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Home » Linking the Physical and Financial Supply Chains

Linking the Physical and Financial Supply Chains

February 22, 2013
Supply Chain Europe

Spurred by globalization, the physical supply chain benefits from multiple efficiency gains such as ERP, EDI, or vendor managed inventory, all impacting the bottom line. The financial supply chain, the processing of invoices leading to payment, has been left behind and in the main, has remained a paper-based, manual process.

While e-invoicing technology has been available for many years this lack of focus on the financial supply chain has hindered widespread adoption. Now things are changing - B2B is on the wider business agenda, more strategically, as CEOs, CFOs, CPOs and treasurers alike are scrutinizing their supply chains to reduce risk, increase stability, make cost savings, optimize working capital and gain competitive advantage. Today, e-invoicing is a frequently discussed topic in the media and in many boardrooms.

The e-invoicing process requires a little more than B2B integration. Electronic invoices must be processed and stored in a way that is recognized on an equivalent audit basis as paper invoices, for VAT purposes. With VAT being the predominant indirect taxation method globally there are a multitude of rules and regulations that vary across countries and this complexity, combined with the dotcom bubble and the credit crunch, resulting in slow e-invoicing adoption.

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Keywords: Cloud Computing, Cloud Logistics, Cloud Logistics Management, Supply Chain Information Systems, B2B, Finance Supply Chain, Finance Management, Finance Technology, Retail Finance Solutions, Supply Chain Management, ERP Solutions

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Logistics Technology Cloud & On-Demand Systems ERP & Enterprise Systems Global Trade Management Inventory Planning/ Optimization SC Finance & Revenue Management SC Planning & Optimization Order Fulfillment High-Tech/Electronics Retail
KEYWORDS B2B Cloud Computing Cloud Logistics Cloud Logistics Management Cloud, SaaS & On-Demand Systems ERP & Enterprise Systems ERP Solutions Finance Management Finance Supply Chain Finance Technology Global Trade Management High-Tech/Electronics Inventory Planning/ Optimization Logistics order fulfillment Retail Retail Finance Solutions SC Finance & Revenue Management SC Planning & Optimization Supply Chain Information Systems Supply Chain Management Technology
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