E-invoicing and goods not for resale (GNFR): A recipe for success

Retailers are forever looking for ways to cut costs. Typically, it’s operations and supply chain that are targeted to improve efficiency and reduce costs. Retailers often adopt electronic data interchange (EDI) to automate the procure-to-pay process. But another, often overlooked area where processes can be optimised is also in procurement; it’s goods not for resale, [...]

OCR vs E-invoicing

Some of the challenges that finance teams, particularly accounts payable teams, can often face include: too many manual processes data entry errors high costs from labour, printing and archiving paying fraudulent or misleading invoices. Two of the most common approaches to overcoming these issues are optical character recognition (OCR) readers and e-invoicing. So what should [...]

What EDI messages are best to achieve my business objectives?

There are a few things businesses need to think about when implementing EDI. One of the key ones is your business objectives – why you’ve chosen to use EDI in the first place. This will dictate how you go about your planning and implementation. Your business objectives will also determine what messages you exchange with [...]

The state of e-invoicing in AUS and NZ

E-invoicing has taken off in countries around the world. Here in Australia and New Zealand, e-invoicing is still in its infancy, but steadily gaining momentum. What is e-invoicing? E-invoicing enables organisations to send and receive invoices electronically, directly to and from their software. It removes the need for unnecessary data entry and inaccurate OCR scanning. [...]

Getting EDI ready for peak season

Peak times can be chaotic for retailers. Christmas alone can account for almost 15% of all eCommerce transactions in a year. In 2019, sales during the Christmas period in Australia were forecasted to reach $52.7 billion. Managing an inefficient supply chain can be overwhelming at this time. Some of the main issues that businesses face [...]

Why finance needs to become friends with technology

Finance teams constantly find themselves battling things like: a need to reduce costs greater workload with the same amount of staff manual processes, which often lead to errors and disparate sources of data, making it hard to find information when they need it. The good news is that technology can improve these issues. And that’s [...]

When is the right time to implement e-invoicing?

E-invoicing lets companies exchange invoices electronically, directly to and from their software. It removes the need for unnecessary data entry and inaccurate OCR scanning. Businesses are increasingly adopting e-invoicing to: reduce costs involved in processing invoices process invoices faster make faster payments reduce data entry errors move to a more secure way of exchanging invoices. [...]

How to onboard suppliers to EDI: The key to maximising ROI

In tough times, like now for a lot of businesses, we scramble to find cost savings. We search for the lowest hanging fruit. Easy wins. The things that’ll give us the best bang for our buck. One thing to look at is automating your procure to pay processes. This is where electronic data interchange (EDI) [...]

3 reports retailers need

A real benefit that’s often forgotten when it comes to electronic data interchange (EDI) is improved reporting. We all know that EDI reduces the amount of data entry errors, but not as many people leverage that data for reporting. EDI allows you to get accurate insights to make informed, data-driven business decisions. From tracking the [...]

Two-, three- and four-way matching: Made easier with EDI

Paying invoices can be a time-consuming task, especially for retailers who pay tens of thousands of invoices a month. Before payments are made, they need to check the goods have been received and the price and quantities on the invoice are accurate. The last thing they want is to be paying for things they shouldn’t [...]

The benefits of e-invoicing for businesses: An infographic

E-invoicing automates the exchange of invoices directly between businesses’ software and its use is growing across the globe as a result of the benefits it brings. Australia and New Zealand have joined forces to to make trans-tasman e-invoicing easier using the internationally-adopted Peppol e-invoicing framework. Any business within this network can now send and receive [...]