Benefits

Administration

• Reduce the time and cost required to produce documents
• Reduce errors and re-work through the use of inherited data
• Reducte post, telecommunications and courier costs

Accounts payable processing

• Eliminate the need to re-key commercial invoice data and to manage the associated errors
• Facilitate automated reconciliation of purchase orders against commercial invoices
• Enable a seamless link to electronic payment facilities

Accounts receivable processing

• Eliminate the need to manually reconcile credit/payment advices with commercial invoices
• Allow focus on exception processing to reduce the need for dispute management

Working capital

• Remove the processing barrier to taking advantage of discount terms
• Enable optimal working capital finance by streamlining the receivables process
• Reduce the requirement for working capital by improving visibility of outstanding payables and receivables

Cash flow

• Remove unnecessary float that exists because of paper-based processes
• Accelerate cash cycle for the supplier against optimal payment terms for the buyer

Payment processing

• Create opportunities for managed payment processing services based upon integration with the accounts receivable process
• Reduce the cost of payment processing by supporting the emergence of new payment services

Documentary settlement processes

• Reduce the risk and cost of discrepancies with improved data quality
• Enable banks to improve the document checking turnaround time by automating the reconciliation process
• Improve the competitiveness of letters of credit by increasing efficiency

Resource utilisation

• Remove the knock-on effects that the burden of paper documents can have on capital-intensive resources
• Ensure seamless movement of goods without the threat of delays associated with documentation

Contingent liabilities

• Reduce the requirements for indemnities when paper documents are misplaced or delayed
• Reduce the risk of improper release of cargo or documents by carriers and banks

Risk management

• Enable greater visibility of goods movements and cash requirements
• Reduce the opportunities for fraud by improving document security
• Support compliance with new regulatory requirements, including those designed to reduce the threat of terrorism

Customer service

• Enable logistics providers to improve customer service by supporting rapid creation and release of documentation
• Enable the financial community to define new payables, receivables and working capital solutions based upon the management of electronic information