SOURCE: Transcepta LLC

Transcepta LLC

September 19, 2013 08:00 ET

Transcepta Unveils PO Cloud Match

Innovative Technology Enables Straight-Through, Automated Invoice Processing in Accounts Payable

ALISO VIEJO, CA--(Marketwired - Sep 19, 2013) - With its industry-leading technology, the Transcepta Global Business Network electronically connects customers to more suppliers, more quickly than any other network and enables them to transact and collaborate in the Cloud like never before.

Today, Transcepta unveils its latest breakthrough: PO Cloud Match. 

To authorize payments, automated accounts payable (AP) systems typically match supplier invoices to their organization's purchase orders. If any of the needed PO data is missing, invoices are held back, interrupting straight-through processing and necessitating manual follow up -- causing extra work and delays for all involved. Transcepta PO Cloud Match eliminates these drawbacks.

Revolutionary PO Cloud Match from Transcepta enables customers to achieve the highest straight-through, electronic invoice processing rates possible. When suppliers submit invoices over the Transcepta Network, intelligent algorithms predict and populate any missing PO line item numbers. For PO line item numbers that are present, Transcepta verifies that they are accurate or valid, digitally matching the invoice to the PO. If the PO line item number cannot be predicted or if the PO data is invalid, Transcepta returns the invoice and purchase order side-by-side to the supplier, so that the supplier can "clean" the invoice and resubmit it. Gone are the days when AP and procurement staffs struggle to reconcile invoice issues created by suppliers.

According to Transcepta vice president Shan Haq, "It would be great if all suppliers included necessary, accurate PO data when transmitting their invoices. However, this is simply not the case. PO Cloud Match solves the problem of incomplete or inaccurate invoices -- dramatically reducing AP exceptions."

As the fastest growing network, Transcepta maximizes supplier adoption, ensuring:

  • No supplier is left behind; connectivity is FREE, fast, and easy for all suppliers.
  • Suppliers choose the connectivity option that works best for them; no manual keying of invoice data into portals required.
  • Suppliers are connected to the network in less than a day.

Once connected to their suppliers, advanced Transcepta network solutions uniquely empower customers to efficiently automate AP and procurement processes.

About Transcepta
Transcepta is the leading global business network. With cutting edge supplier on-boarding programs, revolutionary technology, and free membership for all suppliers, Transcepta connects customers with more of their suppliers, faster than any other network. Transcepta provides accounts payable and procurement professionals with industry leading procure-to-pay (P2P) solutions in the Cloud, including E-Invoicing, Spend Management, VAT Compliance, Supplier Information Management, and Supplier Enablement. Businesses collaborate and transact electronically over the Transcepta Network to reduce costs, communicate more efficiently, and make their relationships more productive. Since 2005, Transcepta has connected over 100,000 businesses and processed millions of transactions to become the fastest growing business network. For more information about Transcepta, visit www.transcepta.com.

Trademarks
Transcepta is a registered trademark of Transcepta LLC.

Contact Information

  • Media Contact
    Jill Hennigan
    Transcepta LLC
    949-382-2859
    Email Contact