Accounts payable staff can spend up to 30 per cent of their time responding to supplier calls regarding the status of invoices, according to research by document process automation solution provider Esker. With an average invoice status inquiry taking five minutes, such disruptions can significantly impact productivity.
Esker is now looking to address this issue with the launch of a new supplier self-service portal to complement its Accounts Payable solution.
By providing suppliers with real-time status information on their invoices and a single view of data, the portal improves the way organisations interact and collaborate with their suppliers, strengthening these relationships, improving buyer productivity and enhancing supply chain performance.
The use of electronic exchange also lowers transaction costs, by reducing supplier enquiries about the status of invoices, and providing better visibility into when invoices will be paid, enabling improved capital management.
Suppliers can also submit invoices directly to the portal, accelerating the payment cycle and enabling buyers to benefit from early payment discounts. The portal also enables both parties to exchange information and chat directly, saving conversations for future reference.
“Our new supplier portal reinforces our commitment to building a network of business collaboration, enabling meaningful connections between organsiations, suppliers and customers,” said Jean-Michel Berard, CEO, Esker. “Our goal is to connect companies with each other so they can do business more efficiently. Our new portal, combined with our solution dashboards, delivers the perfect platform to enable effective and intelligent interactions.”
