5 methods for managing invoices in the construction supply chain

This from Open ECX, Electronic Construction Exchange…

Finding the best way to effectively manage invoices from multiple suppliers can be a challenge. and there are different methods available which vary according to implementation costs, supplier on-boarding, installation time and maintenance.

Whereas larger scale businesses, such as buyers in the construction distribution trade, might prefer automated electronic invoicing systems (e-invoicing), a smaller company might find manual processes more suitable; it all depends on the nature and breadth of a particular business.

But what are the benefits and challenges of the main approaches to managing invoices in the construction supply chain? In this guide, Open ECX reviews 5 ways to manage and process construction supply chain invoices, these being:

OCR scanning
XML or EDI invoicing
Invoice portal (PO Flip)
PDF e-invoicing

The eGuide considers the ease of installation, the speed of supplier on-boarding, data accuracy, and the costs involved to both you and your suppliers.


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