EIPP / Electronic Invoice Presentment and Payment by CTP

Posted in: Optimization

EIPP from CTP slashes administrative overhead by reducing the cost of creating and delivering invoices and statements without adding expensive and complex software or hardware. Line-item commenting significantly reduces the time and difficulty involved with disputed Invoices, ensuring faster payment. Invoices paid electronically also reduces Days-Sales-Outstanding (DSO) and related financial expenses.

EIPP offers these powerful features:

  • Includes all the EBPP features
  • Groups and delivers electronic replicas of paper invoices as single email attachments.
  • Enables payment of multiple invoices with a single transaction with a broad variety of options.
  • Gives your customers the ability to interactively question specific items from the online invoice with line-item commenting, eliminating the potential for error associated with email and phone messages.
  • Allows a centralized payment department to have visibility into all their branches and subsidiaries to pay many invoices with one payment.
  • Sends additional reminders via mobile phone text messaging (SMS).

Send E-invoices

Present and manage all your invoices and other receivables documents online for a faster, greener and more cost-effective invoicing software process.

EIPP automates your entire accounts receivable process from capturing ePurchase orders and issuing e-invoices to controlling debtors and collecting payments online.

EIPP is fully VAT compliant and integrates easily with your existing ERP or invoicing software systems to deliver a paperless and efficient online invoicing process. In addition to eliminating all the labor, material and posting costs associated with paper invoicing, the benefits for suppliers include error reduction, quicker settlement and improved visibility. Customers can enjoy faster invoice delivery; invoice data downloads into any finance system and offers faster dispute resolution. They can also benefit from early payment terms and an overall improvement in customer service.

Leverage our Technology

Put the power of CTP to work for you and reap the benefits of secure customer enrollment, instant data availability, payment capabilities for customers and customer service agents, interactive communications, extensive reporting mechanisms and exact transaction histories.

EBPP & EIPP benefits:

  • Accelerate cash flow – Electronic customer payments are faster than mail, significantly reducing DSO.
  • Reduce invoicing costs – Sending invoices electronically reduces printing and postage costs associated with mailing statements.
  • Reduce Payment Processing Costs – Payments made with our Online Billing Service – EBPP & EIPP can be applied automatically to your billing system, reducing the time and potential for error associated with manual posting.
  • Contain customer service costs – Easy-to-use online communications tools are available to both staff and customers, eliminating telephone tag and delayed payments often associated with disputed invoices.
  • Improve customer satisfaction – As business becomes increasingly competitive, your ability to respond more quickly and efficiently will enhance customer service and satisfaction, which are key differentiators for success.

Functionality Benefits:

  • Easy Integration No additional hardware or software is required for our Online Billing Service – EBPP & EIPP, and customers have no need to become familiar with new document formats.
  • A Total Invoicing Solution Online Billing Service – EBPP & EIPP includes the functions of eArchive Document Storage, eDelivery Courier and eLockbox Payments to form a complete Online Billing service.
  • Flexible Payment Options Customers can pay via automatic debit or credit card using multiple bank accounts to match their accounting requirements. Multiple invoices can be paid with a single payment transaction (EIPP Only).
  • Supplier Self-Service Support Online Billing Service – EBPP& EIPP enables customers to view their bills at your payment website, review what payments you have received and have been applied, and ask billing questions online.
  • Online Document Access While standard online storage is one year, bills can also be maintained online indefinitely for an additional fee and can be quickly accessed by indexes you select during implementation.
  • Dispute Management (EIPP) This is an optional feature customers can use to initiate disputes directly from electronic invoices. It enables them to document potential errors and establishes an email link to communicate resolutions.

EIPP works seamlessly alongside your existing invoicing systems and can be used standalone. Use EIPP service for automating complex billing processes that require additional workflow functionality.

