The bottom line
Bottomline Technologies has announced a new version of its NetTransact B2B electronic invoice presentment and payment (EIPP) system.
The new version of the company's end-to-end system for B2B e-billing now lets users resolve invoice disputes online, handles billing in multiple languages and currencies, and streamlines payments via automated buyer-controlled rules.
NetTransact 4.0 is also claimed to be the first EIPP system to deliver interim messaging, which automatically ensures that a supplier's enterprise resource planning (ERP) or customer relationship management (CRM) system acknowledges the results of an online payment dispute.
To streamline settlement, NetTransact also adds a template-driven format that buyers can use to streamline how they process purchases. For example, a buyer receiving the same amount of product at the same price every month must usually manually track each invoice to make sure the vendor has shipped the right volume at the right price.
NetTransact's rules-based logic lets the buyer create a set of guidelines for each vendor. If an order arrives and the volume, price or some other element is off, the system will automatically notify the buyer of the discrepancy. If not, the system automatically routes the bill to payment, so the buyer's accountants don't have to pore over every bill.
Buyers can automatically schedule payments based on previously defined criteria and, through the system's Web interface, can view the status of invoices paid through another source, such as an ERP system. Providing payment status via the browser eliminates vendor inquiry phone calls and associated accounts payable resource demands.
Added payment flexibility, including the option of credit card payments and the ability to originate online requests for credit, reduces payment and credit issuance costs.