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 help 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 Sales Order-to-Cash or OTC process automates company accounts receivable collection departments into profit centers. OTC collection departments have the visibility to follow online the validation process. Suppliers now need to approve the deliveries against the items received and sales against their sales processes, respectively validating quantity and price before creating and sending their invoices to the buyers. TBXONE provides quantity and price dispute settlement work flow processes. When exceptions arise, suppliers and buyers will respectively be notified and will be able to settle their disputes online.
To make it happen, TBXONE integrates company back-office buying, combining the finance department’s accounts payable and receivables processes. We “move” these manual actions to an online collaboration process. Company purchase orders and receiving notes will be matched against deliveries and invoices sent by the suppliers.
Disputes between buyers and suppliers on quantity and price must be solved prior to creating and sending the invoices. TBXONE provides a dispute settlement work flow process where the parties can see the status of their disputes. Login or register FREE on TBXONE to see the video tutorial on the OTC process.