SOURCE: BidSync

BidSync

October 14, 2014 11:08 ET

BidSync Adds Invoice Functionality to BidSync Purchase™

New Invoice Functionality for BidSync Purchase Will Enhance the Company's End-to-End e-Procurement Suite

AMERICAN FORK, UT--(Marketwired - Oct 14, 2014) - BidSync announced the release of new invoice functionality to its BidSync Purchase solution. The enhancements will help agencies reduce the time spent managing change and communications with vendors for purchase orders and will automate the ability to validate the value of received goods and services against purchase order data and invoices.

"One of our large county government clients told us that the purchasing department receives or makes an average of 17,000 phone calls per year to manage purchase orders and back-end invoice resolution," said Fred Tillman, interim CEO of BidSync. "We developed enhanced functionality to BidSync Purchase that will relieve the largest and most common pain points occurring during purchase order management and invoice processing. We anticipate that our clients will see significantly lower call volumes and improved communications with their vendors as they manage the purchase order and invoicing processes within BidSync's online e-Procurement marketplace."

With the new enhancements, BidSync Purchase will solve upstream activity problems that disrupt the invoicing and purchase order process. The new features include:

  • Auto-matching of each line item in a purchase order against vendor invoices.
  • A bi-directional purchase order change management tool where the agency or the vendor can propose changes to the PO. Once approved, the change is incorporated automatically. This replaces change management via phone, email and fax.
  • Invoice tracking capabilities for vendors, which reduces call volume and payment status inquiries into the agency.
  • An automated invoice creation tool where vendors can create invoices directly from associated purchase orders inside of BidSync Purchase, reducing front-end errors and processing time.
  • An auto match function that compares and validates invoice line item values against purchase order line item data.
  • Validation of received items or value of goods and services against line items in purchase orders.

Agencies will see reduced processing times for purchase orders and greater accuracy and validation. Vendors will see more seamless interactions and fewer delays. Both agency clients and vendors will see lowered overhead costs associated with purchase order and invoice management.

"The enhanced functionality of BidSync Purchase is part of our overall mission to create a true marketplace that enables agencies and vendors to work together in more informed and collaborative efforts to deliver timely value," said Tillman. "This year alone we have added two new products to our e-procurement solution suite and now offer agencies superior capabilities to conduct every part of the procurement process to the benefit of their internal customers, vendors and constituencies."

The company recently released BidSync Request and BidSync Purchase, making it the only e-procurement solution provider on the marketplace that offers true end-to-end capabilities for public sector agencies. BidSync's innovative e-procurement solutions have been trusted by more than 1,000 public sector agencies. Additionally, BidSync's vendor database provides access to more than 800,000 qualified vendors nationwide.

About BidSync
BidSync (www.bidsync.com) offers comprehensive, cloud-based, end-to-end e-procurement solutions that help public sector agencies streamline their procurement process, maintain compliance, reduce costs, enable transparency and save time. The solutions deliver cross-functionality through the entire procurement process from request to settle. BidSync also delivers bid notification services to more than 800,000 vendors nationwide. BidSync has more than 15 years of experience and its award-winning solutions have been relied on by more than 1,000 public sector agencies.

Facebook: https://www.facebook.com/BidSyncCorporate
Twitter: https://twitter.com/BidSync
LinkedIn: http://www.linkedin.com/company/bidsync