Retail Industry
Retail Industry

Remove the inefficiencies from your
invoicing processes to build
a profitable retail brand

Slider

Retail

 

Remove the inefficiencies from your invoicing processes to build a profitable retail brand

Change is the only constant in the retail industry. From technology, sales and marketing strategies, to supply chain and logistics, the industry continues to witness massive shifts across the value chain. To respond to these rapid changes, retailers are aiming for increased business agility, leveraging digital technologies.

 

Top focus areas

  • Delivering efficient, omnichannel customer experiences
  • Creating efficient, integrated and transparent supply chains
  • Expanding into new markets by providing digitized, interconnected products and services
  • Implementing enhanced procurement and distribution strategies
  • Using private-label sourcing to drive differentiation
  • Embracing hybrid business models to increase revenues

 

The role of automated spend management solutions grows in importance as retailers look to drive greater profits and revenues in a highly competitive environment.

Crossing the roadblocks in retail

 

Front-end innovation has always been the buzz word in the industry. However, retailers are now rigorously investing in back-end innovation to enable greater supply chain responsiveness to evolving consumer behaviors and trends. A key focus area in this context is automating ‘spend management processes’ to be able to implement successful sales and fulfillment strategies.

 

Unique invoicing and pricing situations

  • Complex invoicing environment amid a large number of buyers, vendors and partners
  • Need to adhere to country-specific VAT regulations, in case of multinational operations
  • Growing number of customized orders and flexible return policies, leading to more exceptions in invoicing and pricing
  • Pricing pressures that are compounded by rising commodity, labor, and energy costs

Key concerns

  • Retail
    Building a nimble supply chain through faster payments
  • Retail
    Simplifying and streamlining routine supply chain transactions
  • Retail
    Driving effective inventory optimization
  • Retail
    Reducing costs, while being responsive to the needs of tech-savvy, price-sensitive customers
  • Retail
    Gaining spend visibility to create more opportunities for cost savings and revenue generation

Improve your spend management by partnering with Invocus

 

At Invocus, we are focused on simplifying business for you and your suppliers. With our end-to-end and integrated e-Invoicing solution, you can accelerate your accounts payable cycle, and invest more time and resources into building a competitive and profitable retail brand.

 

By adopting a configurable, automated solution like Invocus, you can achieve increased productivity in your invoicing processes, and eventually see a significant impact on your bottom-line

 

E-Invoicing Advantages

 
  • Manage huge volumes of purchase orders, receipts and invoices
  • Create quick and accurate estimates and invoices based on real-time inventory data
  • Meet VAT audit and payment compliance requirements in a hassle-free manner
  • Gain granular visibility into spending at the store level
  • Improve hit ratio of vendor discounts
  • Leverage spend insights to negotiate better contracts and pricing discounts
  • Streamline exceptions handling

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

DYNAMIC DISCOUNTING

  • 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

See E-Invoicing In Action
 
Our Solution Consultants will show you the power of AP Automation, discuss use-cases, and help your business transform payables into strategic assets.