Accounts Receivable, Accounts Payable & Supply Chain Financing

Historically, invoice reconciliation for critical infrastructure servuces, is a manual process of the buyer, supplier management and the supplier's fiild force using email to compare excel spreadsheets with Procure-to-Pay platforms, milestone databases and field force apps.  This process can take up to 3-months prior to payment terms commencing.  It limits the marketplace to small group of large tier 1 and 2 suppliers who manage subcontracting.

Upon live approval of the supplier's closeout package, invoice reconciliation is automated. This enables the buyer to approve the invoice moments after work is complete (or choose to delay or partially approve). This allows suppliers to select Same Day Pay weeks before traditional supply chain financing solutions. Same Day Pay removes the barrier of entry for qualified, cost-effective, diversity suppliers to enter Scopeworker's automated marketplace.

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.  

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.

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. 

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. 

Upon closeout acceptance, Supplier invoices can be fully or partially generated from the Purchase Order.  These can be instantly reviewed by the buyer, while the supplier has live visibility of invoice status from receipt to final payment.  All your invoices are digitally signed, encrypted and can be accessed at any time.

Is your AP team wasting time reconciling PO-based invoices, approving non-standard invoices, and processing exceptions? Connecting Scopeworker Execute to Scopeworker Pay streamlines the AP process from initial receipt of invoice to submission for payment.  This creates significant cost, time and quality efficiencies.  Live reports provide full audit trails on all activity.