TradeCentric Enhances Coupa Invoice Automation Integration for B2B Buyers
Invoice automation solution streamlines processes and reduces costs for B2B buyers using Coupa to process supplier invoices
TradeCentric, the leading provider of B2B integration and automation solutions between eCommerce systems and eProcurement solutions, announces its comprehensive support for Coupa Invoice Automation. This strategic integration aims to bridge the gap between suppliers and buyers using Coupa, streamlining invoice management and drastically improving PO-invoice reconciliation rates.
TradeCentric’s Coupa Invoice Automation integration seamlessly translates and delivers supplier invoices into Coupa, guaranteeing accurate formatting and validation of all invoice data. As a result, buyers reduce the cost and overhead of the PO-invoice reconciliation process while realizing improved data matching between requisitions, purchase orders and invoices.
“We have worked closely with Coupa to explore ways we can maximize value for our mutual customers,” said Kevin Kazenmayer, Head of Channel Development at TradeCentric. “Processing supplier invoices manually can be both time consuming and error-prone. Our support for Coupa Invoice Automation simplifies complex B2B buying and selling processes, ensuring a better, more seamless trading experience for all.”
Key benefits of TradeCentric’s Coupa Invoice Automation solution include:
- Improved Data Accuracy: Businesses can significantly reduce discrepancies and augment data matching across requisitions, purchase orders, and invoices, resulting in a touchless invoice rate of 92%.
- Eliminated Errors: By transforming invoice data from suppliers, buyers no longer need OCR for PDF invoices, further minimizing potential error rates.
- Reduced Costs: Seamless integration lowers costs associated with manual reconciliation, translating to tangible savings for buyers and faster payment for suppliers.
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“The functionality and flexibility TradeCentric integration provides enables our Accounts Payable team to meaningfully reduce time they spend manually entering invoice data,” said Hema Sankar, Director of Procurement Systems at Mars Veterinary Health. “We electronically map invoices to the appropriate supplier accounts and match invoices with POs, so the AP team doesn’t need to intervene manually. This saves time and has allowed us to redeploy FTEs to higher value processes. We’ve consequently improved our financial controls with invoice data flowing from system-to-system, rather than via error-prone manual processes.”
