We deliver a 3-way match at shipment, a core capability that allows suppliers to gain approval of invoices at shipment and which supports straight-through processing and AP Automation for buyers. This is achieved with minimum effort for buyers as the process is operated by suppliers as part of their shipment activity on our platform - reducing workloads and reconciliation for buyer back office staff, increasing the velocity of data through their business and streamlining their activities, end-to-end.
Integrated supply chains are typically out of reach for all but the richest companies in the world - as the cost of systems, processes and coordination can be very high. But this is no longer the case. PrimaMatch delivers exceptional functionality with minimum cost and effort - bringing the efficiencies that the largest players enjoy via their multi-million USD IT environments through to the mass market of SMEs and mid-cap companies.
PrimaMatch delivers the functionality of a self-billing platform to SMEs and mid-caps without the significant expense of a major ERP upgrade:
We pull data on open purchase orders from the buyer systems. This is generally a simple process enabling purchase orders to be mapped to suppliers.
Suppliers ship (FOB) or deliver (landed) their products and then use our PrimaShip product to upload their commercial and shipping documents - invoices, packing lists, bills of lading, airway bills, delivery notes etc.
Each supplier is then presented with its list of open purchase orders and it is a simple task then to indicate which purchase orders are in the shipment against which invoices (ie: quantity and price for each product).
With the POs matched against the shipment, we can then execute a 3-way match:
shipping and other documents
This 3-way match happens much earlier on our platform than in a conventional buyer accounting system or ERP. We achieve the match at shipment or despatch of goods rather than later when goods are receipted into a warehouse.
In turn, this capability enables invoices approvals to be much quicker, and then payments to be made much earlier to suppliers - all of which can result in significant savings for buyers on the cost of goods - up to 1% or more in savings can be achieved on the cost of all goods purchased.
Our platform has six components
Different parts of our platform cover different elements of the documents and cash process flowing through supply chains.
PrimaMatch links through to other components that can be used to achieve an automated, straight-through process on paperwork, approvals and payments.
Most clients realise savings of up to 1% or more on the costs of goods that they purchase - simply by making documents and cash flow more efficiently through their supply chains.