Leading rental and asset management software supplier inspHire has teamed up with Causeway
’s electronic trading division Tradex to enable its customers to comply with the growing number of requests for electronic invoicing.
Most large organisations in the construction sector are requesting their suppliers to invoice them electronically, to reduce the cost of their procurement and buying processes. Consequently, many inspHire customers were looking for cost-effective electronic invoicing solutions.
“The world is moving towards more cost-effective and efficient methods of doing business, and Tradex provides just that,” noted inspHire Managing Director Graham Dobbs. “Having your sales invoices generated from your system and with your clients on the same day, on their ledgers with some simple matching such as PO validation, can only be good for business. Electronic Document Interchange is certainly becoming more important today than ever before,” he added.
The system is made very easy for customers, with Causeway
setting up the Tradex account and inspHire seamlessly creating the correct file format ready to load into it. Causeway
validates the connection with the client before the system goes live, and will provide training where required.
Tradex Divisional Director Tim Cole explained: “Tradex combines electronic data exchange with process controls that allow companies to exchange trading documents, such as invoices and orders, without the need for paper. By integrating directly with the different back office systems used by buyers and suppliers, transactions can flow directly from the supplier’s application to that used by the buyer.
“Tradex also provides a shared information platform that can be used to further reduce dependence on manual processes. Working with inspHire has helped extend the benefits of eTrading and provides inspHire customers with a fully supported connection.”
An early adopter of the system was inspHire customer Hall Plant Hire. “Once we had decided to go ahead with Tradex, they set everything up,” recalled Hall Plant Hirer’s Kevin Greenhalgh. “There is a ‘Log In’ to a staging area where you first confirm all of the company details and test a few invoices.
“Once this is completed you transfer to the ‘Live’ environment. It was an easy transition – very straightforward. inspHire posts all the invoices that are required to the Tradex hub. This saves us printing out the invoices, folding them and putting them into envelopes and adding postage etc. Electronic invoicing is not free of charge but the convenience is a big factor.
“In addition it means that there are no ‘lost’ invoices for customers to hide behind or invoices that are late because they are still to be inputted on to the system. The customer receives the invoice on the day that it is generated and as long as the information on the invoice is correct, like the Purchase Order Number, then payment should go through without a delay.
“At the end of each day we get a report that shows us which files have been forwarded and confirms they have been received and accepted. Being able to offer electronic invoicing means that we can supply the bigger players in the industry. Our philosophy is that we will do whatever we can to improve our levels of customer service – we have a very strong ‘customer is king’ mentality,” Kevin Greenhalgh concluded.