Order to SettlementThe Order to Settlement tool is a GE Energy extranet-based application that digitizes the Purchase Order Buy-to-Pay cycle for suppliers and buyers in a secure environment, and requires just an internet browser to access. It consists of an ePurchase Order (ePO) module for PO collaboration, eShipment module for Advanced Shipment Notices, and eSettlement module for electronic invoicing. The e-PO module allows suppliers to receive and manage their purchase orders in a real-time environment. It gives suppliers direct real-time notifications and access to new and amended POs, a record of amendments and line item receipts and an easy way to update the promise dates on all open PO line items regularly. The e-Shipment module allows for creation of Advanced Shipment Notices by suppliers, leading to greater receiving efficiencies and fewer errors for suppliers to have to research. ASNs also give GE better notification of when shipments will arrive and reduce errors in the receiving process because they utilize bar-coded packing lists and leverage hand-held receiving technology. The e-Settlement module utilizes a simple electronic invoice creation process, requiring the supplier to enter only their AR#. O2S e-invoices lead to greater settlement efficiency because suppliers will no longer need to create and submit paper invoices. By electronically enforcing a one PO per invoice rule, and requiring receipt to be present in most cases, O2S invoices reduce payment cycle time by eliminating common matching errors that can occur with other invoice sources.
|
For More Information |
|
|