Key Features of EIPP:

  • Send eInvoices from existing systems and present online
  • Receive ePurchase orders and other AR documents
  • Real-time one view of all documents & transactions
  • Document presentment & download in multiple formats
  • Full document history and archiving with detailed search
  • Online query management
  • Automated debtor control
  • Workflow map onto internal processes e.g. approval, permissions
  • Bespoke reporting e.g. document status, exception handling
  • Multilingual, multicurrency
  • Non-technical billing software with little training required
  • Easy to use web screens with corporate branding throughout

Integrated Payments

The full value of online invoicing lies in completing the transaction end-to-end which includes payment and reconciliation. Enabling your customers to make an invoice payment in real-time online drastically speeds up the settlement process and helps to improve cash flow.

Fast Customer Enrolment with 100% Coverage

More and more customers are demanding online invoicing from their suppliers. With CTP you can rest assured that your customer enrollment process will be simple and expedient. We understand that service adoption is critical to the success of your online invoicing project and we will help you every step of the way. The CTP Team will be on hand to assist you throughout the enrollment process with help and advice.

Receive E-invoices

CTP automates your AP process and delivers supplier invoice data directly into your financial systems, an ideal service for automating complex billing processes that require additional workflow functionality. Make it easy for suppliers to send you eInvoices and manage your payables process online to reduce manual input, eliminate errors and drive down costs with AP automation solutions.

Key Features of CTP AP Module:

  • Send ePurchase orders from existing systems and present online
  • Online purchase order ‘flip to invoice’ option for suppliers
  • Receive supplier eInvoices and other AP documents in any format
  • Import eInvoice data into your existing systems
  • Real-time one view of all documents & transactions
  • Full document history and archiving with detailed search
  • Online query management
  • Workflow map onto internal processes e.g. approval, permissions
  • Bespoke reporting e.g. document status, exception handling
  • Multilingual, multicurrency
  • Non-technical with little training required
  • Easy to use web screens with corporate branding throughout

Outsource Your AP Paper Invoice Processing

If you want to make the immediate switch from paper to electronic in one day, then our Paper To Data invoice scanning service is for you. With Paper to Data, we receive and scan all your inbound paper invoices and output the data directly into your ERP or finance system. Your finance team can then view and manage all invoice data using the online Supplier Portal – quickly and simply. Paper to Data (Invoice imaging) is also a cost-effective stepping stone to full eInvoicing. Following implementation we can work with you to get all your suppliers onboard, enabling you to make the easy migration to a fully automated AP process over time. Find out more about Paper to Data

Paper To Data (Outsourced Scanning)

Use Paper to Data to eliminate paper from day one. We receive all your inbound paper invoices, scan them and then output the data directly into your ERP or finance system for electronic processing. Paper to Data is a cost-effective stepping stone to full eInvoicing.

Dealing with inbound paper invoices is a time consuming and costly task. With Paper to Data you can easily transform this function by eliminating paper and introducing a quicker more cost effective process from day one. With invoice imaging, we receive and scan all your inbound paper invoices and output the data directly into your ERP or finance system. Your finance team can then view and manage all invoice data online – quickly and simply.

Key Benefits of Paper To Data/Invoice Imaging:

  • Eliminate paper from day one – No more manual processing and storage of paper documents. No more lost invoices or filing cabinets full of invoices you cannot find.
  • Implement full eInvoicing over time – You get an electronic data feed from day one but reduce costs and processing times in the longer term as your suppliers adopt eInvoicing.
  • Be more accurate and eliminate errors – Automated data capture and validation eliminates errors introduced by manual data entry and minimizes exceptions downstream.
  • Faster data entry into finance systems – Invoice data is immediately uploaded to your finance system upon receipt, giving you real-time access to all payables data.
  • Data archiving and full digital back-up – Once in the system, all AP document data is readily available online 24/7 and can be accessed from any web browser.
  • Cut costs in AP processing – Paper to Data/Invoice imaging introduces efficiencies throughout the AP function to streamline existing processes and lower invoice handling costs.