InvoiceNxt, a Singaporean Fintech offering an Enterprise SaaS with embedded finance, is revolutionizing corporate buyers’ relationships to their entire supply chain. InvoiceNxt provides corporate buyers with an easy-to-use platform that streamlines procurement processes, improves data quality, and helps to achieve bottom-line savings. In this blog post, we’ll explore three key benefits of using InvoiceNxt for corporate buyers.
Fewer Inquiries from Suppliers
Corporate buyers often receive inquiries from suppliers regarding PO-, goods receipt-, invoice-, and payment status. These inquiries can be time-consuming and create unnecessary friction in the supplier-buyer relationship. With InvoiceNxt, suppliers can access all relevant data about their transactions with corporate buyers, eliminating the need for inquiries. This feature saves corporate buyers time and resources while improving their relationships with suppliers.
Improved Data Quality
InvoiceNxt provides much better data for all supplier invoices created on the platform. InvoiceNxt offers PO-flipping and a powerful real-time image-capturing solution, which helps suppliers create “perfect” electronic invoices. This feature ensures that invoices are accurate and complete, reducing errors and the need for manual intervention, which is the basis for straight-through processing (STP). Improved data quality leads to better insights into procurement- and AP processes, higher levels of automation and improved supplier relationships.
Direct Bottom-Line Savings
The key benefit of using InvoiceNxt is the direct bottom-line saving those corporate buyers will achieve through discounts. InvoiceNxt offers early payment against a small discount embedded into every single transaction. In most cases, the money will be disbursed within minutes, allowing suppliers to manage their cash flow more efficiently. For many suppliers, requesting immediate payment is more about payment certainty and convenience than working capital needs.
InvoiceNxt automates the early payment process completely, and it makes no difference whether the early payment is provided from (cash-rich) corporates’ balance sheets or from InvoiceNxt and our funding partners. Corporate buyers benefit by receiving early payment discounts, directly impacting their bottom line. This is a win-win for both corporate buyers and suppliers.
Within only hours, InvoiceNxt is technically connected to corporate buyers’ ERP systems (our interface is certified by SAP for ECC & S/4HANA, but not limited to SAP ERP).
InvoiceNxt creates only outcome-based costs, with no upfront investment by the corporate buyer.
In conclusion, InvoiceNxt is a game-changing solution for corporate buyers looking to improve their procurement processes, achieve bottom-line savings, and enhance their relationships with suppliers. With features such as fewer inquiries from suppliers, improved data quality, and automated early payment processes, InvoiceNxt is leading the charge in B2B digitalisation and automation.
Its simple integration and outcome-based cost structure make it an attractive option for corporate buyers looking to improve their supplier relationships.
InvoiceNxt is an enterprise SaaS solution designed especially for emerging markets. It is focused on digitising B2B transactions between buyers and suppliers and offering fuss-free early payment in form of supply chain financing to suppliers ( large, medium & small, and micro enterprises) regardless of how small the invoice amount is. InvoiceNxt is ESG-inclusive and aids corporates in achieving their net-zero targets.
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