4EXCHANGE
Standardization and validation
4Exchange standardizes the jumble of invoices that suppliers send and customers want to receive for their own organization. Many-to-one and one-to-many, in other words.
This not only makes invoice flows transparent, traceable and processable, but makes it easy to validate invoice data with master data. This identifies fraud and prevents late dropouts in processing.
INVOICE DATA QUALITY
Automatically validate invoices with master data
Before data is entered or extracted into or from ERP, purchase to pay, or order to cash systems, 4Exchange compares, corrects, and enriches supplier data based on your own master data sources and external data sources, such as the Chamber of Commerce or the European Commission's VAT database.
For example, supplier recognition can be set up by a combination of IBAN, Chamber of Commerce or VAT number.
EXCEPTION MANAGEMENT
Automatic tracking of exceptions
Invoices that are found to be invalid are removed from the regular flow. In accordance with self-set rules, these exceptions can be followed up automatically.
Depending on the error an invoice can be submitted to an own employee or, for example, to a contact person at the supplier. The contact person, for example, automatically receives an e-mail with the sent invoice plus explanation.
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Does 4Exchange offer e-billing?
Yes. E-billing or electronic invoicing, involves sending and receiving invoices in a particular data format. E-billing is the core of 4Exchange. 4Exchange converts various invoice formats, including PDF, to a data format (many-to-one), and vice versa, that is, from a data format to one or more invoice formats (one-to-many).
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Can 4Exchange handle PDF invoices?
Yes. We convert machine-readable and non-machine-readable PDF invoices to a data format. And we convert a data format to any PDF form, should a debtor require it.
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Can we say goodbye to OCR?
Yes. The 4Exchange platform itself uses OCR technology, among other things, to extract information in PDF invoices. outsourcing by 4Exchange implies that you no longer have to do this yourself.
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Is 4Exchange also a Peppol Access Point?
Yes, we are a Peppol Access Point. If you are looking for only a Peppol solution, however, we are a less suitable party. Our platform is a much better fit for more complex administrations. For example, if you send invoices to many different companies, not all of which have to work in accordance with Peppol, for example, then we would be happy to get in touch with you.
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Should we adjust our financial administration ?
No. The 4Exchange platform works between your systems and various billing channels, including e-m,ail programs, e-invoicing networks and SFTP environments. Conversions and validations take place in the platform. So you can just keep using your invoice processing systems and billing .
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Is cooperation from suppliers or customers required?
A little bit. Suppliers and customers can continue to work with their systems and practices. Suppliers will only have to send their invoices to a new address and indicate whether they can also send invoices directly as e-invoices. And customers will need to specify how they wish to send invoices receiving. We are taking the lead in onboarding suppliers and customers.
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Does 4Exchange offer more than invoice receiving and invoice delivery?
Yes. Our sister companies within the 4CEE group specialize in both processing (coding, matching) received invoices and invoicing (preparing, following up) to customers. So we are very familiar with the playing field of accounts payable and accounts receivable.
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Is 4Exchange limited to invoices?
No. In addition to invoices, we also process related documents in purchase to pay and order to cash processes, such as credit notes, purchase orders and order confirmations. So you can bring the entire flow of "commercial documents" to us.