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Procure to Pay: eInvoicing

The boom in global eCommerce has seen an exponential rise in overseas manufacturing and complex international supply networks. This in turn creates a web of national regulatory compliance requirements that all companies must adhere to and greater financial scrutiny around every order placed. Mercado's eInvoicing application eradicates the need for procure to pay (P2P) point-solutions by creating a validated, verified, and digital invoice directly from the purchase order (PO), saving time, reducing errors, and improving invoice accuracy by minimizing audit risks.
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P2P connects procurement through to payment of goods
The procure to pay process connects the procurement and entire supply chain processes within a company through the goods receipt process, and finally to the payment issued to the vendor.

In recent years, companies have carefully looked at their purchase to pay processes to:

  • Reduce overall supply chain and inventory costs
  • Free up needed cash
  • Improve operational performance
  • Make improved financial decisions

In addition to reducing overall supply chain and inventory costs, improvement made to the payment process can add a visibility that allows management the opportunity to have better communication with suppliers as to where the items are in the delivery process and in turn improve payment to the vendor.
Reduce audit risks and complications
Mercado enables importers to confidently comply with local and national requirements from countries worldwide, creating a verified and validated invoice directly from the online purchase order (PO). By removing overheads and time spent validating financials, Mercado increases productivity and lowers the average transactional cost per invoice.

Leverage Mercado's comprehensive eInvoicing capabilities:

  • Valid electronic invoices that serve as legal documents, eliminating the need for paper copies
  • Maximum country coverage and lower compliance costs as a result of support for both post-audit and clearance eInvoicing methods
  • Historic archive with a view across all tiers of the supply network
  • Workflow authoring and management
  • Lower transactional costs due to the automation of invoice creation processes
  • Reduced audit risk with the accurate and historic storage of electronic invoices
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