CALGARY, AB – ProcureDox Business Solutions Inc. is pleased to announce Field to Payment – our complete “order to cash” solution.
In addition to our industry-leading 100% invoicing and integration solutions, we’ve unveiled our new Field to Payment (F2P) offering with numerous operational and financial benefits. Field to Payment dramatically reduces the cost to invoice, Days Sales Outstanding (DSO) and improves cash flow for organizations that sell goods and services.
New software partner, FIRE (Field Invoicing and Reporting Engine) by Claero Solutions, brings more than 15 years of industry experience in Canada, the US and internationally. FIRE focuses on improving profitability by getting paid more quickly while processing documents more efficiently. FIRE includes functionality to manage Dispatches, Bids, Tickets, Invoices, Incident and HSE reports, Asset Tracking, Compensation, Reports and more. Tied to ProcureDox, FIRE allows for the electronic creation invoices in e-invoicing systems such as Oildex and Cortex with no manual entry, and in tandem with exports to internal ERP/Accounting systems.
ProcureDox manages accounts receivable automation, invoice post and print, Business to Business (B2B) data and document exchange, system integration and collaboration, electronic payments, cash allocation and reconciliations, along with Business Intelligence (BI) and analytics.
Existing partner, capitalNOW, provides customer credit checks, receivables financing, and Cash-as-a-Service (CaaS). Increased visibility into receivables, capital management and revenue reporting has never been easier.
Key benefits of our F2P solution, contributing up to a 60-day reduction of DSO and significant savings, include:
- Reduction of the cost to invoice end customers by as much as 50%
- Increase the retention of customers by 48%
- Same day cash deposits into your bank account on approved invoices
- Work on or off-line in the field and upload information automatically when connected
- Edit and approve field tickets as soon as they are uploaded, streamlining the approvals process
- Reduce costly calculation errors and mistakes due to multiple data entry
- Export to accounting and invoice clients in record time
- Simplified system integration, data exchange and collaboration with your end customers
ProcureDox plans to continue to roll-out several new initiatives as part of our strategic vision and high-growth business plan. For information about ProcureDox F2P, contact Joseph Loria, VP, Sales and Business Development, at ProcureDox Business Solutions Inc.