Power of PAYBOX®
How to Choose a PeopleSoft Dynamic Discounting Solution
With advances in technology and ERP systems, the number of organizations that still depend on paper-based, manual invoicing and discount management processes is surprising. An overreliance on labor-intensive processes contributes to inefficiencies and bottlenecks throughout the financial supply chain, in addition to costing organizations precious time, resources and money. PeopleSoft dynamic discounting solutions significantly improve invoicing and discount management for organizations using a PeopleSoft ERP solution.
Benefits of PeopleSoft Dynamic Discounting Automation
Large Global 3000 companies are leveraging PeopleSoft dynamic discounting add-on tools like Direct Insite’s PAYBOX® solution to achieve meaningful business results and a competitive advantage. PAYBOX® enables buyers and suppliers to manage dynamic discounting opportunities and negotiate early payment terms from a single, user-friendly portal. There are several important benefits companies can reap after implementing an add-on solution for their existing PeopleSoft ERP investments:
- Greater visibility into invoicing, discounts and cash flow trends in real time and over the long term
- Stronger supplier-buyer relations by streamlining negotiation and invoicing processes through a single, secure platform
- Reduce labor costs by eliminating the need for tedious data entry
- Enhanced discount capture capabilities and cash flow management
- Improved compliance with external and internal regulations, as well as the ability to set customized business rules, routing instructions and notifications
For organizations that are still relying on manual-based supplier discounting processes, Direct Insite’s PAYBOX® solution streamlines dynamic discounting and enables organizations to capture more discounts, while reducing overall AP operational costs in organizations that use PeopleSoft.
Finding a PeopleSoft Dynamic Discounting Partner
When selecting a PeopleSoft dynamic discounting solutions provider, there are several important factors to consider.
- Do you need a custom solution? One size does not fit all in the enterprise space when it comes to AP automation tools. Companies need tailored solutions that are unique to their business requirements and processes. That’s why PAYBOX® can be configured exactly to an organization’s specifications. Companies can set customized business rules, notifications and routing instructions that are automatically applied to dynamic discounting processes.
- Are monitoring and reporting capabilities important? It’s difficult to track and monitor the progress of paper-based invoices, let alone understand historical discounting trends and long-term AP and AR performance. By automating processes associated with dynamic discounting through PAYBOX®, organizations can obtain a comprehensive view of historical trends to make smarter business decisions grounded in data.
- What are your financial supply chain goals? Organizations must assess their unique goals and business requirements before choosing a dynamic discounting automation solution. Most companies strive to increase the efficiency of the financial supply chain while reducing costs and maximizing profitability. With an automated dynamic discounting solution specifically designed for PeopleSoft ERP systems, buyers and sellers can make it easier to negotiate mutually beneficial payment terms that improve the cash management needs of both parties.
It’s important for enterprises to consider these questions when evaluating PeopleSoft dynamic discounting providers. With the right solution, companies can dramatically improve AP and AR processes and cash flow management.
About Direct Insite’s PeopleSoft Dynamic Discounting Solution
Direct Insite’s PAYBOX® solution integrates seamlessly with existing PeopleSoft ERP systems, while enabling buyers to submit proposed payment terms and discount rate requests directly to suppliers. Suppliers can use the portal to view all open invoices, discount proposals, discount rate comparisons and capital sources. The portal even allows suppliers and buyers to submit counteroffers and update dynamic discounting requests. To learn more about Direct Insite’s PAYBOX® solution for PeopleSoft ERP users, call us today at 954-510-3750.