Speeding up the cash-to-cash process cycle
Buying and selling is a centuries old “manual” process, and is still widely practiced as such. It started with individuals, using available tools over time to accelerate their sales and buying processes. Tools paper, telephone, fax machines, and now emails and applications on the internet helped speed up the sales process. TBXONE accelerates traditional buying and selling principles by providing a cloud-based, collaborative commerce platform and all necessary tools. By using TBXONE, buyer and seller improve their working capital within their processes.
TBXONE Purchase Order-to-Pay or OTP process automates company accounts payable departments into profit centers. We minimize and route the labor intensive three-way matching process to the respective responsible buyer and receiving roles where the A/P department only has an audit role. To make it happen TBXONE integrates company back-office buying, receiving the financial accounts payable and receivables process. We “move” these manual actions to an online collaboration process. Company purchase orders and receiving notes will be matched against deliveries and the invoices sent by the suppliers.
Dispute settlement between buyer and supplier on quantity and price must be solved prior to creating and sending the invoice. TBXONE provides a settlement work flow process where the parties can see the status of their disputes. Login or register for FREE on TBXONE to see the video tutorial on the OTP process.