What is eInvoicing and ePayments?
We use the terms eInvoicing and ePayments to mean any solution that leverages Internet technology to automate invoice and payment related activities in a B2B environment. Additionally, the term “buyer” is meant to describe an organization acting as a payer, and the term “supplier” refers to a biller, payee or vendor.
The eInvoicing & ePayments solutions transform the procurement-to-settlement cycle by reducing paper induced friction within the process, effectively streamlining how organizations procure supplies, generate purchase orders and invoices, handle exceptions, dispute and approval of invoices, notify interested parties, report transactions, and offers payment and remittance options.
eInvoicing and ePayments solutions streamline the invoice receipt-to-pay and order-to-cash cycle by enabling organizations to electronically submit invoices and purchase orders, use sophisticated workflow tools for approval processing and make electronic settlement against approved invoices. Our solution offers both electronic invoicing (Accounts Receivable - AR) and payments automation (Accounts Payable - AP) in order to create an end-to-end eInvoicing and ePayments solution that integrates with enterprise and other legacy business applications (mainly accounting systems). Most businesses have their AR and AP operations separated, and the challenges within each of those areas are usually different – but most businesses struggle equally in both departments.
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Accounts Receivable - Electronic Invoices
- Paper Invoices
- Invoice Batches
- Receive Electronic Payments
- Electronic Archive
- Remind and Resend
- Notification and Receivables Forcasting
- Inter- and Intra- Company Communication
- Multi-user Access
- Discount Terms
- Shipment Tracking
- Invoice Pre-payment
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Accounts Payable - Receive Electronic Invoices
- Make Electronic Payments
- Send Purchase Orders
- Approval Workflow
- Multiple Signatures
- Multi-user Access
- Inter- and Intra-Company Communication
- Scheduled Payments
- Status Info Online
- Payables Forecasting
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Enliven EIPP Model
The Fidesic platform is not Buyer-centric or Supplier-centric – it is based on a Consolidator model whereby there is a Network, and every additional member to the Network improves the overall value of the Network to existing members. It also creates a Marketplace that could enhance business relations and vendor selection. Enliven's solution is based on the consolidator model, where Enliven, acts as a consolidator. We provide a network with a Web-based interface that allows many buyers and supplier to come to one location to transact with one another. The Fidesic platform acts as an intermediary, collecting invoices and facilitating payments from multiple buyers for multiple suppliers, eliminating the need for point-to-point connections. In addition to providing the connectivity that links buyers and suppliers, when a Supplier signs up to join the Fidesic network (electronic invoicing / receivables), they are provided a unique URL (e.g. MyCorp.fidesic.com) which is also branded for the company, where their buyers can log-in to view, pay or dispute invoices sent to them.
Fidesic’s consolidator model not only has all of the robust features of a buyer or supplier-centric solution, but also provides additional value through the shared supplier network; open to suppliers and buyers alike. Both may participate in the consolidator model, but neither controls it. Instead, buyers ask their suppliers to present invoices through Fidesic’s on-demand hosted solution, and suppliers ask their buyers to view and pay invoices through Fidesic (the consolidator).