|
|
|
ARIES has been designed to significantly reduce the cost of the invoice settlement process by producing a 100% accurate invoice.
|
ARIES is an automated reconciliation & invoice creation service designed to streamline the purchasing cycle.
Accessible by buying organisations and their suppliers, ARIES replaces existing manual methods of invoice processing to significantly reduce costs and increase efficiency.
ARIES is suitable for all sizes of business and works alongside your existing eProcurement and finance systems. It uses simple browser technology and can integrate with buyers’ and suppliers’ systems.
Use of ARIES leads to a reduction in both direct and indirect process costs and improved cash-flow through a reduction of debtor days. ARIES guarantees the validity of invoices and ensures that payment is an integral part of the supply chain process.
ARIES reconciles despatches against orders and facilitates online dispute resolution. It creates 100% accurate invoices automatically and eliminates traditional invoicing problems.
Benefits
Efficiency Savings
- Eliminates traditional paper based invoicing processes
- Increases efficiency & reduces costs
- Reconciles despatches against orders
- Reduces time wasted on low value administration
- Streamlines purchasing cycle from ordering to payment
- Resolves all problems upstream in the process
- Provides full reconciliation prior to invoicing
- Creates 100% accurate invoices automatically
- Benefit from discounts & improved supplier relationships through expedited invoicing & payment processing
- Reduces transaction fees via multiple payment consolidation to suppliers
- Improves management of working capital
Auditability & Control
- Maintains full audit trail
- Online dispute resolution - all problems & actions captured
Works Alongside Existing Systems
- Independent of your current systems
- Receives orders from your eProcurement system
- Passes payment authorisation to your existing finance system
Benefits For Your Suppliers Too
- Expedited payments
- Reduction of debtor days
- Improved cash flow
- Reduction in process costs both direct & indirect
- Self billed invoices generated on behalf of supplier
- Guaranteed validity of invoice
- Integrates with supplier systems
- Uses just a browser - no client software required
- Beneficial to large & small suppliers alike
- Improved customer service
- Reduction in errors in catalogues
Key Features
Order Reception
- ARIES receives a copy of orders from your eProcurement system
- Standard XML formats ensure interoperability
Order Reconciliation
- Ensures the goods the supplier intends to despatch are those the customer requires – at the correct price & quantity
- Supplier enters into electronic discussion with the customer to resolve any discrepancies between the order and the goods to be despatched
- Any variation in price, quantity or description must be agreed by both parties before despatch is approved
- Handles any product substitution & ensures customer acceptance at this stage
- Full audit trail maintained of all actions against original order: amendments, agreements, rejections
- Manages troublesome issues such as carriage charges upstream
- ARIES sends details of despatch back to your eProcurement system
Order Settlement
- Integrated settlement process generates self-billed invoice on behalf of the supplier
- Copy of the invoice is sent electronically to the supplier and customer
- Customer can receive the invoice directly into their eProcurement system for matching or sent to their finance system
- Since the invoice is generated against an agreed despatch, 100% validity & matching is guaranteed
- Three-way matching process substantially reduces time, effort & resources required
|