Eliminate DSD invoice paper- eliminate processing errors- and improve your profits !!
What is Platinum eVoice?
Platinum eVoice is web portal system that allows vendors and grocers to cut costs and save money submitting DSD invoices electronically. Our system converts DSD invoices to a standard format; automating the costly mundane daily tasks of manually reconciling invoices. You eliminate errors, streamline payment flow, eliminate the paper invoice, reduce total process costs, improve cash flow for vendor and grocer- you stop wasting time and money by automating this process. The payback begins immediately.
“How it works”
Purchase Orders(PO) and Deal sheets(DS) are entered into your system - (either by hand, via web portal, or received via XML interface electronically via internet)
If a PO/DS is created an Invoice will be created automatically or manually by the vendor and these Invoices are entered - (either by hand, via web portal, or received via XML interface electronically via internet or automatically generated from PO/DS) into the system.
Once the invoice is submitted, the system automatically compares the PO/DS quantity and price to invoice and grocer price Database and makes a payment determination.
If the price/quantity match, the invoice is directed electronically into the accounting system to be paid by the AP specialist. If the invoice doesn't match the PO/DS, or the price DB, the invoice is routed back to the vendor with reasons it was rejected allowing the vendor to correct and resubmit the invoice.
If there is a dispute, the vendor and buyer can discuss via phone or email. The buyer or vendor can edit the invoice and resubmit it for a compare and then the payment workflow continues. This puts the corrected invoice information in front of the AP specialist.
If the price on the PO/DS is correct and the price DB is incorrect, the system will automatically update the price DB when sending the invoice for payment.
The workflow and rules are customized per grocer and vendor based on their specifics… above is a rough example of workflow.
Price variances can also be used in the compare process (supplied by grocer). This is a dynamic system which you ultimately control.
Contact us and we will show you how to significantly reduce your invoice processing costs.