Connect Finance 4.0 to supplier field services


Pay suppliers on the day of completing work, extend payment terms and combine all supplier invoices into one



Connect Finance 4.0 to supplier field services

Finance 4.0 optimizes finances and provides live control



Same Day Pay


Automate invoice reconciliation against milestones, purchase orders, goods received and invoice received. Process invoice approval (partial or full) and payment on the same day suppliers complete work.

All Suppliers, One Invoice


Combine all supplier invoices into one invoice, once a month.  Each line item is automatically aligned with extensive empirical data.


Extended Payment Terms


With Same Day Pay, enterprise buyers can now extend payment terms to maximize cash flow.


Zero Based Budgeting


Using Scopeworker's live, empirical data, budgets can be accurately built from a zero base regardless of whether it is higher or lower than previous budgets.
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THE PROBLEM

Enterprises take 5-90 days to approve a supplier's invoice

The invoice reconciliation process for critical infrastructure enterprises is a manual process of the buyer, supplier and worker using email to compare excel spreadsheets with ERPs, Procure-to-Pay platforms and milestone databases.  This takes up to 3-months prior to payment terms commence.  This limits the marketplace to tier 1 and 2 suppliers, who have the budget to carry the 5-90 day approval process.  It excludes smaller, cost-effective suppliers. (Source: Wireless Estimator 2019 https://bit.ly/2HsG3h3)


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Same day pay

Same Day Pay creates double-digit percentage  savings on multi-billion dollar services spend

Upon the buyer's live acceptance of the supplier's closeout package, invoice reconciliation is automated against Milestones, Purchase Orders, Goods Received and Invoice Received. This enables the buyer to approve the invoice moments after work is complete - or choose auto-approve - and for suppliers to receive Same Day Pay weeks before traditional supply chain financing solutions. Same Day Pay removes the barrier of entry for 1000's of qualified, small and medium sized suppliers to compete with large suppliers inside Scopeworker’s automated marketplace. Small and medium sized suppliers provide field services at double-digit percentage savings to that of large suppliers. Suppliers require no manual engagement with the buyer's ERP or Procure-to-Pay platforms for purchase requests, purchase orders, change orders, invoicing or payment.

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Extended Payment Terms

Same Day Pay enables the enterprise to extend payment terms

Because of Same Day Pay, enterprise buyers can choose to extend their supplier payments terms. This enables enterprises to maximize their use of capital, allowing them to have more cash flow for any number of new projects. Extending payment terms ensures an enterprise's competitiveness while simultaneously improving transparency and predictability of payment processes.

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ONCE A MONTH INVOICING

All suppliers, one invoice, once a month with extensive line item data

Enterprise buyers can choose to combine all supplier invoices into one invoice, once a month.  Because of digitalization, the once a month invoice contains all the data of every supplier's deliverable down to a line item and with all the corresponding timestamp, geospatial and approval chain data.  
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AUTOMATED MARKETPLACE

Democratizing the supply chain creates double-digit percentage savings

Scopeworker's automated engagement with suppliers and the access to Same Day Pay enables enterprise buyers to directly engage - en masse - smaller, cost-efficient, suppliers that traditionally subcontract under the larger suppliers.  Scopeworker's intuitive onboarding, automated procurement, project management and payment of field services lowers the barrier of entry for these small suppliers to compete with large suppliers.  The automated marketplace brings lower prices and leverages the competitiveness of larger suppliers.

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COMPLIANCE

Centralized control with decentralized execution supports live Sarbanes-Oxley auditabiliy

Enterprise finance departments often struggle to gain control and visibility of market programs. Scopeworker's live transparency allows decentralized markets to have autonomy over their local strategy while allowing the finance department to have total transparency and centralized control.  The transparency tells the story in real time.  This enables total cost control and enables finance departments to have the freedom to explore interactive data without being limited to predefined questions, wizards or chart types. They gain live analysis of costs across projects, markets, regions and countries. The platform yields business agility, informed purchasing and process efficiency, whilst providing financial oversight that supports Sarbanes-Oxley auditability.

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MANAGEMENT

Live analytics drive management by exception

With live total transparency of every dollar spent, Finance departments can manage by exception.  Financial coding, purchase orders and change orders are auto-aligned with procurement, invoice management, supplier SLAs and worker productivity.  Financial items that require manual review can be defined at a global or commodity level. Machine-learning supports non-matching algorithms (e.g. invoices) and routes them for review and resolution. 

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ZERO-BASED BUDGETING

Live transparency supports real-time Zero-Based Budgeting 

Scopeworker's end-to-end automation provides the data required for true Zero-based budgeting (ZBB). The process of zero-based budgeting starts from a "zero base," and every function within the program can be real-time analyzed for needs and costs. Using live, empirical data, budgets can then be built for what is needed for the upcoming period, regardless of whether each budget is higher or lower than the previous one.