Supplier Invoice and Payment Management System

We know we're stating the obvious here but...

After distributing all of your work orders to your network of contractors, getting paid once they've completed the work is of utmost importance. To preserve good relations, Eaco's Supplier Invoice and Payment Management System is designed to take the hassle out of managing all of their invoices and payments.

Key Challenges

Some of the key challenges associated with managing the invoices and payments related to independent contractors include:

• A broad variety of formats (html, pdf and even print) that the individual contractors use for the creation of their invoices.
• The sporadic timing of supplier invoices, making it difficult to close off an accounting period with certainty that you've received all relevant invoices.
• The broad variety of work descriptions on each supplier invoice, making it difficult to relate it back to specific work orders.
• The difficulty in verifying whether the pricing is within the agreed schedule of rates.
• Inputting the data into your organisation's accounting system.

All of these challenges are exacerbated in environments where there is a large number of jobs being distributed amongst a large number of contractors. In relation to the Roadside Assistance Solution that Eaco created, there was over five hundred individual invoices per day from contractors that needed to be processed.

Solution

To meet these challenges the Eaco System was configured to:

• Create a Template for a standard Schedule of Rates for all contractors within an organisation's supplier network.
• Enable creation of customised Schedule of Rates for specific contractors within the supplier network that have agreed to alternative rates.
• Automatically track the details of the works undertaken (type of work, travel distance, work duration, completion certificate, status, etc).
• Create invoices, automatically, on behalf of the suppliers to provide them to the organisation that hired them.
• Automatically flag supplier invoices that are outside of the parameters of pre-determined (agreed upon) rates.
• Organise a supplier's invoices and list them for approval.
• Facilitate the importing of approved supplier invoices into accounting systems.

As an added benefit, the solution provided by the Eaco System also enables the automated creation of on-sell invoices. Meaning, that once an invoice is received from a supplier, the system automatically creates an invoice with your extra charges, which you can then send on to your client.

Elements of the Eaco System Used

The majority of the functionality used in this solution came from the Eaco Control Centre. In particular, configurations and features such as:

• Finance Management Module
• Schedule of Rates
• Invoice Schemas
• Invoice Transformations

The Control Centre also includes a dedicated  Supplier Portal, which for purposes of this solution, granted Suppliers with easy access to their Schedule of Rates, Job and Invoices. The use of this portal in conjunction with the Eaco FieldWorker App to track and monitor work on the frontline, demonstrated the value of adopting the Eaco System to meet the onerous challenges that attach to management of supplier invoices and payments.

#easypayment