Corporate Solutions

If your company makes large numbers of ad-hoc purchases, receives lots of low-value invoices or deals with many one-time-only vendors, Invapay can save you time and money

The problem
Nearly every business needs to engage smaller regular suppliers such as cleaners or caterers, or make one-off purchases such as office supplies.

These small or occasional purchases soon add up. Dealing with large numbers of low-value invoices, or setting up lots of one-time-only vendors (‘OTOVs’) on your ERP/Accounting System as authorised suppliers in order to process a single order, can have a major impact on your overheads.

In fact, for many firms, the 80/20 rule applies: 80% of invoice volume accounts for just 20% of value. And then there’s the time involved in keying invoices, talking to suppliers and reconciling payments. Using purchasing cards (company credit or debit cards) can help, but many smaller suppliers don’t accept them – or they’re unwilling to do so for a single customer. And if they do, they usually can’t provide the kind of transaction data your systems prefer. As a result, companies chase paper when they could be chasing profits.

The solution
There is another way: Invapay.
Invapay is an online money transfer system that automates the process of receiving and paying invoices. In many ways, Invapay is similar to PayPal, but tailored for the business-to-business arena.

Invapay offers an integrated, efficient way to manage your smaller suppliers and ad hoc or low-value purchases. Once your suppliers are registered with Invapay, you can carry out the entire purchasing process through the Invapay website – from requesting estimates and confirming orders through to payment.

How it works

• You choose one of two payment models, annual subscription or pay as you go.
• For your suppliers, registration is free and usually completed in minutes. (Registered suppliers pay a per-transaction fee that’s comparable to the cost of accepting credit cards.)
• Once registered, suppliers appear in our online directory along with details of their products or services.
• When you want to raise an order, you simply search the directory, find your chosen supplier and enter the details, or set up a new supplier that you wish to trade with.
• When the supplier accepts the order, payment is then processed via Invapay. Alternatively, suppliers can create quotations online that can be ‘PO-flipped’ into orders.
• You receive comprehensive, line-by-line information on all your purchases that’s easily integrated with your existing systems.
• It’s that simple! There is no paper to handle, no manual rekeying of invoices and you can reconcile payments online.

Key benefits

• Save time and cost at every stage of the purchasing process: setting up suppliers, raising purchase orders, receiving invoices and reconciling purchase information
• No more paper invoices (although they can be electronically uploaded into the system if required)
• Better visibility of spending patterns
• Full integration with your ERP system (SAP, Oracle etc)
• Full ‘line item’ (LID Level 3 data) available on every purchase; line detail automatically reconciled with ‘headline’ transaction data from payment networks
• Fully tax/VAT accredited ‘Level 3’ transactions; VAT information available at a glance

Take the next step
To learn how Invapay can save you time, cost and paperwork, call us now on +44 (0)207 868 1667 or email enquiries@invapay.com