Want to be nimble in a competitive business landscape?
Time to embrace e-Invoicing
The business services industry is highly fragmented, characterized by a wide variety of business models and services including staffing, shipping, direct mail, market research, accountancy and management services, and printing.
Key focus areas
- Building new business models based on robust collaboration to be able to deliver complex services plugging skill gaps, and increasing productivity by harnessing new technologies and innovations
- Investing in resource planning and customer experience management tools to manage growing demands, and meet contract requirements and SLAs broadening the repertoire of services and delivering increased value, in order to survive competition from increasingly affordable cloud applications
Consolidation is the predominant trend in the slow-growth industry, as service-oriented businesses bank on mergers and acquisitions (M&A) to create value and achieve greater synergies.
As business services companies look to manage pricing and margin pressures, they can bank on robust accounts payable and spend management solutions to gain greater control over their financial health.
Key challenges in business services
Business services companies that are yet to embrace new age automation face a number of challenges in managing their accounts payable and invoicing processes. In the absence of well-integrated technology solutions, they often fail to ensure ease of transaction, thus leaving behind dissatisfied customers.
Further, manual, paper intensive processes can cause a significant drag on their profitability.
Onboarding a large number of trading partners and customers
Responding effectively and quickly to customer requests
Maintaining multiple, disparate channels to connect with varied customers
Ensuring accurate reporting
Maintaining a comprehensive repository of documents and transactional information
Overcome invoicing obstacles with Invocus
At Invocus, we understand the pulse of the business services industry. Our end-to-end e-invoicing solution suite, equipped with predefined workflows and analytics, enables you to build an efficient and lean AP organization, driven by automated processes and industry best practices. Our user-friendly solution can be easily integrated with your other service management tools, and helps streamline invoice creation and payment processes.
By automating the order to cash cycle, services companies can simplify the way they do business with a large pool of customers
What we help you achieve
- Straight-through processing
- Real time visibility into financial and transactional information
- Reduced operating costs
- Increased customer satisfaction
- Effective adherence to contract and compliance requirements
BENEFITS OF INVOCUS PORTAL BASED TOUCHLESS E-INVOICING SUITE
SUPPLIER INFORMATION MANAGEMENT
- Compliant onboarding via supplier portal for self-registration
- Effective data management via centralized repository, hassle-free document tracking, and audit trail management
- Supplier risk management through data enrichment, risk alerts and risk scores
SUPPLIER SELF-SERVICE E-INVOICING
- Easy payment tracking along with status updates, and configurable alerts on pending requests
- Any format invoicing, with ICR to extract invoices from images
- Early payment discounts with automatic calculation of discount due dates and amount
TOUCHLESS INVOICE PROCESSING
- Automated 2-way and 3-way matching, along with easy exception handling
- Customizable and condition-based approval workflows
- Downloadable pre-canned reports, with easyconversion to charts and graphs
- Customization of your dynamic discounting program based on savings targets
- Easy collaboration with suppliers on program roll-out, payment dates and discount values
- Centralized tracking of program savings and supplier acceptance