The Invoice Management Module provides all the facilities needed to generate fully tax compliant invoices and credit notes. Invoice 'flip' capabilities ensure that data from a PO, PO Confirmation and/or ASN are accurately transferred to the Invoice, thereby significantly increasing the customer's right-first-time invoices.
Coupled with comprehensive two- and three-way matching capabilities, plus PO/Invoice value tracking, beX can act as the complete invoice management and validation tool for those customer's who lack such sophistication in their own back-office systems whilst providing additional support and validation functions for customers with existing invoice workflow systems.
For the purposes of compliance with the requirements of the EU Invoicing Directive (EC/2001/115), beX operates as an 'EDI System' where 'origin and authenticity' of the invoice is guaranteed by the beX system procedures underpinned by EDI Agreements concluded between Buyer and Suppliers. To meet the additional requirements of many European Jurisdictions for EDI compliance, beX is able to produce the necessary Summary Invoice Reports (for use in, for example, France and Germany) as well as other reports such as the File of Partners report required by the French authorities.
In conjunction with our partners, beX is also able to provide full local digital signing capabilities if the Buyer's internal compliance operations require it.
Suppliers can track the changing status of invoices through the Buyer's systems via the beX web interface which feeds back information (including expected payment details) to the issuing supplier so that they are able to more effectively manage their cash forecasting.
The status information from the Buyer can either be handled via XML messaging or, manually, via the beX web interface.
Buyers that sign up to the beX Supply Chain Financing initiative can provide valuable benefits for their own cash-management and treasury operations as well as enhancing their supplier's financial stability.
According to a recent Aberdeen Group report: "Supply Chain Finance leaders are creating a lower cost and more financially stable end-to-end supply chain, resulting in a strategic advantage for the company. For instance, one retailer has reduced its unit costs by 5-10% this year through the use of Supply Chain Finance, while simultaneously improving its suppliers' margins and their responsiveness."