New PO CloudMatch™ Technology is Making Waves
ALISO VIEJO, CA, September 15, 2015 – Transcepta, a leading innovator of cloud-based e-invoicing, accounts payable (AP) automation and procure-to-pay solutions, announced that FleetPride selected Transcepta to eliminate paper invoices and achieve touchless, straight-through invoice processing.
Fleetpride is the largest independent distributor of heavy-duty, aftermarket truck and trailer parts. The company does business with a large number of suppliers in order to keep over 250 locations, across 45 states, stocked with thousands of SKUs. Additionally, FleetPride also offers truck and trailer repair services at a number of locations.
Since supplier adoption is a critical component of successful electronic invoicing projects, Transcepta has developed the industry-leading approach to supplier onboarding. To maximize adoption, Transcepta manages the entire onboarding process for its customers. Transcepta notifies each supplier of the e-invoicing initiative and works with them to determine the submission method and format that would best serve their business requirements. Also, the service is completely free to suppliers, encouraging rapid and complete adoption. Setup is completed quickly enabling suppliers to send e-invoices directly from their existing billing system for guaranteed, secure delivery.
In addition to supplier adoption, Transcepta leads the industry in helping customers achieve straight-through invoice processing. “A key part in our decision to choose Transcepta was their PO CloudMatch feature. We needed to eliminate paper but we also we’re very excited to move to a touchless process,” said Angela Boyd, FleetPride VP and Chief Accounting Officer.
To help streamline the payables process for the large amount of goods flowing through FleetPride’s distribution centers, Transcepta has implemented PO CloudMatch. PO CloudMatch uses intelligent algorithms to compare a purchase order to the invoice and calculate PO line numbers where they would otherwise be absent. This is particularly useful when a three-way match is required because it ensures there is enough data, including goods-receipt data, for the match to take place.
“We are very excited to be working with FleetPride to eliminate the costs and inefficiencies that are associated with processing invoices manually,” said Mitch Baxter, Transcepta Vice President. “Working with a supplier community as large and diverse as FleetPride’s will be a terrific opportunity to showcase the recent innovations made in e-invoicing and AP automation, such as PO-CloudMatch.”
Transcepta was founded in 2005 with the goal of making electronic invoicing (e-invoicing) for true accounts payable automation a reality, eliminating all paper invoices. Our belief is that the critical success factor for e-invoicing is supplier participation.
Transcepta is differentiated from other offerings by providing an attractive solution to suppliers and a managed service to recruit and implement the supplier network. Transcepta is the only e-invoicing solution that removes the long standing barriers, cost, time, and complexity, to supplier enablement. Transcepta also offers solutions that enhance supplier relationships and benefit procurement and finance departments through supply chain finance and dynamic discounting.
While offering robust functionality and flexible integration to your Accounts Payable department, Transcepta enables suppliers to submit invoices with their existing accounting or ERP system and process. Suppliers do not pay setup or any other upfront fees and implementation takes only minutes of a supplier’s time. IT support is not required for supplier onboarding or implementation and invoice submission is automated (i.e. not manually typing invoices into a web portal).
Transcepta is located in Aliso Viejo, California. For more information, visit www.transcepta.com/e-invoicing.
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