Markus Quicken, CEO
Despite the caveats and learning curves, Industry 4.0 is transforming the realm of manufacturing through smart factories, automated and digitized manufacturing processes and smart data. When it comes to the hugely complex, multi-faceted ecosystem of the supply chain, companies are embracing Industry 4.0 and digital technologies to make supply chain management more integrated. However, amid the digitalization of the supply chain, the Procure-to-Pay (P2P) process continues to deal with invoices in paper form or in unstructured formats that cannot easily be computerized. What companies require is a complete and comprehensive invoicing solution that focuses not just on the invoicing aspect but also the whole process, from order to payment. This is precisely what SupplyOn brings to the table.
As one of the leading shared supply chain collaboration platforms, SupplyOn connects organizations and their global business partners and ensures that the entire P2P process is managed online quickly and transparently. SupplyOn specializes in accomplishing supply chain success for the manufacturing industry and covers industry-specific features in the automotive, aerospace, railway and engineering industries.
"Serving as an intelligent digital twin, SupplyOn handles all supply chain processes in a structured, transparent and secure manner"
Having a rich experience in rollout strategy, SupplyOn is on its way to becoming one of the biggest collaboration ecosystems in the world with more than 65,000 enterprises. The company’s dedicated team helps customers efficiently setup foolproof payment rollout strategies. With the aid of practical methodology and online tools such as the SupplyOn Rollout Cockpit, suppliers are capable of using independent payment systems in a short time. On the other hand, Procure-to-Pay—the company’s powerful invoicing solution—can be integrated into the overall business procedures. This implies that the invoicing data will be based on the actual order data, proving to be a global solution for both e-invoicing in general and country-specific invoicing. Besides, SupplyOn’s invoicing solution presents numerous advantages over conventional invoicing solutions and provides the highest cost-reduction potential.
All transactions operate on a digital platform, allowing suppliers to check the current status of each transaction at any time
According to Markus Quicken, CEO, SupplyOn, in the wake of high error rates and costs due to non-digital invoices, companies in the manufacturing industry have been investing a significant time to address a plethora of challenges across the P2P process, including the arduous review effort due to faulty attribution of invoices, unclear invoice status and tax arrears due to lack of transparency, and more. Added to that, as digitalization is sluggish in this realm, the process to attain business intelligence, analysis, strategic decision based on data becomes more complex and difficult. “Serving as an intelligent digital twin, SupplyOn handles all supply chain processes in a structured, transparent and secure manner–whether the goods to be procured are production materials, services or indirect material; regardless how big your business partner is and where they are located,” he adds.
Besides making supply chain complexity manageable through its robust SCM solutions, SupplyOn is ushering in innovation in the entire end-to-end process covered by Procure-to-Pay through seamless integration with China’s tax system. While enterprise payments are quite different in China, SupplyOn as a pioneer provides a one-suite solution for its Chinese customers. SupplyOn recently assisted Bosch in implementing P2P integrated with China Golden Tax System (GTS) for all of its plants and suppliers in China. SupplyOn’s solutions enable suppliers to confirm purchase orders (POs) and to issue invoices on the SupplyOn platform in a faster and more accurate manner. The order data can be automatically pre-filled into the invoice form, thereby significantly reducing the manual efforts relating to orders and invoices. To meet GTS’ invoice restrictions regarding maximum invoice amounts, SupplyOn enables the merge and split of order positions, saving further time and costs previously associated with error correction.
Moreover, the SupplyOn platform ensures that all invoices conform to Golden Tax rules and are compliant with customer-specific requirements. “All transactions operate on a digital platform, allowing suppliers to check the current status of each transaction at any time,” states Quicken.
Besides catering to the demands for POs and invoices, SupplyOn also provides support on delivery instruction/ scheduling agreements, advance shipping notifications (ASN), and goods receipts (GR). GR is more popular in the Chinese marketplace, where the customers always ask the material suppliers for direct issue of invoices based on GR data.
SupplyOn’s invoicing process enables suppliers to meet the Golden Tax invoice rules. In case the company uses the direct-invoicing plug-in from Aisino, the information can be easily transferred from the SupplyOn platform to the Golden Tax system. Golden Tax invoicing rules, status information, and invoice printing are all supported by the SupplyOn platform. Added to issuing of invoices and printing activities, the company also engaged in functions like invoice cancellation and red ink invoicing, which is the equivalent of a credit note. SupplyOn offers red ink invoicing as a full package product. The platform assists Bosch in processing data directly, thereby realizing automatic accounting and payment. In order to ensure timely payment, the supplier can check the invoice and the invoice compliance against the purchase order data before it is sent to the Golden Tax system and the buyer. “After the buyer, e.g. Bosch, receives the Fapiao paper invoice, the electronic data is delivered by the SupplyOn platform, where it has been enriched and validated with additional order data to enable a 3- or 4-way matching,” explains Quicken. This greatly simplifies the process for Bosch, preventing errors and enabling invoices to be automatically processed in the buyer’s system as quickly as possible.
Moving ahead, SupplyOn will continue to focus on solutions tailored to the automotive, aerospace, railway, and engineering industries. Besides, the company will broaden its scope in manufacturing, while keeping in line with the industry best practices. “Together with our consulting services, we will continue to expand the benefits of technology to embrace innovation,” concludes Quicken.