Payment and Discount Management
Meet payment and discount terms by automatically scheduling payments as invoices are approved with OpenInvoice’s trusted and secure payment automation service.
Realize more early pay discounts
Capitalize on your automation investment by negotiating and realizing more early pay discounts. Ensure you get all of your discounts by flagging suppliers with a contractual obligation to provide discounts and identify invoices missing the reductions. Don’t leave money on the table by quickly identifying and prioritizing invoices with an offered discount throughout the invoice approval lifecycle.
improve payment compliance and reduce fraud
Reduce the risk of fraud by leveraging Oildex’s third-party sources to verify supplier information before the payment is made. Manage your payments in OpenInvoice and our third-party payment processing partner will handle all of the details allowing you to eliminate the manual, labor-intensive, processing of paper checks in-house. The OpenInvoice payment dashboard gives you improved visibility into the payment lifecycle, and you can automate your payment reconciliation process by integrating your accounting or ERP system.
Improve supplier collaboration
Suppliers can choose to be paid faster by configuring their bank information and having funds automatically deposited into their account. OpenInvoice automatically notifies suppliers of upcoming payments reducing the number of calls you receive from suppliers looking for status updates.