Quantified Commerce – a cloud-based overall solution
Quantified Commerce is a complete outsourced solution for large companies and organisations with the aim of creating transparency and simpler financial control. This service includes coordination of paper and e-invoices, as well as the scanning and certification system. What we deliver is a secured flow of inward transactions, as well as checked and correct figures outward to the person responsible for accounting in your organisation.
In Europe alone there is a large range of invoices, each of which require different types of processing. All formats are collected in our Quantified Commerce and are checked by us.
Regardless of country and transaction, we familiarise ourselves with the information and enter it in our system. Is the supplier OK and the delivery correct? Do the price, VAT and discounts tally with agreements and rules?
We are already providing Quantified Commerce – our BPaaS-service (Business Process as a Service) which saves working hours and gives the entire accounts management process a higher degree of precision.
Business Process as a Service
Outsourcing your entire ledger system to our Service Cloud makes it easy for you and your organisation to obtain an overview and simultaneously frees up valuable resources.
Please ask us more about:
- cloud-based management of ledgers
- cloud-based coordination of invoices and certification
- assured transparent transaction flows
In principle, the transaction process is simple: order, delivery, invoice and payment. The reality is more complicated. There are a large number of different standards for how the information on an invoice has to be supplied. It can be in a envelope, as a PDF in a mail or as an e-invoice. Service Cloud helps customers and suppliers to coordinate and ensure invoicing in a 100% digitalised flow of invoices from day one.
There is some truth in the old saying that 20% of invoices take up 80% of the time. Service Cloud enables a faster flow, at the same time as flagging up incoming errors. For maximal flexibility, Service Cloud is also a platform-dependent service. For example, the certifiers can approve invoices on a tablet, smartphone or computer. In combination with our compliance-service, we block invoices which should not enter the certification flow, for example, from non-approved suppliers and bluff-companies.
Purchasing of products and services at the best possible price is a central task for all purchasing departments. Good supplier relationships can be achieved through increasing visibility and control of the suppliers ledger. Service Cloud makes all suppliers and their contracts visible. This enables customers to ensure that the prices are correct and that no discounts are missed.
Is the invoice correct? Is the total price as per the contract? Is the VAT correct? This is usually information to which the certifier does not have access. With data from over 1,000 companies, we have concluded that one in ten invoices contains some errors. In some cases companies can lose up to 1.5 % of the purchased volume just on invoicing errors.
Service Cloud can help the certifiers to flag up invoices that contain errors, for example in relation to:
- dispute management
- AP automation
A large proportion of internal frauds take place through use of the suppliers ledger. Continuously updating the suppliers ledger is therefore a necessary security measure. The simple way to update the suppliers ledger is to let Service Cloud do it. The service consolidates the suppliers ledger on an ongoing basis. At the same time account number, addresses and other contact details are checked. To maintain a maximum level of security, our credit reference service also monitors all relevant suppliers.
How is the company’s money spent? How can our cash be maximised? Service Cloud has the answer to these questions and more besides. Our service gives you a full-scale business intelligence solution throughout the entire P2P-process which identifies bottlenecks and the potential for improvements – for example, in terms of cashflow. The service is updated in real-time and delivered to the authorised user’s screen as a number of screen views, so-called dashboards. In concrete terms this is a number of clear tables, pie charts and bar charts. These are adapted according to professional role and personal wishes. For example, one type of view for controllers and another for treasury.
Monitoring customers and suppliers
Solvency comes and goes. Service Cloud gives customers automatic warnings, for example, if a customer or supplier loses its credit worthiness.