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How Electronic Invoicing Solution Providers Perform When Suppliers Pay For Invoices

As part of our deep dive into electronic invoicing solution providers’ performance, we recently looked at how each provider performed concerning the free invoicing they offered supplier customers. We’ll now look at how well e-Invoicing solution providers performed in relation to paid submissions.

It’s worth noting that not every supplier pays for invoice submissions through the solution providers they use. In other words, some suppliers submit invoices for free when using these platforms, but those invoices tend to be in the lower volume range and top out anywhere between 50 and 200 invoices annually. There is a fee associated with the service for the vast majority of invoices submitted through these third-party e-Invoicing networks.

One provider performed best of all

In our Perceptions Analytics study, we were able to gauge how well each solution provider performed when suppliers pay to have invoices submitted through their networks. The average in terms of an excellent rating among all providers is 59%. While most suppliers found value when paying for invoice submission, some providers performed significantly better than others.

The clear winner when rating the excellence of submitting invoices for a fee is Transcepta. Suppliers using the Transcepta platform graded their paid invoicing service as excellent at a rate of 88%. This score surpassed all other solution providers by far, with Taulia being the next closest provider with an excellent rating of 71%. Those providers performing better than the average were Esker (66%) and Basware (65%). Tungsten Network was rated right at the average, scoring a 59% among those suppliers using their service. Electronic invoicing solution providers performing below the average were Tradeshift (56%), iPayables (53%), and SAP Ariba (47%).

Wide variance between free and paid

When comparing the value suppliers received when submitting invoices for free vs. paying for them, some solution providers saw quite a difference in how they performed in our study. While SAP Ariba achieved the lowest score in rating value for paid invoices (47%), they performed best when rating free invoices (59%). Similarly, Taulia performed better than most when it came to paid invoices (71%) but achieved the lowest score for free invoices (36%).

When looking at other solution providers’ scores, those who scored somewhere in the middle of one focus area tended to score somewhere in the middle in the other focus area.

To see more detail in how each e-Invoicing solution provider performed in these and other areas segmented by invoice volume, industry, and company size, access the Perceptions Analytics interactive dashboard and begin your free trial.

Ernie Martin is Founder and Managing Director of Receivable Savvy. He brings over 25 years of experience in financial supply chain management, marketing and communications and draws upon his extensive experience to share knowledge and best practices with AR professionals. He currently chairs the Vendor Forum of the Federal Reserve Bank of Minneapolis and his resume includes time at several well-known brands and companies such as Tungsten Network, Delta Airlines, CIGNA Healthcare and Georgia Pacific as well as a number of years as an independent consultant.

 

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