PayablesNexus

Business Challenge:
Even though our big vendors submit invoices using EDI, most of our smaller vendors still send paper invoices. Every month, we swim in an endless sea of paperwork. A good number of our vendors are computer savvy and have expressed interest in submitting invoices electronically. We simply don't have the internal resources or the time to figure it out.
 
Nexus Systems Solution:
The PayablesNexus system gives this retailer an easy way to entice smaller vendors to get online. Using the PayablesNexus Vendor Portal, vendors have access to not only submit invoices electronically but also to check the status of invoices that have been submitted, giving them real time payment status. The workflow process is as follows: the retailer's vendor uses the online vendor portal to upload invoices to the retailer's PayablesNexus system in the form of an Excel spreadsheet, CSV file format or EDI file. The PayablesNexus system automatically routes the invoices for approval according to the retailer's workflow rules. Once the invoices are reviewed and approved, they are routed to the retailer's GL system for payment.

Benefits:
This PayablesNexus solution enables this retailer to successfully:

• Convert a significant number of vendors to submit electronic invoices, resulting in fewer errors and faster invoice payment
• Show vendors the status of all invoices in the payment cycle
• Electronically route invoices for faster approval
• Resolve payment disputes in minutes instead of weeks
• Reduce dual data entry and the resulting data entry errors