Overview
Invoice Harbor Electronic
Transaction Exchange (ETX) is a proven and widely
accepted online collaborative buyer / supplier transaction
solution that automates, consolidates, and streamlines
the complete procure to pay lifecycle. With more
than 250,000 registered participants and an enrollment
process that takes minutes, Invoice Harbor ETX offers
a proven, secure solution with broad acceptance and
rapid trading partner adoption.
Invoice Harbor
ETX provides a single online environment for
buyers and suppliers to present and receive purchase
orders and invoices, verify, match, dispute,
reconcile, schedule, pay, accept, process and
track all transaction details electronically.
With
Invoice Harbor ETX Suppliers Can:
- Electronically receive POs
from their buyers
- Generate
and deliver invoices electronically to their
buyers either by online entry, export from their
existing software solution or automatically generated
invoices from data found on the PO (PO flip)
-
Receive real-time feedback on submitted invoices
against buyers rules
- Track buyer
invoice authorization online
- Receive rapid
electronic notification of disputes and resolve
them with online tools that allow collaborative adjustment
at the line item and/or summary level
- Automatically
accept and process payments from buyers electronically
for faster collection and significant reduction
in processing costs and cash application time
- Track and
project online receivables by multiple criteria
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With
Invoice Harbor ETX Buyers Can:
- Deliver POs
electronically to suppliers, either by entering purchase
order data online, or exporting the details from
existing software solutions
- Receive electronic
PO receipt notification from suppliers automatically
- Receive invoices
from suppliers electronically and import them to
their existing AP/ERP solution suites
- Automatically
validate incoming invoices against purchase orders
and pre-defined buyer-established acceptance criteria
before accepting them
- Provide immediate
and direct feedback to suppliers on rejected invoices,
resulting in faster correction
- Match and route
received invoices through pre-defined rules-based
authorization workflows for faster payment authorization
within the defined approval processes
- Dispute invoices
at the line item and/or summary level and facilitate
rapid resolution with online self-service supplier
dispute management tools
- Remit payment
electronically through the buyer's preferred merchant
bank and by the preferred payment method
- Track status
of all invoices and POs across all suppliers
or by single supplier with multiple criteria: received
date, due date, amount due, discount amount and
authorization
- Manually or automatically
schedule payments by buyer-defined rules
- Provide suppliers
with real-time, self-service invoice, payment authorization
and remittance tracking to significantly reduce or
eliminate costly supplier inquiry calls
- Track and view
all action taken on POs and invoices by buyer
organization or supplier
- Track summary
payment volume across all online AP activities or
by supplier
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