E-Invoicing for JD Edwards In Australia and New Zealand

E-Invoicing helps combat invoice scams, reduces your transaction risk, improves cash flow, while also reducing your AP costs!

With the rise in email invoice scams targeting businesses of all sizes, companies have been resorting to manually ringing suppliers to verify invoices are real before making payments. In an age where everyone is trying to increase the level of automation across organisations, particularly in the accounts payable department, the cost to businesses of email invoice scams goes much further than just the potential loss from paying fake invoices.

Why E-Invoicing is More Secure

By design the E-Invoicing system is more secure because E-Invoices are sent:

• Securely between two parties, using encrypted channels
• Automatically authenticated using authentication mechanisms that verify the identity of both the sender and receiver of invoices, minimizing the risk of spoofing or impersonation.
• With digital signatures: Some e-invoicing solutions support digital signatures, which provide a cryptographic assurance of the authenticity and integrity of the invoice, making it difficult for fraudsters to tamper with or create fake invoices.
• Automated Validation: E-invoicing platforms may include validation checks to ensure that invoices comply with predefined formats and business rules, flagging any anomalies or discrepancies that could indicate fraudulent activity.
• Audit Trails: E-invoicing systems maintain a digital audit trail of invoice transactions, including timestamps and user actions, which can help trace the origins of any suspicious invoices and identify potential security breaches.

How E-Invoicing Further Reduces Your AP Costs

Ndevr’s JD Edwards customers are also able to take advantage of the AP Automation module for JD Edwards, Scanman, which has proven to reduce AP processing times by up to 75%.

Now you can reduce your AP costs even further!

Where e-invoicing differs is; a supplier will send their invoice across the secure Peppol network in a structured, predetermined pre legislated format.

The arrival of the invoice in your environment triggers your AP Automation process, which triggers the invoice matching process and touchless processing of your invoice through to payment.

You only deal with exceptions, which are greatly reduced.

Getting Started With E-Invoicing For JD Edwards & NetSuite

Ndevr has partnered with Storecove, a globally recognised E-Invoicing Access Point solution for, not just JD Edwards users, but also other Oracle ERPs including NetSuite, Microsoft, SAP and just about any other ERP platform.

We selected the Storecove API service because;

• Storecove lets you send and receive compliant e-invoices on a global scale, so you don’t have to worry about whether there are different formats, networks and tax authorities in other countries.
• Storecove is tailored to meet the specific needs of industries such as engineering and construction. By facilitating milestone payments and progress claims through e-invoicing, Storecove enables businesses to streamline the invoicing processes and maintain transparency in project billing.
• Storecove also enables you to connect to the US Digital Business Network Alliance (DBNAlliance), which is the US equivalent of the EU/AU/NZ PEPPOL Network. This facilitates secure and efficient exchange of B2B documents in the US.

Its worth pointing out that Storecove is also the PEPPOL Access Point solution that was selected by the (Australian) Department of the Prime Minister and Cabinet, and is also certified for use in New Zealand.