoice? At what stage of the process is the invoice? The status of the invoices can be tracked online, at a time convenient to you through the exchange. Remittance advice information can also be posted.
Dispute Resolution – Discussion threads can be created regarding a specific invoice and you will be aware much earlier in the cycle if there is a problem. This will help ensure a timely payment
Increased Efficiency – As invoicing is electronic, the Bottomline Business eXchange removes a lot of the labour intensive manual processes required with paper. By helping your buyer process your invoice in a shorter time period, this will also help ensure timely payments.
Cheaper Cost Of Capital – The cost of short term finance deals through Supply Chain Finance is cheaper than traditional factoring. This is because financiers have more information, provided by the exchange on which to base their decision and therefore lend at a reduced risk.
Early Payment - To ease cash flow when necessary, you can offer discounts for early settlement of invoices.
No Subscription, or Transaction Fees – As a supplier, you do not pay any transaction fees, or subscription fees as our pricing model is buyer centric.
What invoice submission options does the Bottomline Business eXchange offer?
The exchange is designed for all sizes of supplier and therefore accommodates different methods of invoice submission.
Manual Data Entry (MDE) – MDE allows you to fill in an on-line invoice template within the portal.
PO Flip – PO’s which are received by you via the Bottomline Business eXchange can be “flipped” into invoices with the exchange
Batch Upload – For suppliers who submit significant volumes of invoices, these can be uploaded directly into the Bottomline Business eXchange
Paper - Forming part of Bottomline Technologies comprehensive AP automation offering, our Invoice Data Capture Service (IDCS) takes incoming invoices and converts them into electronic invoice data, which can then be uploaded into the Bottomline Business eXchange. It is possible that your buyer is already using this service. Alternatively, electronic invoice data converted in-house can also be uploaded into the exchange.
What integration is needed?
This depends upon the amount of invoice traffic between yourselves and the buying organisation. No integration is required, if you simply require to track the status of your invoices and submit invoices through MDE. To take advantage of the other benefits on offer, your files will need to be mapped to our XML format. We will provide you with the file formats required and you can either map the files yourselves, or engage our experienced professional services team for a fee.
How will I be aware that an event has occurred in the eXchange?
As you are enrolled on the Bottomline Business eXchange, you can subscribe free of charge to specific event notification via email. For example, if your buyer opens a discussion thread regarding an invoice dispute. There are a range of event notifications you can receive, so you can keep updated even when you are not logged into the exchange.
