Transactional document exchange

Manual, paper-based processes in the Accounts Payable department can represent a major point of weakness in many organisations. Not only are such processes labour and cash intensive, but they expose the business to significant risk through limited audit and the opportunity for error and fraud.

Wax Digital Payables solutions make use
of our unique Three Tier Trading©
technology to deliver process automation
across the full range of transactional
document exchange, particularly orders
and invoices.		  

Wax Digital Modules

Three Tier Trading©
Invoice Matching

Key solution business drivers and benefits include:

Cost reduction: Eliminating paper processes means eliminating many of the associated costs, from printing and physical distribution through to manual data entry, reconciliation, authorisation and error-handling. In many instances the ROI case for Payables automation can be proven in as little as 6 months.

Error prevention: Manual processes create substantial opportunity for error, whether that error be accidental or malicious. Process automation minimises manual intervention and traps every anomaly.

Audit: Every system action, every document movement, every human intervention is captured, recorded and time-stamped - essential business practices in the era of Sarbanes-Oxley.

Process acceleration: Intuitive business rules facilitate invoice matching and exception processes where additional authorisation is required - all carried out electronically. Data can be shared easily between departments, helping Accounts Payable keep Procurement and Treasury abreast of cash requirements, early-pay discounts and supplier performance.

Ease of adoption: Web technology and usability mean even the largest supply chain can be on-boarded. A portfolio of offerings from web portal to bespoke integration means suppliers of every size and technical capability can easily engage.
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