Encon, leading distributor of insulation, interior systems, fire protection and roofing materials, has decided to use Open ECX’s eHub to receive invoices electronically and directly into their finance system. This shift up a gear in terms of invoice processing is saving them time and improving the accuracy of their payments to suppliers.
The move to paperless eInvoicing technology showcases Encon’s commitment to providing efficient supplier payment practices for the benefit not only of its suppliers but also its employees. eInvoicing removes the need for paperwork or the arduous rekeying of emailed invoice information, which is time-consuming at best. Instead, each invoice from Encon’s suppliers is sent directly to Open ECX’s eHub simply as a PDF attached to an email. The eHub translates the PDF into a suitable format for Encon’s finance system. Using eInvoicing to streamline the administration associated with invoices ensures a smooth payment process that eliminates rogue spending and paper wastage. The time saved means Encon’s finance team can deal with other more strategic tasks.
Nick Lankester, Head of Finance at Encon, said: “We’ve got over 40 suppliers on board, and have already processed over 5000 invoices, all of which previously we would have keyed manually, so this has saved a lot of time.
“We chose Open ECX’s eInvoicing because of their great reputation in the construction industry. It was also important for Encon to be able to access original PDF’s as well as an XML file, rather than just the usual EDI transmission which can be difficult to interpret. Our new digital process, supplied by Open ECX, will save a huge amount of time and will help us re-focus our resource on more value-added tasks.”
Nick goes on to say: “The entire transition to eInvoicing was quick, easy and hassle-free. We started the process in early January 2018 and our top ten suppliers were up and running by March – an impressively efficient shift!. Although the integration into our own system lengthened the process, we overcame all of the challenges with the support of Open ECX. Overall it has definitely been a positive move for the company.”
Business benefits:
- eInvoicing is time and cost-efficient, expediting the payment process so payments can be made without complication and your staff can focus on more strategic tasks.
- eInvoicing is compatible with most business infrastructures, meaning information from the PDF invoices can automatically be translated into your back-office finance system.
- Minimises costly paper waste and time-consuming manual invoicing.
- Open ECX offer complete support and assurance during the eInvoicing onboarding process, making the switch easy for both your business and your suppliers.
- Open ECX’s specialist eInvoicing team are trained and experienced to quickly and efficiently onboard suppliers in order to help businesses like Encon process invoices in a timely and straightforward manner.
- Open ECX works with the entire supplychain – contactors, subcontractors, merchants and manufacturers – to map end-to-end processes and provide a streamlined and seamless solution for the management of supplier invoices.
