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Frequently Asked Questions About Oracle Dynamic Discounting
Oracle dynamic discounting solutions enable companies to automate invoice and discount management processes. Large organizations across the globe are leveraging dynamic discounting to achieve a business advantage.
For Oracle users, dynamic discounting and AP automation significantly improves cash flow, fosters more predictable payment schedules and maximizes discounts captured. This improves the return on Oracle investments, increases profitability and streamlines operational efficiency.
With more organizations leveraging automated dynamic discounting solutions to complement their existing Oracle ERP systems, there are several questions to consider before determining an add-on platform.
How Does Oracle Dynamic Discounting Streamline My Organization’s AP Processes?
In the enterprise environment, buyers can capture discounts from suppliers in exchange for paying invoices early. With interest rates at a historic low, early payment discounts are popular among buyer organizations. Payment terms including 2%10 net30 can equate to a 36 percent APR if approved and settled within a 10-day window, adding up to real cost savings for companies.
With dynamic discounting, buyers can still take advantage of the early discounts offered by suppliers while extending the discount period beyond the traditional 10-day window. Automated Oracle dynamic discounting solutions give suppliers the option to discount approved receivables any time leading up to the invoice payment due date.
What Should I Look for in an Oracle Dynamic Discounting Solution?
An effective Oracle dynamic discounting management system supports the full range of invoicing and discount options. It’s important to employ an easy-to-use, flexible solution that handles the negotiation and renegotiation of discounting terms.
Buyers and suppliers can manage the dynamic discounting process through an easy-to-use, Web-based portal with Direct Insite’s PAYBOX® solution. Direct Insite’s PAYBOX® solution allows buyers and suppliers to submit proposals and update relevant information for payment terms directly through the platform. This improves supplier and buyer relationships.
What Benefits Should I Expect to Achieve with an Oracle Dynamic Discounting Solution?
With a dynamic discounting solution for your Oracle ERP system, you can expect to achieve several important business benefits, including:
- Efficiency Gains: Surprisingly, many enterprises still rely on labor-intensive, manual data entry and communications for dynamic discounting processes. This is not only time consuming, but also increases processing costs and instances of error, which can jeopardize early payment term requirements. By automating dynamic discounting processes, companies can realize significant efficiency improvements across the financial supply chain.
- Increased Visibility: With a Web-based AP automation and dynamic discounting tool, Oracle users have complete visibility into the status of discounts, invoices and dynamic payment terms. Buyers and sellers can even negotiate terms or communicate updates to one another directly through the portal, eliminating the need for unnecessary back-and-forth correspondence via email or phone.
How Do I Implement an Oracle Dynamic Discounting Solution?
For organizations that are ready to transform their AP processes and dramatically improve financial supply chain efficiency, Direct Insite’s PAYBOX® platform is the leading AP automation and dynamic discounting solution for enterprises using Oracle ERP systems. Please call us today at 954-510-3750 for more information or to schedule a private consultation.