Power of PAYBOX®
How to Improve PeopleSoft Dispute Management Processes
Organizations running PeopleSoft ERP systems have made serious investments in enterprise efficiency and technology. However, without an add-on accounts payable (AP) solution that handles PeopleSoft dispute management, companies will encounter inefficiencies throughout the financial supply chain due to a high volume of invoicing disputes and supplier inquiries.
Challenges with PeopleSoft Dispute Management
Most often, an overreliance on human-intensive, paper-based invoicing and dispute resolution processes is the root cause of inefficiencies and other serious issues in AP departments using PeopleSoft. There are several common issues that arise when companies are in need of an add-on PeopleSoft dispute management solution. These include:
- Large volume of supplier disputes and inquiries
- Data errors and missing or incomplete information
- Increased labor costs and time spent processing supplier disputes
- No access to metrics or analytics regarding AP processes and dispute management
- Failure to meet compliance requirements
All of these problems stem from paper-based invoicing and manual data entry processes in AP departments. There is significant room for error when relying on manual-based invoicing processes, which can impair the success of the financial supply chain and operational efficiency—wasting valuable resources, increasing AP costs and damaging supplier loyalty and cash flow.
Improving PeopleSoft Dispute Management Processes
By leveraging an automated PeopleSoft dispute management solution, companies can eliminate the financial supply chain bottlenecks caused by paper-based invoicing and manual processes. Direct Insite’s PAYBOX® solution automates many of the tasks and processes associated with dispute management. This enables AP staff to resolve invoice disputes faster and easier, while maximizing the impact of PeopleSoft ERP investments.
When companies implement PAYBOX®, they can expect to achieve several important business benefits, such as:
- Self-Service Supplier Model: With PAYBOX®, suppliers can submit dispute inquiries electronically and upload inquiry attachments. This eliminates the need for employees to manually key in supplier invoice information and reduces instances of error. Suppliers can submit inquiries at the invoice or line-item level, enabling more accurate identification of specific invoice disputes. The inquiry is automatically recorded and distributed to the appropriate staff member on the AP team based on the custom-configured settings. This not only makes it easier for suppliers to submit inquiries and for buyers to process them, but also strengthens supplier relationships.
- Real-Time Reporting Tools: Dispute management automation tools from Direct Insite provide a 360-view of historical AP data and dispute requests to give companies increased visibility and streamline financial auditing requirements. PAYBOX® also provides comprehensive dispute information, such as dispute reason codes, dispute date and time, descriptive text, dispute amount, disputed invoice number, account number and any associated attachments from suppliers or buyer organizations.
- Advanced Configurations: PAYBOX® allows companies to set business rules, requirements and notifications for all dispute inquiries and resolutions. In addition to creating custom workflows and routing instructions, PAYBOX® enables companies to improve compliance with external and internal regulations.
Direct Insite’s PAYBOX® is the most comprehensive dispute management solution for organizations that use PeopleSoft ERP software. The solution can be tailored to an organization’s specific business needs and AP workflows, simplifying invoicing dispute management processes and increasing return on enterprise technology investments. If you are ready to take the next step and find out more about Direct Insite’s PAYBOX® solution for PeopleSoft users, call us today at 954-510-3750.