Learn how Siemens has deployed Direct Insite technology for supplier invoice processing & self-service invoice/payment status lookup.
Direct Insite's discount management capabilities enable buyers to capture more discounts from suppliers, resulting in better rates of return and improved supplier relations. Suppliers benefit from improved cash flow, more predictable payments, and less profit leakage from unearned discounts.
Direct Insite's Invoices On-Line e-invoicing platform supports the three major forms of discounts:
- Pre-determined discount rates: Suppliers can electronically submit invoices with early payment discount terms via the Invoices On-Line portal. Buyers log into the Invoices On-Line portal where an intuitive invoice selection and status screen provides complete visibility into available discounts and their calculated value. Buyers then select any invoices to be paid early, and initiate payment via check, card or ACH based on established business rules using Invoices On-Line ePayment functions.
- Early payment discount options: Suppliers can choose from a set of discounts offered by buyers. Invoices On-Line combines purchase order flip and Web form entry functionality to electronically present discount options to suppliers during invoice submission. Discounts requested by suppliers will automatically override previously negotiated purchase order terms.
- Dynamic request/renegotiation: Invoices On-Line allows suppliers or buyers to initiate a dynamic discount proposal to trading partners. The platform facilitates the online negotiation between the parties and collects all supporting information about renegotiated payment terms.
Invoices On-Line provides all users interactive reporting and real time cash flow analysis based upon available discounts, and it maximizes supplier participation by enabling targeted communication regarding discount offers.