The e-Invoice system streamlines invoice management by enabling bidders to raise inquiries and organizations to respond and issue notifications. It handles VAT compliance, allows invoice details to be downloaded as PDFs, and provides automation for organizations with high transaction volumes. Suppliers can create and manage invoices through a secure portal, entering essential details and tracking their status until payment is made. Notifications are sent at every stage, including reasons for rejection if applicable. The system also supports scenarios like advance payments and retentions, reducing cycle times, providing an audit trail, and enhancing communication between suppliers and organizations.
E-Invoice System Features and Advantages
Main Features
The e-Invoice system streamlines the invoice management process, offering secure and efficient tools for suppliers and organizations. When a purchase order is awarded, suppliers receive an email with a secure URL and credentials, enabling them to create and view invoices associated with the order. Suppliers can input essential details such as invoice date, cost, currency, and supplier invoice number. Once submitted, invoices are tracked through various stages until payment, with real-time notifications keeping suppliers informed. If an invoice is rejected, the system provides detailed reasons, allowing for revisions and resubmission.
The platform supports scenarios like advance payments and retentions, enhancing flexibility in financial arrangements. It facilitates seamless communication by allowing bidders to raise invoice-related inquiries, while organizations can respond and issue notifications as needed. With robust Value Added Tax (VAT) handling capabilities, it ensures compliance and simplifies tax calculations. The system also provides comprehensive reporting features, enabling invoice data to be downloaded in PDF format for record-keeping and analysis.
Designed for automation, transparency, and efficiency, the e-Invoice system is an essential solution for optimizing procurement and payment workflows.